In what manner might we enhance our industriousness, lessen gold and hours, and heighten the contentment of customers, asked a Shakespeare-esque e-tailer.
As you like it, said the AI.
Revenue raises of up to 10%, margin increases of as much as 5% and marketing productivity gains of 30 - 40% are feasible if retailers infuse AI across operations, reveal independent studies from Bain & Co and Coresight Research. Managing large amounts of eCommerce data, delivering organized and enriched product information, serving customers at just the right time and enhancing their experiences via personalized journeys are but only a microcosm of the myriad operations they juggle with while goalposting towards outstanding customer experiences and business outcomes. While, on the one hand, the convergence of rapidly increasing efficiencies in compute and networking powers, hardware, cloud storage and internet connectivity sets the stage for businesses to reap rich dividends from the availability of information, advances in AI have accelerated a decisive shift towards a data-centric paradigm. Google’s Vertex AI, Microsoft’s Azure and Fabric, IBM’s WatsonX and Amazon’s AWS, among others, are some of the leading platforms operating in this space, boosting productivity and profits at large-sized retailers.
Since 2016, Vue.ai has been powering AI across many large retailers such as Levi’s, Nike, Diesel and Hanes Brands, implementing industry-leading features like the Virtual Try-On – with 4K cameras way back in 2019, a full four years ahead of Google. Now, Vue 2.0, the AI powerhouse platform for retailers lets users build the AI they have always wanted. Here’s an overview of the distinctive features of the Vue.ai platform for retailers.
Content Manager
This module helps retailers create and organize catalogs sourced from various data origins. Uses Computer Vision to enrich product details by extracting data from images, videos, and text; neatly arranges and labels products; visualizes how everything fits together and creates custom categories. It's almost just like tidying up the catalog shelves for easy browsing. Only, it’s the AI models that will be doing all of the above: creating, organizing, enriching, extracting, arranging and labeling product details. The best part of all this is this: Vue.ai shows retailers how to create these AI models so that they can have 100% control over automating all content.
And yes, it’s flexible enough to fit seamlessly into retailers’ incumbent systems.
But commerce is at least as much about customers as it is about products, isn't it? Vue.ai is cognizant of the other side of the algorithmic coin and accords due commitment. Through the prism of the Vue 2.0 platform, retailers rarefy business data and transmit valuable signals to (i) Audience Manager and (ii) Digital Experience Manager.
Audience Manager
Here, visitor data is organized into audience segments and user profiles, based on behavior, with options for custom or pre-set segments. Multiple audiences can be tested for different user experiences, and performance metrics monitored for each segment. Additionally, overlaps between audience presets and segments are routinely checked. Audience lists can be imported / exported to power downstream applications.
Digital Experience Manager
Maps end users’ individual preferences and behaviors that were earlier intercepted in the Audience Manager to tailor personalized recommendations. The recommendations are aligned with business goals to optimize conversions, enhance user engagement and drive revenue growth. Retailers also get to experiment with A/B testing to refine strategies and improve the overall user experience.
Connectors
Through ‘Connectors,’ Vue 2.0 enables retailers to read and write data across 200+ locations, centralizing data management. Both the source and destination of the data can be configured. Gathering sales data from the online store and sending it to the analytics platform, for example, is a pretty straightforward application of this capability. Connectors ensure that data is sent smoothly on a premeditated pathway, from one place to another within the enterprise’s infrastructure highway. How the data is rendered at source and at destination is well controlled by the retailer.
Content-, Audience- and Digital Experience Management, paired with Connectors, describe the quintessential foundations of Vue 2.0, our AI platform for the retail industry.
Happy retailing!
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First, we understand the consumer retail industry. Then, we turbocharge it with AI.
How do we know what features retailers need in an AI platform? We asked them. Listening carefully to customers, prospects, participants in panel discussions, product demos and show-tell slams, we gather industry trends and translate pain points and aspirations to platform features. If you haven't already, check out our dossier AI Agenda 2024: eCommerce Priority Pulse.
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