{"id":605,"date":"2016-08-19T09:45:12","date_gmt":"2016-08-19T09:45:12","guid":{"rendered":"http:\/\/www.sphinx-solution.com\/blog\/?p=605"},"modified":"2024-09-30T11:58:04","modified_gmt":"2024-09-30T11:58:04","slug":"how-retail-industry-can-utilize-machine-learning","status":"publish","type":"post","link":"https:\/\/www.sphinx-solution.com\/blog\/how-retail-industry-can-utilize-machine-learning\/","title":{"rendered":"How Retail Industry Can Utilize Machine Learning?"},"content":{"rendered":"

Long ago retail industry has embraced technology for extending their storefront to customer\u2019s fingertips. In fact, there has been a subtle transition between how customers and brands react with one another. Today, customers are knowledgeable; almost 81% of customers conduct independent research before entering the store.<\/strong><\/em><\/p>\n

Mobile apps, Shopping carts. Online payment portals and discount couponing websites have changed the way we used to shop. It has become easier to shop your favorite products from social media and compare prices without even leaving the store. Although the retail industry has evolved a lot due to digital technology, you can say it still is in its infant stage.  Need All said features to check Sphinx Solution’s eCommerce Development Services<\/a>.<\/p>\n

Implementing Machine Learning Tools Has Enhanced Customer Experience<\/h2>\n

Have you lately logged on to any of the e-commerce websites? Have you noticed the change?<\/p>\n

For example, log-on to Amazon.com and you will be welcomed with an entirely new shopping experience\u2026only if you have witnessed it. The advertisements and the special deals are all tailored to suit your unique shopping behavior based on your previous browsing habits.<\/p>\n

E-commerce giants like Amazon were the first few to venture into customer data collection and analysis. They did this to enhance their services and personalize the consumer shopping experience. In fact, some of the online shopping websites have become so predictive, that they understand what you will be purchasing today, way before even you make up your mind.<\/p>\n

The Archetype Shift in Retail Industry <\/strong><\/p>\n

There has been a paradigm shift in the way businesses used to interact with their customers, due to the advancements in digital technology. Increasing competition, a growing number of touch points and limited opportunities it has become more important to satisfy a customer on a person-to-person level. In order to offer enriching customer experience, developed customized and customer-centric interactions the pressure of offering absolute Omni-channel communication has made it inevitable for the modern retail industry to use of machine learning tools and applications.<\/p>\n

Five Machine Learning Possibilities to Enhance Customer Experience<\/h2>\n