Improve Customer Service
[wtm_use_case_cats] Big data analytics offers businesses the potential to enhance their processes so that customers enjoy transacting online. Automating the sales interaction, lead generation, customer requests using AI Bot can ease the customer journey/experience with the business and prove to be an efficient way of keeping the customer engaged and costs low for the company. […]
Powering Augmented Reality
[wtm_use_case_cats] Many multinational companies, has been experimenting with new technologies to implement augmented reality in the shopping experience. Customers can choose clothes and see what they look like without actually wearing them. This helps in making decisions faster and saves the time and effort of customers. Feasability Low Type of expertise/ AI domain Artificial Intelligence […]
Warranty Analytics
[wtm_use_case_cats] E-commerce stores usually provide warranties for products that allow customers to deal with any problems at no cost during the warranty period. Analytics relating to warranty claims can help to determine the quality and reliability of products, problems with products, returns and even to keep a check on any fraudulent activity.Retailers and manufacturers can […]
Customer Lifetime Value Prediction (LTV)
[wtm_use_case_cats] Customer lifetime value is the total value of the customers profit to the company over the entire “lifetime” (usually 12-24 months). Essentially, it is the amount of money that they will spend on your products and services after the expenses of acquiring them as a customer. There are numerous types of CLV. The two […]
Fraud Detection
[wtm_use_case_cats] A fraud detection system helps companies to decrease unidentified transactions and increase company revenue and brand value. Many different forms of fraud exists in E-commerce businesses such as Interception Fraud, Chargeback Fraud, Payment Fraud, Promotion Abuse or Sign-up Fraud.We can detect suspicious behavior by using data science techniques like matching algorithms, anomalies detection, classification […]
Price Optimization
[wtm_use_case_cats] Price optimization techniques focus on finding the price that maximizes a defined cost function (or company’s margin), considering many factors like flexibity of prices, location of the customer, seasonal effects, special events and competitor pricing. Price automation without machine learning is based on pre-defined pricing rules, while with machine learning implies training a model […]
Personalization
[wtm_use_case_cats] Personalization is the process of creating customized, pleasing experience for visitors. Every customer sees a slightly different version of your website which is defined by the particular audience segment the shopper falls into. Using the customer segmentation, scoring efforts with predictive modeling and recomendation engines tells the business who should they personalize their site […]
Inventory management
[wtm_use_case_cats] Machine learning-bases approach with a deep neural network(DNN) at its core, solves an inventory optimization task more effectively than other approacches do. We skip the demand forecasting stage and calculate inventory directly. This means that we won’t have to make wild guesses about demand probability distribution. Instead, a DNN will scrutinize most detailed historical […]
Customer Segmentation
[wtm_use_case_cats] Customer segmentation is the practice of dividing a company’s customers into groups that reflect similarity among customers in each group. The goal of segmenting customers is to decide how to relate to customers in each segment in order to maximize the value of each customer to the business. Types of Customer Segmentation in the […]
Market Basket Analysis
[wtm_use_case_cats] Market basket analysis works on the concept – if a customer buys one group of items, they are more or less likely to buy another set of related items. In retail, customers purchase items based on impulse, and market basket analysis works on this principle by predicting what the best chances of a customer […]