Retail Merchandiser - March/April 2018 - 74

SOLUTION PROVIDER RETAIL SOLUTIONS

AI-Enabled Retail
Artifical intelligence enabled solutions, powered by machine learning, are poised to deliver unprecedented insights and create a new retail paradigm. BY SY FAHIMI AND RYAN POWELL
er intelligence applications, built on
machine learning, can evaluate trillions
of data combinations - far more than any
human or traditional enterprise system
ever could - to deliver highly targeted
recommendations to retailers, CPG
manufacturers and customers alike. By
removing human biases and limitations,
physical retailers can do as Amazon
does: optimize their strategy in real-time,
based on complete data, to improve the
shopper experience and deepen relationships with their customers.

Personalized Marketing

T

he rise of e-commerce and
the corresponding explosion
of digital shopper data redefined retailers' customer
intelligence limitations, revolutionized
shopper engagement practices, and
changed customer expectations. Over
time, as omni-channel retailing became
pervasive, shoppers' online behavior
data became the catalyst for sweeping
improvements to customer engagement
across physical and digital touchpoints.
74

RETAIL-MERCHANDISER.COM

Yet the limitations of applying digital
data in-store traditionally meant that
online retail maintained an intelligence
and personalization advantage. However, that paradigm is quickly shifting.

Breaking the Rules
Modern store systems are now capable of
aggregating massive data sets from nearly
every consumer touchpoint - digital or
physical - and have emerged as powerful
competitive assets. AI-enabled custom-

Volume 58, Issue 2

The greatest benefit of AI-enabled applications is that they can identify trends
or anomalies among those trillions of
data points to predict future behavior
faster and more accurately than any
human operator. They're able to project
outcomes and guide marketing decisions
based on any combination of potential
inputs, such as a targeted discount for a
certain product or the introduction of a
private label alternative to a low-margin
supplier item.
At the consumer level, rule-based
algorithms are limited by their understanding and segmentation of historical
data. While marketing campaigns using
this foundation are today considered
'personalized,' they are not comprehensive and often result in plateaued redemption and incremental growth rates.
In contrast, AI-enabled personalized
marketing solutions can anticipate
consumer needs by analyzing trillions
of combinations per household and
identifying signals in historical data that
predict future behavior. By giving the
system the freedom to choose from an


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Table of Contents for the Digital Edition of Retail Merchandiser - March/April 2018

Contents
Retail Merchandiser - March/April 2018 - Cover1
Retail Merchandiser - March/April 2018 - Cover2
Retail Merchandiser - March/April 2018 - 1
Retail Merchandiser - March/April 2018 - Contents
Retail Merchandiser - March/April 2018 - 3
Retail Merchandiser - March/April 2018 - 4
Retail Merchandiser - March/April 2018 - 5
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Retail Merchandiser - March/April 2018 - Cover3
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