Cloud analytics in 2020: Guide to cost-effective analytics

Businesses from various industries are producing a vast amount of data they don’t benefit from. Data is only valuable if enterprises can benefit from the insights derived from it. Technical expertise and the cost of analytics investments can be a barrier to achieve this. Cloud analytics services bring the value of analytics to businesses quickly without extensive setup times.

AaaS also replaces on-premise analytics with a cloud-based system. This enables companies to replace investment with operating expenses. Given the highly evolving nature of modern analytics, this enables companies to try various analytics approaches before making a large investment. Read more

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Demand forecasting in the age of AI & machine learning [2020]

Businesses face different inventory challenges when they are dealing with supply chains. Demand forecasting helps businesses reduce supply chain costs and bring significant improvements in financial planning, capacity planning, profit margins and risk assessment decisions.

Machine learning algorithms improve forecasting methods in accuracy and optimize replenishment processes. With these advances, companies are minimizing the cost of cash-in-stock and out-of-stock scenarios.

What is demand forecasting?

Demand forecasting is a field of predictive analytics and, as its name refers, it is the process of estimating the forecast of customer demand by analyzing historical data. Organizations use demand forecasting methods to avoid inefficiencies caused by the misalignment of supply and demand across the business operations. Read more

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Top 7 AI applications to transform retail businesses in 2020

AI is transforming various industries including retail. We have identified several common artificial intelligence use cases in retail. We grouped these applications by the business unit served by the use case. Please note that this does not include AI applications that are applicable to all industries, we covered those in detail and retail companies would also benefit from them.

Store operations

Layout optimization

Computer vision provides advanced security and plans store layout for better customer engagement. Businesses perform analysis on in-store data to create heatmaps of their customers. With these heatmaps, organizations can optimize their store layout and can decide on their upselling and cross-selling strategies. MallIQ is, an in-store analytics vendor that aims to increase foot-traffic and sales of retail brands with targeted actions. Read more

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Retail Analytics in 2020: Uncover retail insights with AI

Retail analytics helps businesses gain critical insights about inventory, sales, supply chain activities, consumer demand, and more. By implementing an analytics-driven retail environment, organizations can make better decisions for procurement, marketing, merchandising, and operations. This, in turn, enables retailers to create a better buying experience and for identifying opportunities for organizational improvement.

What is retail analytics?

Retail analytics is the process of performing analysis on data to understand different perspectives of retail, such as customer behavior, supply chain & inventory management, and target marketing. This leads to insights such as drivers of sales, stock related issues and customer behavior characteristics. These insights helps companies make better marketing and operational decisions. Read more

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Machine Vision in 2020: In-Depth Guide

Machine vision is the eye of the industrial automation. Using cameras and sensors and computing power, machine vision techniques attempt to understand images and enable machines (robots or other industrial tools) to complete industrial tasks such as manufacturing and quality verification.

The working principle of machine vision consists of three different steps : capture, process and action. Machine vision is a key element of the industry 4.0. It helps industrial automation systems in numerous ways such as increasing efficiency by improving inventory and detecting faulty products and improving manufacturing quality. Read more

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