Advanced technology is essential for retailers to create sophisticated and effective targeted promotions. With advanced technology, retailers can better connect, collect, and plan for more data.
But it’s not just about collecting the data and implementing advantaged technology…
Retailers also need to think about scalability and models that are specifically trained for their use cases.
The number of decisions for targeted promotions reaches trillions. Successful targeting and analysis can only be achieved by leveraging the latest technology and trained ML/AI models.
When scalability and trained models have been considered, AI and ML have the capabilities to:
Connect customer and product data across all channels such as digital, loyalty, demographic, transaction, and third-party data.
By having access to this amount of data and leveraging advanced technology to process and analyze, retailers know what product to promote and how they will promote it to their target audience.
Predict, measure, and modify promotions in order for the retailer to select the promotion that best contributes towards their objectives.
With the help of advanced technology, retailers are able to increase customer loyalty with relevant personalized promotions while also meeting business objectives.
Founded by experienced data scientists and retail experts, Cognira is the leading artificial intelligence solutions provider.
