Sales Forecasting, Demand Planning, Marketing & Advertising, New Product Introduction Forecasting, Supply Chain Optimization
The retail and consumer packaged goods (CPG) industry is characterized by relatively low margins, high seasonality, demand variability, inventory risk, and influence of consumer sentiment. These characteristics amplify the importance of predictive analytics for key activities such as sales forecasting, demand planning, supply chain management, and inventory optimization. The bottom line is ensuring the right product is available at the right price at the right time, thus meeting customers' needs.
Ai-MicroCloud® enables you to develop, deploy and manage bespoke real-time domain-specific Ai applications in demand forecasting, logistics, floorplan optimization and in-store promotion placement, loss prevention, automated checkout and other intelligent stores components, e-commerce, and online personalized recommenders.
Ai-MicroCloud® enables integrating multiple independent data streams and the application of multiple algorithms, as appropriate, to create a single suite of retail analytics
Forecasting sales of a product or service plays an important role in the lifecycle of almost every retail company. Estimation of future sales can drive multiple management decisions, such as efficient inventory management, prevention or early detection of potential issues, price setting, and marketing.
Future demand forecasting is similarly crucial for retailers. For example, without a qualitative forecast, setting available stock levels can be particularly challenging. Retail forecast accuracy is negatively affected by rapidly changing market conditions and forecast errors can reach 30% or more. Demand planning is a challenging use case, but one with a large potential return.
Creating more accurate forecasts of the returns from the multitude of marketing and advertising channels and other choices available can enable a retailer to fine tune its marketing mix. Explore various scenarios' impact on forecast sales.
Use real time tactical and strategic changes to identify gaps and discover market opportunities. Provides an additional layer of intelligence by collecting and combining data from new information sources like IoT, GPS and electronic logging devices to adjust supply chain components, stock levels, shipments and order tracking.
Captures video, generating a heat map, recording the number of patrons, then integrates the results, drawing a box around each detected person.
Monitors the activity of people inside and outside a defined storefront footprint and keeps track of product inventory.
Analyzes facial expressions and reactions to product advertising positioned on retail shelves.
Detects number of people entering into a restricted zone and sends an alert.
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