Digital transformation is not a new concept. In the past few years, all walks of life have been facing pressure from the increasingly accelerated pace of technological change. The COVID-19 epidemic that spread across the world in 2020 forced companies to accelerate their transformation and turned them to a digital-first business model.
The retail industry is an industry that urgently needs to adjust in response to changes in the epidemic. Many retail industries are keeping up with the pace of transformation. Over the past seventy years, the retail industry has gone through several stages of transformation, from the rise of department stores to the development of supermarkets. The argentina whatsapp number data 5 million realization of mass production has led to the popularity of chain convenience stores like 7-11. Driven by e-commerce companies such as Amazon or Alibaba, we are now in the fourth wave of change in the retail industry. The focus of this stage of change is on the application of technology, not only to better meet and predict Consumer demand must also make the supply chain at every stage of the retail industry more efficient. It is foreseeable that in the future, more and more data will be applied to the three core elements of the retail industry, namely stores (or websites), products and customers.
Artificial intelligence is the key to driving the role of data. It can discover patterns and insights in data faster and more efficiently than humans, because artificial intelligence can make extremely extensive observations on massive amounts of data in a way that humans cannot do manually. You can set a specific goal for AI, such as analyzing the complexity of the customer journey. Artificial intelligence not only has the ability to analyze numerical and textual data, but also processes so-called "sensory" data, such as collecting and analyzing visual clues when customers browse products.
The way it interacts with consumers
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