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Retail Sales Data: A Pivotal Element in Advanced AI Modeling

Defined.ai blog

Regarding the digital age and the rise of artificial intelligence, one phrase rings especially true: data is king. Specifically, retail sales data is emerging as a goldmine for businesses looking to leverage AI. But what exactly is retail sales data, and why is it taking center stage in AI advancements?

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Retailers can tap into generative AI to enhance support for customers and employees

IBM Journey to AI blog

As the retail industry witnesses a shift towards a more digital, on-demand consumer base, AI is becoming the secret weapon for retailers to better understand and cater to this evolving consumer behavior. Generative AI excels at handling diverse data sources such as emails, images, videos, audio files and social media content.

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Commerce strategy: Ecommerce is dead, long live ecommerce

IBM Journey to AI blog

Early on, ecommerce marketing strategies touted the novelty of tax-free, online-only retailing that incentivized consumers to select an online channel both for convenience and better pricing options. Can the customer trust a business to make it easy to control their own data? But the paradigm has shifted.

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Security AI and automation are key in protecting against costly data breaches for retailers and consumer goods businesses

IBM Journey to AI blog

The rise of online commerce over the last two decades has completely transformed the retail and consumer goods industries—and with smartphone adoption accelerating globally, the share of shopping done via the internet will only continue to expand. With worldwide e-commerce sales totals expected to reach $8.1

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10 Technical Blogs for Data Scientists to Advance AI/ML Skills

DataRobot Blog

Savvy data scientists are already applying artificial intelligence and machine learning to accelerate the scope and scale of data-driven decisions in strategic organizations. These data science teams are seeing tremendous results—millions of dollars saved, new customers acquired, and new innovations that create a competitive advantage.

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6 ecommerce trends to watch

IBM Journey to AI blog

Some forecasts suggest online retail might be responsible for half of all retail revenues by next year. In what McKinsey refers to as “the e-commerce catch-22,” many retailers with significant growth in ecommerce sales through 2020 and 2021 saw their margins decline.

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Customer experience examples that drive value

IBM Journey to AI blog

Organizations that provide an excellent customer experience (CX) can improve sales revenues by 2 to 7 percent and profitability by 1 to 2 percent, according to McKinsey. Focusing on good CX can increase customer satisfaction and drive more meaningful customer interactions, ultimately increasing sales and customer retention.