The ability to crack the AI code in retail
The digital transformation is changing the competitive landscape in retail at lightning speed, fueled by tech giants such as Amazon. Future retail is moving from transactional to experiential – where connected stores, personalization and transparent sustainable supply chains are major themes. Retailers that can’t keep up with this trend will (or have) become obsolete very quickly.
Survival in the retail industry is becoming more and more dependent on the ability of retailers to crack the AI code.
At VIQTOR DAVIS we support our retail clients in cracking that code, e.g. reinventing their supply chains and customer experience by creating a solid omni-channel data strategy & foundation as well as applying cognitive intelligence across the retail value chain.
Key retail trends
Industry-shaping trends are evolving the retail landscape as we speak.
- Consumers expect Connected Experiences enabled by memorable and seamless omni-channel touchpoints
- Retailers apply a Focused Targeting through highly tailored products, services and experiences based on profound learnings about consumers
- The rise of AI has opened up new ways for retailers to drive an Enhanced Workforce, e.g. in-store associates supported by smart apps (on inventory mgt., customer recommendations, etc.)
- Supply Chain Visibility is increasingly important for retailers in order to improve efficiency, ensure product availability & enable order tracking
- To maximize customer engagement, retailers need to understand Today’s Consumer and align with their evolvingcharacteristics (e.g. an increasing focus on living a healthy & sustainable life)
- Business Model Disruptions (e.g. the emergence of new marketplaces & direct-to-consumer) lead to new retail opportunities and/or threats
Retail value chain
The Retail value chain is comprised of key operational processes which take place within every major retailer to deliver the right product at the right time to its consumers.
Data driven retail
Data & AI empower Retailers to drive optimized business outcomes and achieve breakthroughs which redefine the Retail value chain possibilities.
VIQTOR DAVIS offers a unique combination: We are your partner in data strategy, governance, management, science and analytics. We provide professional services, full-service solutions and knowledge transfer. We call this Data Craftsmanship. Interested in finally generating the promised business value from your Data Science initiatives? Get in touch with our experts.