Staying ahead of the curve
Industry Challenge
The retail industry is growing exponentially, and retailers are looking to benefit from AI for modifying and modernizing their market strategies. With a B2C set-up, the retail industry generates a large amount of customer data. Data analytics can leverage all the data to gain insights and influence the customers’ choices.
Business Need
Data science has a lot to offer to the retail sector. Most retailers are using Data Science solutions to enhance customer experience, brand loyalty and improve brand awareness.
Advantage Rubiscape
Rubiscape helps you align your retail business with customer needs and adapt to the changing market dynamics. Data analytics can change how you optimize inventory, predict and adjust prices, categorize products, and track customer satisfaction.
Creating customer delight
Inventory & Sales Forecasting
Identify obsolete items in the store, eliminate order duplication, and achieve better utilization of stock items. Use ML techniques to detect sale patterns and supply chain trends, and decide the optimal stock.
Sentiment Analysis
Detect purchase trends & patterns, locations, channels, and devices through comments to identify popularity and sentiment about commodities and find ways to convert those into an actual sale.
Recommendation Engines
The retail product recommendation engines are popular with e-commerce sites and 24X7 open online stores. They help influence user experiences by bringing intelligent automation to the fore.
Powering Augmented Reality
AR gives a lot more information about a product than conventional modes of advertisement. A 3D view makes it easy to comprehend how a product would look at the customer’s location.
Price Optimization
Generate forecasts based on costs, customer expectations, and competitive pricing to detect the right price, both, for the customer and the resellers.
Customer Lifetime Value
CLV modeling can help retailers better understand the buying profile of various types of customers and help them value their business accurately.
