Retail Industry is looking at Artificial intelligence (AI) and machine learning (ML) as a solution to take their organization to the next level of productivity and customer experience. To explain this better, let us look at it this way – Retail companies have access to a massive amount of data about their customers and their shopping preferences. It is difficult for the companies to drill down into these huge mines of useful data and analyze it properly and derive actionable insights in real time. Therefore, massive amounts of this useful information could go waste which would otherwise have helped in increasing sales conversion rates or enhancing the customer satisfaction. With the help of AI and ML, the huge amount of big data could be used in creating web shops that take customer information and turn it into targeted shopping experiences or online chatbots that can easily answer questions and assist customers, or in-store intelligence to make the customer experience even more interactive.
Sep-16-2019, 04:57:47 GMT