The global retail industry, which has grappled with waves of change over the past decade, is facing one of its most dynamic and unpredictable periods to date. Due to the naturally reduced consumer spending during the global pandemic, retailers are required to embrace AI and enjoy its benefits.
monitor and detect anomalies on price of products as listed on the website enables the business teams to proactively identify and prevent revenue leakages.
Proactively monitoring and detecting anomalies on shopping cart abandonment will help in better understanding the cause and prevent revenue loss.
By dividing a customer base into specific groups, marketers can use predictive analytics to make forward-looking decisions to tailor content to unique audiences.
Companies can take actions, like retargeting online ads to visitors, with data that predicts a greater likelihood of conversion and purchase intent.
Optimize different prices for its products and services through different channels to increase revenue and better customer royalty.
Drive optimal strategies in planning, increase inventory productivity in supply chains, decrease operational costs.