In the Gartner blog: On algorithmic merchandising. Good thoughts in the importance of data, process and analysis used with more concise and repeatable algorithmic methods.
" ... By 2020, merchant leaders will be algorithms, prompting the top 10 retailers to cut up to one-third of headquarters merchandising staff.
Predicts 2016: Digital Business Uproots Traditional Retail Revenue Generation
Analysis by Robert Hetu
Key Findings:
An explosion of digital business opportunities will cause retailers to increasingly rely on algorithms to manage complex business opportunities that will exist for as little as a single moment ...
Smart machines using algorithms will make complex decisions, such as merchandise assortment and distribution, product pricing and marketing messages.
The algorithmic economy is coming alive for multichannel retailers as they continue to seek better ways to drive decisions through advanced analytics. Some algorithms will be ubiquitous, and shared for the betterment of the industry. Others will be more directly aligned with the interests of the retailer, “the secret sauce,” and, as such, kept confidential. As the number of algorithms grows, and the quality variations expand, retailers will find that the management of algorithms will require an expert to oversee how they are cared for (which ones can be shared), and which ones provide even momentary competitive advantage. ... "
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