Comment
Author: Admin | 2025-04-28
To notify about specific current promotions or goods on sale. That’s a great way to create a loyal customer base. And the more loyal your customers are, the more they’re going to spend with you.Giant retailers like Auchan gather data from a few sources at once. Still, the most critical information is the sales data they get from the sales counter’s point.That’s how they can forecast which products are selling well and which aren’t. Data can also be collected by directly speaking to the customer, observing their behavior, and gathering feedback.Carrefour, inventory managementCarrefour, a French company, uses AI predictive analytics for retail business. They used Viya—an AI-powered software made by SAS to optimize inventory management. The platform collects data from warehouses, stores, and websites to predict demand and supply orders. It helps Carrefour reduce stock outages as well as overstocking in stores and warehouses.Source: UnsplashShowroomprive.com, battling customer churnCustomer churn prediction software aims to catch straying customers before they switch to another company or service provider. Of course, you’d better be informed about such attempts and, in a perfect world, stop them from recurring.E-commerce predictive analytics helps find out which customers are likely to churn and when. For example, showroomprive.com, a French e-commerce website, uses forward-looking analysis to manage customer churn. They evaluate each new customer and use the data to make precise marketing campaigns. That makes showroomprive.com ads more personalized and gets more responses from customers.Final thoughtThe bottom line is that predictive analytics development is a long and complicated process that should be entrusted to experts in analytics and data science. People that work with prediction models require expertise in big data, artificial intelligence, and machine learning. In most cases, it’s an IT company that takes care of the retail software development. The process does not imply one program but
Add Comment