For businesses to be successful, we genuinely believe it's vital to have a connected IT ecosystem. Everything and everyone in your digital ecosystem should connect across channels, devices, and platforms. Companies with a connected infrastructure are far outpacing their competitors. This blog is for companies with digital ambition. We'll look at one of the reasons why you should be thinking of an integration strategy: machine learning and artificial intelligence.
McKinsey followed a selection of major retailers already using and experimenting with artificial intelligence in the following areas:
- Products and prices - product prices (B2C and B2B), trends, upsell related products, personalized promotions and pricing
- Warehouse and stock - optimized stock levels, purchases, and purchase prices
- Planning - demand forecasting
- Returns - how returns are handled
- R&D - automatized test processes, speed-up R&D, and predicted outcomes
- Customers - automatized customer segments and profiling interests
"Companies who are using Ml and AI to run their business are 35% more successful." - McKinsey
AI requires a significant amount of data to be effective, especially from different parts of the customer journey.
- Pricing
- Delivery satisfaction
- RMA & Returns
- Support tickets
- Financial data
- Weather
- Customer Satisfaction
- Speed of service / delivery
- Contact sales / physical store
This blog, 'Machine Learning and Artificial Intelligence,' only showed one of the eight advantages of why it is interesting to include an integration platform in your IT infrastructure. Learn more about the benefits of an iPaaS in our other blogs or download the white paper: '8 Reasons to have an iPaaS solution in your IT eco-system.'
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