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Boosting Retailer Revenue by Generated Optimized Combined Multiple Digital Marketing Campaigns

arXiv.org Artificial Intelligence

Campaign is a frequently employed instrument in lifting up the GMV (Gross Merchandise Volume) of retailer in traditional marketing. As its counterpart in online context, digital-marketing-campaign (DMC) has being trending in recent years with the rapid development of the e-commerce. However, how to empower massive sellers on the online retailing platform the capacity of applying combined multiple digital marketing campaigns to boost their shops' revenue, is still a novel topic. In this work, a comprehensive solution of generating optimized combined multiple DMCs is presented. Firstly, a potential personalized DMC pool is generated for every retailer by a newly proposed neural network model, i.e. the DMCNet (Digital-Marketing-Campaign Net). Secondly, based on the sub-modular optimization theory and the DMC pool by DMCNet, the generated combined multiple DMCs are ranked with respect to their revenue generation strength then the top three ranked campaigns are returned to the sellers' back-end management system, so that retailers can set combined multiple DMCs for their online shops just in one-shot. Real online A/B-test shows that with the integrated solution, sellers of the online retailing platform increase their shops' GMVs with approximately 6$\%$.


Translating PDF documents using Amazon Translate and Amazon Textract

#artificialintelligence

In 1993, the Portable Document Format or the PDF was born and released to the world. Since then, companies across various industries have been creating, scanning, and storing large volumes of documents in this digital format. These documents and the content within them are vital to supporting your business. Yet in many cases, the content is text-heavy and often written in a different language. This limits the flow of information and can directly influence your organization's business productivity and global expansion strategy.



Towards an Interoperable Data Protocol Aimed at Linking the Fashion Industry with AI Companies

arXiv.org Artificial Intelligence

The fashion industry is looking forward to use artificial intelligence technologies to enhance their processes, services, and applications. Although the amount of fashion data currently in use is increasing, there is a large gap in data exchange between the fashion industry and the related AI companies, not to mention the different structure used for each fashion dataset. As a result, AI companies are relying on manually annotated fashion data to build different applications. Furthermore, as of this writing, the terminology, vocabulary and methods of data representation used to denote fashion items are still ambiguous and confusing. Hence, it is clear that the fashion industry and AI companies will benefit from a protocol that allows them to exchange and organise fashion information in a unified way. To achieve this goal we aim (1) to define a protocol called DDOIF that will allow interoperability of fashion data; (2) for DDOIF to contain diverse entities including extensive information on clothing and accessories attributes in the form of text and various media formats; and (3)To design and implement an API that includes, among other things, functions for importing and exporting a file built according to the DDOIF protocol that stores all information about a single item of clothing. To this end, we identified over 1000 class and subclass names used to name fashion items and use them to build the DDOIF dictionary. We make DDOIF publicly available to all interested users and developers and look forward to engaging more collaborators to improve and enrich it.



Nearly Bounded Regret of Re-solving Heuristics in Price-based Revenue Management

arXiv.org Machine Learning

Price-based revenue management is a class of important questions in operations management. In its simplest form, a retailer sells a single product over $T$ consecutive time periods and is subject to constraints on the initial inventory levels. While the optimal pricing policy over $T$ periods could be obtained via dynamic programming, such an approach is sometimes undesirable because of its enormous computational costs. Approximately optimal policies, such as the re-solving heuristic, is often applied as a computationally tractable alternative. In this paper, we prove the following results: 1. We prove that a popular and commonly used re-solving heuristic attains an $O(\ln\ln T)$ regret compared to the value of the optimal DP pricing policy. This improves the $O(\ln T)$ regret upper bound established in the prior work of (Jasin 2014). 2. We prove that there is an $\Omega(\ln T)$ gap between the value of the optimal DP pricing policy and that of a static LP relaxation. This complements our upper bound results in showing that the static LP relaxation is not an adequate information-relaxed benchmark when analyzing price-based revenue management algorithms.


Big Data and the Future of Retail

#artificialintelligence

The retail experience was undergoing a transformation even before the current pandemic forced massive changes in shopping behavior. A 2019 survey revealed that 92 percent of 1,400 retail leaders identified "reinventing the customer experience" as their top business priority. However, with the new reality we've all been forced into, the stakes for retailers are higher now than ever. To understand the changing needs of consumers and respond to those needs, retailers must leverage big data strategies based on artificial intelligence (AI) and machine learning (ML) technologies. In a crowded marketplace, retailers must find ways to differentiate their brands through increased personalization, better customer service, and improved demand forecasting.


Amazon.com: Introduction to Algorithms, third edition eBook: Cormen, Thomas H., Leiserson, Charles E., Rivest, Ronald L., Stein, Clifford: Kindle Store

#artificialintelligence

Introduction to Algorithms, the'bible' of the field, is a comprehensive textbook covering the full spectrum of modern algorithms: from the fastest algorithms and data structures to polynomial-time algorithms for seemingly intractable problems, from classical algorithms in graph theory to special algorithms for string matching, computational geometry, and number theory. The revised third edition notably adds a chapter on van Emde Boas trees, one of the most useful data structures, and on multithreaded algorithms, a topic of increasing importance.


Walmart's Labor Day deals are here and just as great as you'd expect--shop our top picks

USATODAY - Tech Top Stories

This Labor Day, you can save on all kinds of gadgets for around the house at Walmart. Purchases you make through our links may earn us a commission. Walmart consistently has some of the most impressive deals around, and Labor Day is certainly no exception. This major retailer, which is known for offering competitive pricing on everything from top air fryers to great patio furniture, has a slew of special deals up for grabs for the holiday that warrant some special attention. We've put together a list of the most awe-inspiring bargains you can find from the sale, with highlights to five you'll definitely want to check out ASAP.