With the power of AI, retailers and wholesalers are able to provide an immersive shopping experience that can line up particular customers with the products they care about. (Something humans alone cannot solve cost-effectively at scale)
In today’s climate, big tech companies like Amazon and online grocery delivery applications like Postmates are winning over customers due to their omnichannel experience. In order for grocers to stay ahead of the competition, it is vital for them to pair their domain knowledge with AI/ML to better plan, forecast, and optimize.
Many retailers and wholesalers today use disparate spreadsheets and legacy systems to analyze their data. By investing in AI, businesses can bring all of their data into a single platform, making collaborating, planning, and analyzing significantly more effective. Likewise, utilizing AI gives businesses the opportunity to analyze billions/trillions of data points to accurately maximize their desired goals.
Rather than relying on just gut feeling or industry knowledge, AI has the potential to provide powerful what-if capabilities that can simulate thousands of possible scenarios and provide prescriptive recommendations. This gives the business the opportunity to reach its desired goals around sales, quantity, revenue, or margin.