Now get this.

You call a customer support number and you hear an Interactive Voice Response (IVR) which tells you that there is a better way of self-service, would you like to choose that option? You as a customer say yes and you receive a link on your mobile phone in the form of an SMS. You open that link and your digital journey starts and you are directed to an interactive page that has a visual menu that you can easily traverse through and fields in which you can enter the required information. You can do it at your own pace and at your own time without the fear of being timed out. If you don’t get the solution you are looking for, you can connect with an agent at the tap of a button. What’s more, the agent already has the details that you filled in earlier so that you don’t have to spell them out again. You get your query solved and enjoy a nice rest of the day.

This feels great, doesn’t it? That’s visual IVR for you.

The traditional Interactive Voice Response (IVR) systems that we all have encountered at some point use touchtone pads / numeric inputs to help take the customer through the system. Each press of a key directs you to the next stage and narrows down the reasons for your call. The more recent voice IVR systems require the caller to say where they need to be directed. That brings in a whole lot of pitfalls of its own. Voice IVR systems have been improved over time by adding conversational AI that can predict intent and guide the user in the right direction. However, all of this is essentially the same, just with different modus operandi.

IVR is far from perfect and you don’t need to look too far to identify its weaknesses.

• IVR does not provide full visibility to the customers. They only know the options when they reach there. Customers often select the wrong option and go down the wrong track. They need to go through the steps again once they realize the sub-menu they are on does not cater to their need.
• Many callers opt-out of this navigation exercise and directly select the option that connects them to an agent. This leads to low containment rates and higher wait times.
• The voice-enabled IVR can lead to struggles with pronunciations and accents particularly if the customers are spread across geographies.
• IVR isn’t the best at gathering data from customers. Users cannot enter complex data. Customers using voice-enabled IVR may be hesitant to speak out their personal information in a public place. Much is left to be desired in this regard.

What is Visual IVR?

A Visual Interactive Voice Response or Visual IVR is a system that adds a visual interface to the traditional IVR setup. The visual interface leverages multiple channels like smartphones and other digital devices that provide web access. It makes navigation intuitive and data collection from customers seamless. The customer generally receives the link to visual IVR menus via SMS or the application that is already installed on the phone. The menus may either reflect the IVR structure or maybe be augmented to accept other forms of inputs like long texts, images etc.

A visual IVR system helps to gather real-time data. Company websites and mobile applications can help customers navigate menus quickly. They can type in their responses and use radio buttons, checkboxes and drop-down menus which are more reliable and reduce the chances of mistakes from the customer’s end. When the agent reaches out, the agent has all the essential information at his/her disposal and can continue from where the customer left off. The customer does not have to bounce around before reaching the right option and this enables a better customer experience.

Benefits of Visual IVR

Visual IVR provides some distinct advantages over traditional IVR systems.

• Personalization of customer interactions: As visual IVR makes it easy to collect customer information from various touchpoints, agents can spend their time with customers having meaningful conversations and providing more value to the customers.
• Elimination of wait times: Implementation of a visual IVR system can help save up to 60 seconds of AHT for an agent. This time that was wasted in collecting user information can be utilized to understand their problems and provide quick resolutions. The customer does not have to wait online. Faster resolutions lead to more satisfied customers.
• Omnichannel presence: While IVR is only usable on phones, visual IVR allows for multichannel contact. Millennials and Gen-Z increasingly use smartphones, mobile apps, and social media. Visual IVR makes it possible for contact centres to reach them via their preferred mode of communication.
• Improved security: Visual IVR providers make sure that all the data security and privacy protocols are in place so that customers can enter their personal information without the risk of it being misused. Landing pages may be encrypted to add to the security.
• High containment rates: 60%-70% of users using visual IVR find a solution to their problem and do not require a call from an agent. This is a big leap when compared to the 15%-20% containment rate of traditional IVR systems. This ease of use and self-fulfillment has demonstrated an increase in customer satisfaction and NPS scores.

