Retail & Commerce Data

At heart, a virtual classroom is simply a class that meets virtually. In comparison, distance learning and e-learning classrooms are self-paced, requiring no set meeting times.

While virtual learning sounds simple, it does come with a number of unique challenges, especially for children.

Artificial intelligence has opened new language acquisition pathways for learners and teachers. These programs allow any learner, anywhere, to receive personalized lesson plans and feedback. When part of a classroom (virtual, physical, or mixed), AI language learning programs help teachers assess student progress.

Brand repositioning refers to the process of changing the associations that people have with a brand.

More than a superficial change like a logo redesign, a repositioning strategy represents a radical change in a company’s marketing and identity. Rarely do companies reposition themselves without great need.

Chatbots answer customer visitor questions or requests. While many rely on command-based functions, the better AI chatbots use artificial intelligence, especially NLP (natural language processing), and sentiment analysis.

Occasionally people refer to these bots as AI assistants, conversational interfaces, conversational agents, or even chatterbots.

Warehouse management systems run machine learning software to maintain a warehouse or distribution center (or a fleet of them).

Trend forecasting is the act of identifying market trends before they come into existence so you can you monitor your market and take advantage of opportunities to meet business goals.

In-store performance prediction is sales forecasting for products in brick-and-mortar stores.

Everyone wants more leads, but the more we are able to generate, the harder it becomes to identify which of them are actually worth the time and effort spent in order to try to convert them. Lead scoring models let you automatically rank your leads in order of the perceived value each lead represents to your company. Resources for marketing and sales can then be distributed by the priority determined by lead scoring.

An online recommendation engine is software that analyzes available user data to generate suggestions for something the user may also be interested in. Such engines are used in an advertising capacity to promote products or services or for the purpose of recommending similar content to the content the user has consumed in the past, such as in streaming services and online shopping services.

As opposed to customer segmentation which divides the market into groups based on demographics and purchase history, persona detection and segmentation creates more personal profiles in order to better understand potential customers using information about behavior, attitude and personal journeys.

Price optimization is the mathematical analysis by a company determines the response of potential buyers to different prices for its products and services. The aim is to meet a company’s objectives of maximizing profits and growing and retaining a customer base.

Sales forecasting is the system by which future sales volumes are estimated—at what price, during which time, and in which market. Product performance forecasting enables businesses to make informed decisions in both the short term and the long term. Machine learning software is continually improved, providing businesses with better analysis all the time—faster and more reliably than manual methods.

Promotional planning is the process of optimizing marketing tools, strategies, and resources to promote a product or service to generate demand and meet set objectives. Artificial intelligence (AI) can be used to effectively plan promotional events, measuring their outcomes, and adjusting as necessary to achieve growth.

Remarketing campaigns show ads to people who have visited a business’s website or downloaded one of its apps. Remarketing is designed to get potential customers who have shown interest in your product or service to recall your business and their intent to buy, therefore enlarging the odds of them converting.

The shelf is a dynamic environment, where shoppers select items purposefully and on impulse, where store owners showcase products to entice customers in the store and online.

Inventory management does not just entail having the right stock but also ensuring said stock was effectively sourced, stored, and sold at the right price, at the right time. 

Organizations must satisfy the unique demands of their customers. The good old days of mass marketing and predictions on limited mixture of products in one location are gone. Conversely, the use of artificial intelligence in inventory generates huge dividends to companies willing to reshape their supply chain orders.

This technological development results from the availability of massive amounts of real-time data now routinely generated by enterprise software systems and smart products. By collecting this data, organizing it, and interpreting it, artificial intelligence and machine learning have introduced an entirely new level of data processing leading to deeper business insights.

AI has been used to improve supply chain and demand forecasting for a couple of decades. Demand planning applications use data driven algorithms to take historical data and use it to forecast. Demand forecasting can include promotion planning or stock and sales forecasting. The machine looks at the forecast, compares it to actual shipments, and suggests alternatives and optimization options. Over time, many companies started doing more specific forecasting for specific regions, products or stores or for more granular points in time. Both retailers and their suppliers (CPG companies or 3rd party shipping and supply chain companies) use their data to help conduct automated decision making within the supply chain.

Nowadays, the abundance of data and the advances in Machine Learning and big data applications reduce the need for top-down segmentation of customers. Smart customer clustering based on many commonalities help companies better address customer needs to provide the right experience and divide resources efficiently.

Algorithmic stock trading—aka “algo-trading”—uses machine learning algorithms to make stock market trades faster than a human could, calculating the best time, price, and amount to trade in an instant.

Brand awareness is the degree to which a customer is able to recall and recognize your brand. Brand awareness is critical for promotion and marketing, especially for a young company. High brand awareness can result in a company becoming very popular or “trending.”

Behavioral targeting is the process of marketing to people who are most likely to use your products or services based on their demonstrated behavior. This behavior may be online (for example, keywords searched, websites visited) or offline (location tracking data, for example).