Leading retailers know that customer experience and streamlined operations are key to their success and artificial intelligence (AI) in retail helps in both directions. Companies that are making extensive use of AI can identify opportunities faster and take model-driven decisions.
Retail Is Improving Thanks To AI
We live in uncertain times, where ‘thanks’ to the healthcare situation market forecasts are changing on a monthly basis, while at the same time customer requirements are growing. For these and other reasons an increasing number of retail and wholesale companies are turning to data analysis in their aim to stay ahead of the curve. At HyperAspect, we transform these huge amounts of data into actionable insights.
Retail AI companies are using the technology for a number of scenarios including, product recommendations based on customers’ personal interests, managing supply chain and inventory, and optimizing marketing efforts. HyperAspect is empowering leading retail companies to adapt to the modern marketplace and make strategic business decisions.
HyperAspect Cloud Engineering
Our HyperAspect Cognitive Cloud harnesses the latest cognitive technologies to help retail companies, build intelligence applications that provide unique context-aware insights thus improving customer relationships, increasing operational efficiencies and build long-term competitive advantages.
The Future Of The Retail Industry Will Be All About AI
Retail businesses need a deep understanding of their potential clients to keep up with requirements and expectations. AI for retail will allow companies to identify consumer patterns and analyze their behavior, thus providing an advantage over competitors by facilitating data-driven planning and operations. Tackle the everyday challenges of your business using AI and provide a seamless experience to your customers.
Making the World a Better Place
Are you looking for ways to increase revenue in these difficult times? Nowadays, customers expect that their favorite retailer would know their habits, while providing the same excellent customer service. At HyperAspect, our goal is to assist retail companies in utilizing AI technology in an efficient and simple to use manner.
AI in retail will help you to understand your potential customers’ preferences and target the right audience, speed up daily processes, align product assortment, bring tech improvements to your eCommerce, and assist in recognizing possible financial risks. Go through some of our successful case studies and learn how we can help you.
Next Best Customer
Customer-centricity is in the core of every industry nowadays. Adopting automated self-learning decisions will help you to create better targeted campaigns, synchronized customer 360 images and will allow you to implement next-best action marketing and perform new customer predictions.
Implementing AI into your retail business will optimize most of your processes and the way how to make decisions. It will help you with ad placements, organizing the supply chain, your stock inventory and all your marketing efforts.
Staff Location Improvements
Our AI retail solutions will allow you to evaluate, which aisles are most popular among customers. Recognize foot traffic trends in real-time, and improve staff presence at the sweet spots.
In times when physical buildings are not vital, AI and machine learning will allow every retail business to scale down energy costs through tracking, accurate forecasting and anomaly detection. Meet your energy-efficient goals with HyperAspect.
Analyzing facial expressions of visitors, user reviews, social media comments and support calls to recognize customer sentiment is very valuable data. Use such recorded emotion to improve products and sales.
For your current customers, use data from their previous purchases to predict the number of days until their next order. That way you will always have in stock their favorite product and will never let them down.
Price and Site Optimization
Use data science to identify the optimal price, motivated by brand, category, competitiveness and even demographics. In the same way one can classify which sites could be expanded and which reduced for maximum efficiency.
Benefit From Artificial Intelligence (AI) In Retail
Working with retail AI solutions doesn’t have to be overly complicated and suitable only for IT personnel. At HyperAspect we aim at creating simple dashboards that are user-friendly, serve the exact industry needs and help in running your retail business in an efficient way.
We can assist in training models build on your own concrete data that will improve operations, target customers to a better extent and ideally – increase profits…and as we live in rapidly changing times – when the behavioral data changes, the models can be simply iterated and updated right away.
Make The Right Business Decisions
The retail industry is under severe pressure from both economic factors and customers expectations. Modern clients want to have the desired product at the right time at the right site or delivered on their terms. These tasks could be tackled by personalized communication, precise forecasting, supply-chain alignment, and real-time operational solutions. All this can be done by gathering customer-related data and interpreting it through machine learning algorithms. Omit the trial and error phase and make the right business decisions immediately. AI-driven retailers already see an increase in revenue and customer satisfaction, why not be one of them?