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How AI-Enabled Demand Forecasting Boosts Logistics?

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Demand forecasting is one of the most important aspects of logistics. While some businesses are able to make educated guesses based on previous years' sales, demand forecasting using artificial intelligence (AI) technology can help companies achieve higher degrees of precision when predicting future demand for their products. But how AI-Enabled demand forecasting boosts logistics? Forecasting is a complex task that can be made simpler by using Artificial Intelligence (AI) to analyze historical data about orders placed, the market, shipping routes, and weather. Today, demand forecasting has evolved into what is known as predictive demand planning or forecasting.


Top 8 Use Cases of Data Science in Retail

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Data Science has become one of the most powerful technologies in the retail sector by providing fact-based and data-driven insights. Data Science technologies help retailers in enhancing their marketing strategies, operations, and financial performance. Retailers today are searching for ways to derive more customer intelligence and operational insights from their overflowing databases which are currently fulfilled by Data Science technologies. Data science plays a vital role in almost all sectors of retail such as assortment, recommendation, Logistics and Supply Chain Management, Demand Forecasting, Price Optimization for products, Predictive Maintenance, Churn prediction, and Data-Driven Product Management. Other products that are bought together with the required products by the customers lead to increase in sales.


Retail ML Pluto7 Google Cloud Premium Partner

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Pluto7 leverages the power of Google Cloud (GCP) to build tailored Artificial Intelligence and Machine learning solutions for Omnichannel Retailers. Connect previously inaccessible customers data to target, acquire, and effectively engage with them and create your churn reduction strategies. Reduce customer churn, predict high value customers, improve online sales, and customer retention. Help retailers improve productivity, reduce cost, and maintain customer delivery expectations with our custom Demand Forecasting Models. We drive innovation within the retail Industry.


How AI Can Help your Retail Business - Retail Council of Canada

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Note: This article is provided by Reshift Media, a Canadian-based digital marketing and development organization specializing in retail businesses. Artificial Intelligence (AI) is helping lead a digital transformation in the retail industry, with recent reports forecasting that global spending on AI systems will soar from $85.3 billion in 2021 to greater than $204 billion by 2025. These funds are allocated to a number of areas in AI development, but for most retailers, improving customer experience is at the forefront. With everything that the retail industry has faced throughout the pandemic, such as changes in consumer buying behaviour, the implementation of new technologies and BOPIS strategies, and the substantial rise of e-commerce, improving the customer experience has become essential. AI can help streamline that process for retailers in a variety of ways.


How ML In Supply Chain Optimization Is Improving Management And Efficiency

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Machine learning is one technology that has revolutionized industries by helping optimize their day to day processes. One such segment where the technology has made its mark is supply chain optimization and management. ML in the supply chain has made it possible for businesses to discover patterns and identify variables that impact the networks' success. Supply chain optimization or even management requires a business to continually look into data and discover the changing patterns. What has been a manual or a semi-automated process, now doesn't need manual intervention thanks to ML in the supply chain.