Genius models human reasoning, and applies it wherever there are pressured, time-intensive and complex decisions to be made.
The playing field for wholesalers is changing drastically. Large web stores attract power and take on more tasks from traditional wholesalers. In addition, consumers can easily order products online from abroad, whether or not with “new” competitors such as AliExpress.
The position of the wholesale companies in this playing field is becoming more challenging. They must be the determining and indispensable factor in the chain. But how do you maintain or grasp the role of chain director as a wholesaler?
Artificial Intelligence can help wholesalers turn their data into powerful insights so that by predicting buying behavior of customers a new competitive advantage can be created.
Retail is one of the oldest platforms for a buyer to interact with a seller. Long before e-Commerce and m-Commerce hit it big, the retail industry relied on great product displays, competitive pricing and effective salesmanship to get the job done. The retail industry is the perfect candidate for Artificial Intelligence as it generates data with great volume, variety and velocity.
According to a study published in Harvard Business Review, companies creating the perfect ‘omni-channel experience’ by using data analytics increased their shareholder’s value to 8.5 times.