The state of the retail industry is constantly changing with online gaining popularity over brick and mortar. With the infiltration of artificial intelligence and machine learning into every industry, retail is no different. Consumers want the best deals and personalised experiences that are delivered in the most convenient way possible. In this post, I am going to talk about how AI-powered predictive technologies help drive sales and then introduce DotModus Product Insights.
What is predictive technology?
Predictive technologies are tools that identify and analyse patterns in data about past behaviour to help us forecast future behaviour. Retailers are utilising predictive technology to optimise marketing activities as well as to identify and solve pain points within the sales process.
One such tool is Recommendation AI from Google Cloud. Recommendation AI delivers high-performing recommendations at any customer touchpoint including the website, mobile experience, email and contact centre – no manually curated rules or cumbersome recommendation models required. Recommendations are accurate and will lead to higher levels of cross- or upselling as well as conversions.
DotModus Product Insights uses Recommendation AI to assist you with product recommendation. The tool considers things like customer behaviour as well as changes in variables such as promotions, pricing, and availability.
What is DotModus Product Insights?
DotModus Product Insights leverages cloud technology to help businesses use the data they already have to improve sales, operations and customer experiences. We know that businesses need to be able to adapt as quickly as possible to stock availability changes, purchasing trends and customer needs. Thus helping businesses optimise customer experiences, sales forecasting and product recommendations.
You can combine data from various parts of your business to uncover patterns that traditional analytics often miss. This lets you make granular predictions regarding products during volatile periods. The tool also lets you automate the sales forecasting process using machine learning technology.
Final thoughts
You can give your customers a personalised experience by using predictive tools such as Recommendation AI and DotModus Product Insights. This allows you to remain competitive even during disruptive times. If you would like to find out more about DotModus Product Insights, feel free to contact us.
