Twice a month, we bring you headlines from around the industry to keep you informed of the latest trends and conversations. Whether you are in IT, finance, sales or marketing, we are your go-to source for how the intersection of predictive analytics, machine learning and AI is transforming business planning.
In today’s connected marketplace, consumers are more reluctant than ever to pay premium prices. When a shopper can find a better deal in seconds, it can put a strain on traditional retail pricing strategies – even in stores known for convenience. With the desire the stay competitive, some retail executives have turned to dynamic pricing to spur an innovative turnaround. A practice that leverages predictive analytics and machine learning, pricing optimization determines the price shoppers are willing to pay, while helping retailers meet their profitability goals. Read this article from Convenience Store News to see if dynamic pricing would benefit your C-store.
The applications and integration of data into our daily lives grow each day. From complex applications like using advanced analytics and machine learning to form more accurate business performance, to asking Siri for a simple dining suggestion, technology’s impact on our lives is evolving. In an environment such as this, where consumer behavior is constantly shifting, brands must recognize how technology can impact marketing campaigns and alter their strategies. This AdWeek article has six suggestions for marketers to embrace this technological transformation and drive real, data-driven change within their organizations. Read it here.
According to Cisco, about 50 billion devices will be connected to the Internet of Things (IoT) by 2020, and many of those will live in manufacturing plants or supply chains. The result will be a monstrous amount of data to be analyzed and optimized to provide real value across organizations. In this AutomationWorld article, the concept of using edge analytics is proposed for more efficient and effective analytics for manufacturers. Edge analytics, which involves analyzing your organization’s connected devices via predictive analytics, is able to quickly derive usable insights from granular data. Read here to see the five immediate benefits this practice can have in your facilities.
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