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Why We Crave Machine Learning And AI Posted on Dec 06 - 2017

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Consumers have been able to express their desires better with the adoption of tech and there is no reason why businesses won’t cater to experiences that make the users’ lives better. In response to this, app and software developers are able to leverage tools that meet these expectations to present products and content that reflect a shopper’s past picks, experiences and preferences.

Artificial Intelligence backed by Machine learning capabilities and Data Analytics as services is on the rise in e-commerce in order to bring about what is termed “conversational commerce”. Whatever the platform maybe, AI implementations give shoppers a user friendly entry into their offerings. Thus the markets have also become increasingly competitive to the point that products and business models must change and adapt frequently in response to evolving market dynamics.

Why Data Analytics Matters

Whether it be an upward blimp in growth, or a downward turn, we always turn to the data when tracked KPIs change unexpectedly. Why did conversion rate suddenly go down? What city caused it? What product was most impacted? And how can I prevent this from ever happening again?

A business intelligence team at a company with a data-driven culture will cultivate, curate, and refine the data such that the business is able to drill down into the specifics of a metric and its symptoms at high granularity and dimensionality. In turn, growth signals are exploited at their fullest, and more importantly, emerging issues are triaged as quickly as data can be made available. With an extensive BI platform, we can quickly identify the root cause of declining KPIs, and ensure that we do not make the same mistake again, or put features in place to prevent it from reoccurring. As the renowned essayist and philosopher George Santayana put it, “Those who cannot remember the past are condemned to repeat it”. View More

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