Retail has faced many hurdles due to the economic climate which has been further compounded by the impact of lockdown. This, of course, is very challenging. Argility’s artificial intelligence analysis tool, PredictRetail, is the answer.
This cost-effective cloud solution improves business insights, supports growth, plus it enhances your knowledge of your business and customers. It heightens shopper retention and empowers retailers with the ability to boost sales to current and new customers. All of this in turn leads to boosted profits and sustainability. Key dashboards enable you to keep operations running smoothly and maximise profitability.
Given the current COVID context and the fact that all patterns and consumer behaviours have changed, now is an ideal time to utilise analytics, based on machine learning (ML), to quickly pick up on the new trends. These tools are designed to aid business leaders to make informed decisions and as such to counter the disruption caused by COVID.
PredictRetail comes with several standard predictive models that are focused on key areas, these include customer: lifetime value; forecasting (propensity to buy); segmentation; product recommendations and more. There are extensive descriptive dashboards based on key forecasting models including: sales; stock management and selling patterns.
PredictRetail applies data science and predictive modelling based on historical data, to extract trends and patterns which will aid informed decision making.
Descriptive dashboards are created from existing customers’ historical data. ML models are then used to generate new data sources i.e. predictions/classifications etc., and then predictive dashboards are redeployed on top of the new datasets. This is a defining differentiator between PredictRetail and the average business intelligence (BI) tool which is designed mainly for visualising data and descriptive analytics without ML.
The power to slice and dice information at lightning speed by organisational and product hierarchies, is enabled through the Google Cloud Platform, allowing for a pay-as-you-use model, and alleviating the need for massive infrastructure investment.
Once we have transformed your data, and with a little training, you will be ready to take advantage of trends and patterns never before seen which could transform your business with dynamic effect.