Visual IVR systems are primarily designed to make the contact centre spaces more efficient while making it convenient for the customer to reach out. The time of human agents is better managed as redundant tasks are taken out from the calling routine and they focus more on solving customer problems rather than performing perfunctory tasks. The customers feel cared for and this leads to an overall positive experience for them

IGT has an immense wealth of experience and demonstrated capability in enhancing contact center experience and achieving operational excellence. The solution provided by leveraging its digital conversation framework, “iConverse” and voice automation framework “iVolume” have benefitted numerous clients across the airline, hospitality, and retail domains. IGT has provided more than 25% cost optimization and 15% improvement in net NPS and CSAT scores through its offerings. IGT’s 20+ years of travel domain-led solution development experience enabling it to deliver end-to-end solutions, a worldwide operation presence, and its commitment to provide best-in-class solutions has helped deliver innovative solutions and business excellence continuously.

Author:

Pratik Sharma is a Sr. Business Consultant in the automation practice at IGT Solutions. He has 4 years of experience in RPA in multiple capacities. Outside of work, Pratik is passionate about football and reading.

The post How can visual IVR transform the customer experience in a Contact Centre space appeared first on IGT Solutions.

Before Robotic Process Automation (RPA)
Depending on the procedures, protocols, and infrastructures of each institution, steps to process debit or credit card fraud significantly varied. Still, certain steps used to be followed, namely, collection of disputed transaction data from the web-based core banking system; gathering and investigating of information associated with the claim; and processing of the debit/credit card fraud disputes via CMS – card management system.

Without the help of technology or automated solutions, every single step would be conducted manually, from data gathering and data processing to decision making. For some banking institutions, transactions could be handled by batch, while for others, they needed to be resolved separately. This traditional method was not only time-consuming, discouraging, repetitive and overwhelming for workers but was also prone to more errors. Given the fact that there were thousands of card fraud claims per day, it was a challenging task for financial institutions to ensure accuracy and speed through conventional techniques, most of which were based on human intervention.

After Robotic Process Automation

Data Gathering: Collecting information on disputed transactions is the first and foremost step bank employees have to follow. Robotic Process Automation (RPA) solutions can help navigate and log into the web-based system of the bank, select a date range, and export the transaction data. To gather additional information from numerous internal databases or public domains to give a holistic view of customer data for fraud analysts robots can be utilized.

Data Processing: After relevant data is captured, Robotic Process Automation (RPA) can assist bank employees in removing duplicates, and formatting and refining data to make it fit for use. When this automation solution is combined with Artificial Intelligence (AI) technologies such as Intelligent Document Processing (IDP), Text Analytics, and Machine Learning (ML); the robot can track activities, collate payments, determine anomalies, and identify fraud patterns. Apart from freeing up humans from repetitive and monotonous tasks, RPA also ensures higher accuracy and enhanced productivity, as it can self-learn from previous cases, thereby reducing time spent on subsequent disputes at most.

Decision Making: RPA has revolutionized the back-end operations of banking organizations, and debit/credit card fraud processing is not an exception. The automation solution has been able to significantly reduce costs while easing financial employee workloads, as well as increasing the quality of fraud processing and minimizing the number of human error-related issues. While the issues faced by financial institutions in detecting and processing fraudulent card transactions may continue in the future, Robotic Process Automation, more or less, can empower efficiency in resolving these challenges.

About IGT in RPA
IGT Solutions has an extensive experience in back/front office automation leveraging Robotic Process Automation (RPA) as the means to automate business processes which are high volume, repetitive, prone to human error and come with stringent regulatory compliances. The tasks can include queries, calculations, reports and maintenance of records and transactions.
IGT has a team of RPA specialists who have successfully automated processes for some of the major players across industries.

Author:

Himanshu Gandhi is a Project Manager at IGT Solution’s Robotic Process Automation (RPA). He has 14 years of diverse work experience as a Senior Consultant and Project Manager for Digital Transformation across Airlines, Food and Beverage, and Banking industry. He can be reached at Himanshu.gandhi@igtsolutions.azurewebsites.net.

The post Automation in card fraud detection for the e-Commerce Industry appeared first on IGT Solutions.

The key digital commerce adoption drivers have been:

• Business innovation
• Revenue growth
• Cost optimization
• Customer engagement

All the retailers, legacy brick and mortar and digital commerce included, now understand the need for software applications and their importance on various segments of retail; from customer acquisition, making sales transactions and providing post-delivery engagement to retaining the customer for longer periods of time.

Retail is one of the few domains that has seen tremendous growth in the last 5 years, the COVID-19 pandemic brought a demand for digital transformation in the brick and mortar retail sector, businesses were expected to bring about a change at breakneck speed as per the needs of the competitive market.

