From 7 a.m. until well past dusk, seven days a week, N. Sudhakar sits behind the counter of his hole-in-the wall grocery store in the south Indian city of Bangalore. It's a carbon copy of the roughly 12 million family-run "kiranas" found on almost every street corner in India. The shop is on a busy street in the Whitefield district, formerly a quiet suburb but now a major hub for the city's booming IT industry. Apartment blocks loom behind his shop, housing hundreds of workers employed in the tech parks that dominate the surrounding area. These days, the same technology industry that helped Sudhakar's business thrive is presenting stores like his with a new challenge.
As Pinterest sets its eyes on improving the online shopping experience on its platform, the company announced this afternoon it's acquiring the AI-powered shopping service for fashion known as The Yes, founded by e-commerce veteran and former Stitch Fix COO Julie Bornstein and technical co-founder, Amit Aggarwal. Deal terms were not disclosed, but the acquisition will help to establish a new strategic organization within Pinterest to help drive the company's shopping efforts, including the development of features for both shoppers and retailers, the company says. The Yes arrives at a time when Pinterest is attempting to navigate a shift in how people shop online. While users once relied on Pinterest's pinboard of images to find inspiration, today, they're more drawn to creator content, video and highly personalized feeds. The Yes may be able to help with the latter, given the technology it runs under the hood.
This article was published as a part of the Data Science Blogathon. Customer churn or attrition is one of the most crucial problems for any business that directly sells or serves customers Be it Telecom service providers, eCommerce or SaaS businesses it is important to track and analyse how many customers are leaving the platform and how many are sticking and the reasons behind them. Knowing customer behaviour can greatly enhance decision-making processes and can further help reduce churn to improve profitability. In this article, we are going to analyse an eCommerce dataset and find the best model to predict customer churn. But before delving into analysis let's have a brief look at what is churn Customer churn can be defined as the rate at which customers leave a platform or service.
Singapore has officially launched a centralised data platform that it says will streamline information flows across a fragmented global supply chain. The data exchange already has garnered at least 70 participants that include logistics operators, banks, and energy companies. Called Singapore Trade Data Exchange (SGTraDex), the common data platform was first introduced in November 2020 as a pilot that aimed to improve data efficiencies in container flow and financial processes. The project is led by Alliance for Action (AFA) on Supply Chain Digitalisation, one of seven industry groups the government had established to identify and prototype new ideas to drive the local economy. The other alliances focus on key growth areas such as robotics, e-commerce, and environmental sustainability.
One of the most common challenges in an e-commerce business to build a well-performing product recommender and categorisation model. A product recommender is used to recommend similar products to users so that total time and money spent on platform per user will be increased. There is also a need to have a model to categorise products correctly since there might be some wrongly categorised products in those platforms especially where most of content is generated by users as in case of classified websites. A product categorisation model is used to catch those products and place them back into their right categories to improve overall user experience on the platform. This article has 2 main parts.
Pandion, the e-commerce delivery network powered by machine learning and led by Amazon Air Founder Scott Ruffin, has hired Lori Tenan as the company's first chief revenue officer (CRO). Tenan is a recognized leader in enterprise sales, having most recently led the post-purchase platform Narvar from its infancy to eight years of hyper-growth. "Since emerging from stealth a year ago, Pandion has used machine learning technologies to help Fortune 500 companies deliver millions of packages and provide an unmatched experience for their customers. Having Lori Tenan join as CRO will help identify new opportunities to augment our growth while ensuring our customer experience is best in class," said Scott Ruffin, Founder and CEO at Pandion. "Lori's experience and success in this space speaks for itself and with our ambitious plans for the year, this was the perfect time to bring Lori onto the Pandion team."
The retail business is getting back on track and has been witnessing steady growth after the dismal impact of the third wave. There has been buoyancy in the market with the removal of lockdown restrictions. After a long time of distress and uncertainty, things are getting back to normalcy as businesses have started taking pertinent steps to resume operations and focus on sales, marketing, and inventory management. The realization of digital transformation coupled with the indispensable role of artificial intelligence (AI) has been one of the major outcomes of Covid-19 implications on the retail sector and the vast possibilities and opportunities it can create with such transformations. With the emergence of e-commerce, buyers experienced the first crucial shift that successfully made it possible for them to buy things from anywhere at any time.
In the midst of unprecedented volumes of e-commerce since 2020, the number of digital payments made every day around the planet has exploded – hitting about $6.6 trillion in value last year, a 40 percent jump in two years. With all that money flowing through the world's payments rails, there's even more reason for cybercriminals to innovate ways to nab it. To help ensure payments security today requires advanced game theory skills to outthink and outmaneuver highly sophisticated criminal networks that are on track to steal up to $10.5 trillion in "booty" via cybersecurity damages, according to a recent Argus Research report. Payment processors around the globe are constantly playing against fraudsters and improving upon "their game" to protect customers' money. The target invariably moves, and scammers become ever more sophisticated.