Retailers are leading the charge when it comes to innovation with AI and machine learning. In fact, a recent 451 Research report, “Retailers stock up on the benefits of machine learning,” discusses many ways that retailers are applying machine learning to business use case today.
The report states that retailers are currently using AI and machine learning for the following use cases:
Notably, Yellowbrick customer Symphony RetailAI, which 451 cites as a key vendor in the AI space, is using the Yellowbrick Data Warehouse to accelerate response times and reduce the number of platforms they have to maintain.
451 Research notes that “Widespread use of machine learning in retail is in its early stages, although in pockets the sector has been using the technology for many years. The market will likely go through several changes as the technology matures” No matter how the retail industry’s use of machine learning evolves, one thing is certain: the importance of fast, cost-effective analytics will be key.
You can get a copy of the full 451 research report here.