The retail IT system is highly dynamic and involves critical applications that take care of various functions at the front-end like social media, POS, website, mobile and back-end like inventory, product management, service and delivery cycles. The ever-evolving customer demands require retail organizations to continuously deliver and deploy new services and features.

In order to do that, software testing became imperative to ensure nothing that is broken goes to production. To cover a large area in the shortest possible time, just software testing would not suffice, this is where automation testing comes in. With automation testing, retail companies can harness the merits of digital transformation while managing the risks.

Benefits of Automation Testing in the Retail Industry

Quick feedback on build: Automation testing when utilized to create a regression suite and executed on the test environment will provide quick feedback on the code, thereby helping in making an informed decision on the deployment of the production code.

Enhance the coverage of omnichannel applications: The omnichannel availability of the application though is good from a customer engagement perspective, is difficult to test in a limited time owing to the sheer volume of platforms, screen sizes, and OS combinations. Automation testing with emulator combinations provides the solution to mitigate quality risk in the least possible time to validate application behavior on different platforms.

Heterogeneous environment: Retail platforms consist of an amalgamation of various systems and sub-systems such as UI, Payment Gateways, 3rd party APIs, Data-Warehouse, Reporting Tools, Middleware, etc. Testing of all these systems is difficult but mandatory to ensure there is no break in the entire process. This testing is done in an automated way, and yields requisite coverage within the short timeline, and provides a view of end-to-end use cases.

Smart Automation Testing: AI/ML enabled automation testing has further improved the quality, efficiency, and speed of risk mitigation and achieving business goals. Self-healing frameworks have the capability to optimize the test scripts in case of changes in GUI web elements on the screen, thereby reducing the efforts needed for script maintenance.

Non-Functional Automation Testing: In addition to functional testing, non-functional testing is very much needed for retail platforms and applications to cover performance, security, and accessibility scenarios, as impact in this area directly leads to degrading usability and customer experience causing customer turnover. Automation testing can be implemented for non-functional testing to get shift-left of non-functional testing and finding & fixing issues earlier in the lifecycle.

Why IGT?

IGT with its Automation Centre of Excellence (CoE) is well placed to provide value-added services in automating the testing services for retail domains. The pre-built accelerators for the retail domain with 2000+ use cases covering customer management, customer journey mapping, product selection, cart management, payment etc. cover the entire gamut of retail operation testing.

Our advisory services on automation testing on the retail domain, automation test strategy and choice of automation frameworks spread across open source domain as well as licensed tool segments empower you not only to completely harness benefits of automation testing but also achieve better ROI from overall Quality Engineering efforts in retail organizations.

Author:

Yatender has 20+ years of experience in software test engineering. As the head of Testing Practice at IGT Solutions, Yatender is actively involved in innovations related to test engineering covering new tools, technologies, and solutions, and enabling IGT’s clients to achieve faster time to market quality improvement, and optimization of developer efforts in overall SDLC. A result-oriented leader, proficient in delivering high customer value and achieving excellence in service delivery management with proven skills in consulting and managing large and complex test programs. When away from work, he enjoys reading on a variety of topics and spending time with kids.

Sources: Gartner

The post Importance of Automation Testing in Retail Digital Transformation appeared first on IGT Solutions.

Consumers’ expectations are at an all-time high, and the upsurge in demand is currently driving the buying frenzy. Today’s tech-savvy consumers would prefer ordering over e-commerce stores to doing retail shopping. After a relatively lower sales period in 2020 due to the pandemic and stress, consumers and funds are now back to the pre-Covid era.

Going Digital in our Daily Lives

From small businesses to large, every business needs to undergo digital transformation to gain a competitive edge and to sustain itself in the long run. Digitalization aids in integrating technology in all aspects of business that helps improve productivity and deliver business value to customers.

According to Statista, the global spending on digital transformation is estimated to be 2.4 trillion USD. Simply put, every time you replace a physical process with a digital strategy, you engage in a digital transformation. When you decide not to cross a cheque for your mortgage payment and instead do an Electronic Fund Transfer (EFT), you become part of digital transformation or Digital Commerce with one simple click!

Factors Driving Digital Transformation

Digital transformation is now an essential ingredient to stay in business. B2B and B2C companies now compete against each other in the online world. The whole competition is now taken over using MarTech firms that deliver outcome-based results while keeping consumer behavior and data insights in mind.

