While AI plays a major role in modern analytics, retailers need to understand its timing, uses and the opportunities available to make the most out of it. For instance, while AI-infused analytics can help companies rapidly make decisions, that doesn’t mean they should throw out their proven legacy analytics tools.
AI is particularly suited for analyzing factors that are too complicated for humans to crunch across large retail chains such as market metrics, community health information and weather. The technology also is highly useful for merchandise planning and forecasting, to help ensure retailers have the right products in the right places at the right time — the so-called “Holy Grail.”
For more tips on how best to utilize AI, check out this infographic from RSR and Cloudera.
