Category: Machine Learning

AI in Retail There are many diverse applications within retail, some of which have been quietly utilized under the radar for years. Others are more modern and are helping to change and improve the way retailers operate.  Whether you’re looking at marketing, customer service or even operations, there are many uses for AI in retail.

Demand forecasting, a part of predictive analytics, aims to improve business management while also meeting critical KPIs by using this data to understand and predict customer demand. By relying on historical sales data, the latest statistical techniques, and algorithms, it is possible to use demand forecasting to estimate future sales.

What is the “long tail theory”? So why do companies deal with the complexity of large assortments and offer all kinds of niche products to their customers? The answer to this question was brought to life by Wired’s editor-in-chief, Chris Anderson. Anderson theorized that consumers in the modern economy are increasingly shifting away from a smaller number