With most social media channels enabling e-commerce marketing strategies today, you can not only post online ads for your business but can also directly interact with customers and prospective clients.

Here’s why you need to embrace digital transformation to evolve into an “e-business” or e-commerce store if you haven’t:

Rising Customer Expectations

The rise in adoption rates of new and next-gen technologies like cloud computing, machine learning, AI-based algorithms, Robotics, and IoT (Internet of Things) devices have increased customer expectations.

The role of virtual reality (VR) and augmented reality (AR) is still underutilized by businesses today. Its diversified capabilities serve as an excellent opportunity to enhance customer experience by bringing the “store to the customer”.

A survey by iXtenso magazine found that virtual reality was important for 22% of its respondents during brand shopping as customers are now empowered with value-added unique shopping experiences. For example: expecting virtual experience while trying fashion apparel and accessories.

Strong Online presence for Brands

Brands need to have an online presence as it helps attract more customers and generates user engagements. Furthermore, the brand is capable of creating customer awareness and strengthening its credibility.

According to Salesforce.com, about 87% of shoppers seek product information and helpful reviews online — even if their final purchase plan is through a retail store. Consumers expect to find a brand’s updated information, including contact information, seamlessly while approaching them.

It furthermore found that e-commerce sites get 75% new search queries monthly and that 69% of customers expect new products irrespective of shopping online or at a retail store. This strongly emphasizes the need for brands to “keep it fresh” and ensure a seamless shopping experience for users while enhancing customer relations.

Rise of DTC (Direct to Consumer) selling

The direct-to-consumer selling strategy has exploded during the Covid times and changed the view of doing business. Today, enterprises can talk to their customers directly rather than through a third-party channel or platform.

In another survey by iXtenso magazine, more than 55% of shoppers want to buy directly from brand manufacturers.

OEMs that have progressed towards omnichannel marketing to deliver a seamless experience across devices make more sales. Companies who go with DTC control their customers’ experiences from start to finish, giving them the tremendous power to improve consumer satisfaction. Customer feedback, rating, and advocacy define your market dynamics on the ground since many first-time consumers watch for the feedback before adding to their shopping cart on your online store.

Digital Commerce Sales Accelerators

Technology advancement and inventions are fueling digital commerce the most. Certain innovations clubbed with customer behavior, and experience has ensured considerable jumps in sales figures for brands that went ahead with these accelerators.

For example:

• Today, big data has a significant role in enhancing personalization, storing massive sets of native data in a data lake for creating insights to predict consumer apprehensions. Large ecommerce brands like Amazon have used big data to provide consumers with highly personalized shopping experiences. Selling Alexa and other IoT/AI devices at a lower price opened up a stream of personified data collection for Amazon.
• Headless and API-driven ecommerce solutions are allowing continued innovation at a much faster pace one could imagine. You order at dinner and get the item delivered before lunch the next day; how quick and seamless the integration has become.

Tools and Platforms for Digital Transformation in Ecommerce

There has been an upsurge in companies offering tools and platforms to support and drive digital commerce. Few of these are categorized as FinTech startups with a SaaS whose product offerings are imbibed with seamless integration of various payment methods for a consumer.

Smartphones are a great tool to help users buy anything now. From AR-supported software that emerged as game-changers to enable seamless buying of furniture and clothing online or to order your favorite Cappuccino from Starbucks, digital transformation has made lives easier.

Recent data gathered by Statista predicts that in 2021, nearly 73% of ecommerce transactions will take place on mobile devices. Consumers mostly have a choice that if you don’t offer a fluid experience, they’ll simply shop elsewhere.

Conclusion

Digital transformation is a continuous process where you won’t be saying, “Alright, we can’t go beyond this.” It is an ongoing journey, and you will need to build many partners both on the supplier and consumer sides.

Digital commerce is where brands have bet enormous and reaped huge benefits from an online presence in terms of consumer sentiments, market share, and driving profitability while keeping the operational costs to the minimum. Ecommerce has been a clear winner way before the pandemic began. Economists predict retail ecommerce sales to reach 476.5 billion dollars by 2024, up from 279.7 billion dollars in 2017 for the US market alone.

There is still a plethora of opportunities available in the digital scope. Businesses’ capabilities are accelerated, and it is anticipated that they shall reap significant rewards by attracting investors, thereby changing the face of digital commerce in the coming years. 

