Artificial Intelligence and its need in retail

Napse Talks is a series of webinars where omnichannel and changes in consumer behavior are discussed. In one of [...]

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Napse Talks is a series of webinars where omnichannel and changes in consumer behavior are discussed. In one of these meetings, technology experts from Raízen, Axion Energy and Napse concluded that seasonal discounts or sales are no longer enough to attract the will of buyers and today it is essential to know the habits of customers to anticipate with the offer.

Artificial Intelligence and data analysis then become key pieces of digital marketing strategies, personalization of the user experience and inventory management.

Martín Ruiz, Commercial Operations Manager at Axion Energy, highlighted that the vital component is data, but of quality and quantity, with which a data lake (large source of clean and organized data) can be structured to perform advanced analysis.

Nicolás Montero, Applications Manager at Raízen, recalled that stores, which until a few years ago were limited to providing a ticket when closing a purchase, today try to identify their customers and learn more about the consumer and their consumption patterns, to create segments or micro segments that allow them to provide a differentiated offer. “To do this, we put together teams that collect more data and define segments based on AI algorithms,” he noted.

But Although data is considered an asset of companies, by itself it does not add value, Therefore, it is necessary to invest in Artificial Intelligence to facilitate the implementation of promotions and the segmentation of campaigns, which translates into satisfied customers and better sales.

Martín Malievac, director of Research and Development at Napse, pointed out that "retail can make decisions and modify the operation of a store according to different factors, such as location, seasonality or customer profile, and there are tools that help understand that information and analyze it with multiple variables, something that could not be done manually."

Diego Sodor, leader of Data Science & Analytics at Axion Energy, highlighted the importance of looking for useful data to profile the consumer, but emphasized the need to find similar patterns with other people, according to their interests and tastes and to offer promotions based on that data.

Technology helps industries get to know their users and identify how they modify their behavior when they purchase a product or service in physical or digital stores, both through the website or an application. This is because People act differently on different channels. Artificial Intelligence can detect these changes, interpret them and capture the context to speak to the customer in the right language and at the right time and according to the role they are playing. as pointed out by Eduardo Martínez, CIO of Raízen.

But AI can also help modify the layout of a store, to improve the consumer experience, increase sales and gain effectiveness in managing inventories throughout the commercial chain.

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