Retail

To strive in the challenging environment of retail, companies are using AI for a number of scenarios including product recommendations, demand forecasting, customer retention, and dynamic pricing. With huge amounts of data, especially in high-frequency e-commerce environments, retail is an ideal landscape for AI. At Faktion we drive three retail themes: Precision, Profitability and Personalization.

AI in the retail value chainto optimize profitability

Transform the shopper experience using AI

Personalization of the shopping journey is a direct path to value in retail. For maximum gain, retailers increasingly use AI to identify their highest-value customers. Using AI, the shopping experience can even become anticipatory, hereby assisting shoppers in their needs in unprecedented ways.

Having a direct impact on revenues, AI is used not only for building hyper-personalized and behavior-based recommender engines but is ultimately able to drive longer-lasting relationships and higher yields.

For the selling side of retail, AI can unlock clear business value by increasing customer loyalty as well as a shopper’s basket size. Contact your Faktion AI Consultant to learn more.

Upgrade your supply chain capabilities

AI allows retailers to optimize processes and operate with better precision from the customer all the way back through the supply chain.

Artificial intelligence is making a huge difference for retail supply chain optimization, as there’s a greater need for fast delivery to shops and end customers, and an increasing focus on tight inventory control. AI helps retailers understand exactly how their supply chain is operating, make improvements throughout and eliminate waste and overhead.

For the supply side of retail, AI can unlock clear business value by increasing operational efficiency and reducing cost.

 

AI solutions for Retail

The opportunities for retailers to capture better business intelligence about everything from inventory to staffing to delivery and operations are enormous. Retailers that embrace these opportunities and think through how to introduce AI into every part of their organization will survive and thrive.

Industry focused AI Solutions

Contact us to learn how Faktion operationalizes machine and deep learning for Retail and E-Commerce.

Inventory Optimization

Reduce inventory holding costs, improve cash flow and supply chain visibility, and increase the productivity of inventory analysts.

Hyper-Personalization

Leverage AI/machine learning to create an anticipatory approach to shopper needs and preferences that transforms their omnichannel experiences.

Assortment Optimization

Prime the assortment management process with realtime behavioral-based store clustering data (vs. just using past sales), and optimize store groupings to drive relevant assortments by format, store, department and category.
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AI in Retail