Predictive tools for Retail and Direct-To-Consumer
We develop Artificial Intelligence and Machine Learning tools to help our clients take predictive decisions, to make product conversation with final customers more relevant, to increase conversion rates, to make internal processes more effective
The context
> Business decisions are taken in complex scenarios that require control of increasing number of parameters
> The influence of each factor to performance and results is often difficult to measure and to convert into decisions for better respond to customer expectations
> Changes on trends and behaviour demand frequent reviews of product strategy, financial targets and tactical actions absorbing precious time of the internal team
> The amount of available data coming from different sources is offering unparalleled opportunities to develop innovative tools
Applications
AI and ML can deliver benefits in a broad number of scenarios, 5 of them are:
1. time-series prediction, by elaborating the seasonal, trend, cyclical components provides a strong support to the team developing Merchandise Financial Plan, Pre-Season Planning, In-Season Re-Forecastbr
2. impact of qualitative and quantitative parameters on product performance to identify drivers that determine rate of each item in the assortment
3. sales potential prediction of new products based on the performance of the most similar products of previous seasons, helps identify the right product quantification by single option
4. product recommendation system for registered customers, makes conversation with customers more relevant and increase conversion rates
5. identification of store cluster with common catchment area, quantitative and qualitative characteristics to homogeneously manage similar and predict behaviour of new stores
Our skills
Ispira team puts together Retail e del DTC skills with the extraordinary knowhow of our Data Science team to develop performing, innovative tools the successfully address the challenges of our clients
Download our introduction document and contact us for an initial conversation
