I recall a related approach suggested in the enterprise, but the right kind of data lacking, then the right data applied. Sounds like a fix found here?
Can AI solve e-grocery’s erratic out-of-stock substitutions? by Tom Ryan in Retailwire
As out-of-stocks became increasingly common in the early months of the pandemic, Walmart’s personal shoppers turned to artificial intelligence to help find the best substitutes.
“The decision on how to substitute is complex and highly personal to each customer,” said Srini Venkatesan, EVP, Walmart Global Tech, in a blog entry. “If the wrong choice is made, it can negatively impact customer satisfaction and increase costs.”
In the past, personal shoppers would determine the best substitute themselves, but Walmart found nearly 100 different factors can go into that decision. Mr. Venkatesan added, “Trying to account for all of these would not only be too difficult, but it would also be incredibly time consuming.”
The AI technology uses hundreds of variables — including size, type, brand, price, aggregate shopper data, individual customer preference and current inventory — to determine the next best available item. It then preemptively asks the customer to approve the substituted item. Whether the substitute is approved or rejected, the information is fed back into the AI’s algorithms to improve the accuracy of future recommendations. Following the technology’s deployment at Walmart, customer acceptance of substitutions increased to over 95 percent. ... "
No comments:
Post a Comment