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How Retailers Use Artificial Intelligence to Innovate Customer Experience and Enhance Operations

Altexsoft

For this article, we discussed current and potential applications of AI in retail, as well as the state of the industry in general, including factors that drive adoption of cognitive technologies. In-store cameras and sensors detect each product one takes from a shelf, and items are being added to a virtual cart while a customer proceeds.

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Inventory Management Software: How Technology Addresses Inventory-Related Issues

Altexsoft

On the other hand, if your company is a part of the supply chain, whether you deal with manufacturing, manage a warehouse, or run a retail store, you’re probably familiar with such problems as time-consuming inventory counts, running out of stock because of late reordering, or shortages due to inaccurate demand planning.

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Demand Forecasting Methods: Using Machine Learning and Predictive Analytics to See the Future of Sales

Altexsoft

But there are technologies to improve the accuracy of demand forecasting. What is the top pain point for business executives? The world’s largest IT research firm Gartner gives a clear answer: demand volatility. Worse still, things reshaping customer intentions happen quite unexpectedly. Here, again, we return to forecasting.

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Dynamic Pricing Explained: Use in Revenue Management and Pricing Optimization

Altexsoft

How would you price tickets not only to cover expenses for each route but also to achieve a certain level of revenue to be able to grow and develop your business? Would you consider fixed costs, competitor prices, or both? Two biggest tasks businesses have to address in this regard are revenue management and price optimization. Pricing automation.

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Demand Forecasting Methods: Using Machine Learning and Predictive Analytics to See the Future of Sales

Altexsoft

But there are technologies to improve the accuracy of demand forecasting. What is the top pain point for business executives? The world’s largest IT research firm Gartner gives a clear answer: demand volatility. Worse still, things reshaping customer intentions happen quite unexpectedly. Here, again, we return to forecasting.