Remove Apparel Remove Marketing Remove Off-The-Shelf Remove Technical Review
article thumbnail

How Retailers Use Artificial Intelligence to Innovate Customer Experience and Enhance Operations

Altexsoft

For this article, we discussed current and potential applications of AI in retail, as well as the state of the industry in general, including factors that drive adoption of cognitive technologies. In-store cameras and sensors detect each product one takes from a shelf, and items are being added to a virtual cart while a customer proceeds.

article thumbnail

Dynamic Pricing Explained: Use in Revenue Management and Pricing Optimization

Altexsoft

The reality is that you’ll need a more sophisticated pricing strategy to fit into today’s highly competitive market and be flexible enough to adjust to any changes. Dynamic pricing is a practice of setting a price for a product or service based on current market conditions. Would you consider fixed costs, competitor prices, or both?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Demand Forecasting Methods: Using Machine Learning and Predictive Analytics to See the Future of Sales

Altexsoft

But there are technologies to improve the accuracy of demand forecasting. What is the top pain point for business executives? The world’s largest IT research firm Gartner gives a clear answer: demand volatility. Worse still, things reshaping customer intentions happen quite unexpectedly. Here, again, we return to forecasting.

article thumbnail

Inventory Management Software: How Technology Addresses Inventory-Related Issues

Altexsoft

On the other hand, if your company is a part of the supply chain, whether you deal with manufacturing, manage a warehouse, or run a retail store, you’re probably familiar with such problems as time-consuming inventory counts, running out of stock because of late reordering, or shortages due to inaccurate demand planning.

article thumbnail

Demand Forecasting Methods: Using Machine Learning and Predictive Analytics to See the Future of Sales

Altexsoft

But there are technologies to improve the accuracy of demand forecasting. What is the top pain point for business executives? The world’s largest IT research firm Gartner gives a clear answer: demand volatility. Worse still, things reshaping customer intentions happen quite unexpectedly. Here, again, we return to forecasting.