Capitalizing on the convergence of physical and digital channels with AI enables the retailers and consumer product manufacturers stay ahead of the pack
We are in an era of omnichannel commerce, where consumer behavior is changing rapidly in unexpected ways and ever-evolving. Retail and consumer product companies must get better at anticipating and responding to new consumer needs and preferences. The companies need to reimagine how to engage with consumers in very different, more targeted, and niche oriented ways.[…]
AI systems enable retailers and consumer goods companies to move beyond existing strategies of challenging competitor prices or following social media trends. It transforms the entire value chain to a predictive consumer services ecosystem. With AI systems in its core, the companies can address various aspects of customer willingness to buy versus ability to buy and dynamic pricing intelligence[…]
Applying artificial intelligence (AI) to segment your customers for accelerating sales growth offers numerous advantages over traditional segmentation models. Auto-segmentation is the process of segmenting customers into cohorts using machine learning that can provide intelligent product recommendations, beyond historical transactions and demographic attributes.[…]
Delivering goods, when, where and how customers demand has never been more important or complex. The ongoing coronavirus pandemic has forced a shift in the retail and consumer product goods industry. With a high-volume of ecommerce online orders over a short period of time, product replenishment has been challenged. To proactively pursue a competitive advantage,[…]
Building and delivering an enterprise AI roadmap can divided into a three-step process. Step one begins with strategic goals and opportunity discovery process where AI can enhance, automate, and accelerate. Step two lays out the foundation to define intelligent workflows for key business actions and realization of benefits. Step three brings you closer to a constantly learning enterprise that adapts to business changes and delivers strategic growth outcomes.