Retailers looking to remain competitive are increasingly relying on artificial intelligence (AI) and predictive analytics to better understand and enhance the customer experience (CX). While leveraging technology to improve CX is not new, for a long time it was only big-box retailers that could afford to implement and scale tools such as machine learning and sentiment analytics. This often led to big-box retailers maintaining a competitive advantage. Today, however, this trend is shifting.
Small and midsized retailers are now able to compete alongside the major players by using advanced AI as a service tools. These tools provide the power to glean insightful customer information that informs new strategies and improves competitiveness.
This white paper features insights from the BDO Retail & Consumer Products Practice and reveals:
- Where AI and people intersect;
- How targeting a niche customer base may result in higher profitability;
- Why data-driven insights used to shape CX are critical to effectively respond to the market and, ultimately, succeed.