Sources:
Ixtenso, RetailDive, Statista

Author :

Gaurav is the Practice head for Enterprise Solutions at IGT and also the SME of Retail, CPG and Ecommerce verticals.

The post Digital Transformation for Future of Ecommerce appeared first on IGT Solutions.

A few common examples of how ecommerce businesses leverage automation.

• Fraud filters
• Suspicious login alerts
• Email newsletters based on customer groups
• Similar item suggestions
• Order status updates

And much more.

Imagine if you had to do all this manually or divide it amongst your team members, it would require constant monitoring and collection of information, parameters check, followed by taking action on these by following a certain process (e.g. sending an email, flagging orders, adding customers to specific segments), etc. Automation provides a means for the software to handle all this and proceed accordingly, without the need to intervene. The above can also be termed as workflow automation; automating tasks that keep the flow of work systematic.

Workflow automation aids any ecommerce business to run smoothly. If implemented properly, it can reduce redundancy, improve communications and customer experience and allows organizations to review how well the business is operating. While we’ve looked at a few examples where automation is generally applied, here are some key ecommerce business areas that cannot function without automation.

• Inventory and order management
• Accounting
• Cart abandonment
• Rating and review reminder
• Follow-ups

Automation and inventory management

There are hundreds of products in the inventory of an ecommerce business, and keeping track of each of them is simply a waste of time. Automation here lends a helping hand by keeping track of whether the products are in stock or out of stock. The scalability of your business also depends on the automation systems that have been implemented. With automation, businesses can get more visibility into their inventory which helps in checking backorders and missed sales opportunities. Not just this, from order placement to shipping labels and dispatch to post-sales, all of these processes can be automated and viewed in real-time.

Accounting with automation

An ecommerce business deals with several transactions in a day. Handling the receipts, invoices and other relevant documents manually will take an eternity. When these tasks are automated, you are not only increasing the productivity of your business but also saving time. Having an automation system that seamlessly integrates with your payment systems and automatically pulls in data on revenues and expenses while providing a detailed report is a basic feature ecommerce businesses need today. This can take care of expenses, purchases, refunds, returns, coupon code applications etc. effortlessly and eliminate delays and inaccuracies in the transactions.

Address cart abandonment with automation

According to Statista, the shopping cart abandonment rate in 2020 was 88.05%. Many people who add products to their cart, don’t necessarily purchase them, however, waiting too long to address the abandonment can affect your cart recovery and there is a chance your customer might lose interest. There are plenty of ways to recover the abandoned carts. By giving your automation tool the necessary commands, you can filter the users who did not complete their purchase and link it with an email reminder that shoots out an email to the user with a single click. Sending these automated emails keeps the products fresh in the customer’s mind making it easy to jump back into the buying process and pick up where they left off.

Review reminders with automation

According to research by Spiegel, about 95% of customers read reviews before making a purchase. This clearly indicates that if your customers ignore the ratings and review pop-up, does not mean that you should give up on it. Email still remains a flexible and universal messaging medium. It allows us to send longer, targeted messages to customers irrespective of where they are in the buying lifecycle. One way to remind customers to leave a rating or review is by sending them an email reminding them to express their thoughts about the product they just purchased. Automated emails can drive conversions that would have otherwise been left behind.

Automate follow-ups

As per a study by Bain, revenues for businesses that prioritize customer service rise 4-8% above their market. A satisfied customer will purchase more and even serve as a promoter who recommends to their friends, making them extremely valuable. Targeting customers who bought something and suggesting something suitable can be a difficult process only if it is done manually. Automation can simplify this to a large extent and keep the conversation going with the customers. By offering them new products and giving discounts, you cannot just bring back existing customers and increase your chance at further sales, but build sustainable paths that lead people back to your online store again and again.

Productive businesses rule the market and automation can help unlock the full value of your ecommerce business. The customer of today expects a smooth, streamlined experience that is augmented by intuitive and easy-to-use technology. Automation workflow makes operations less intricate and more well-organized. As automation simplifies task management and diminishes human errors, your team can focus on detecting customer pain points and analyzing the big picture. IGT’s Automation Centre of Excellence plays a vital role in providing a range of automation services that suit every business’ requirements. With strong expertise in the design and delivery of tailor-made solutions, we aim to cater to the demands of today’s customer.

Author

Gurmeet Oberoi is a researcher and writer of change tactics and technologies in travel and other verticals, she frequently posts across the digital ecosystem. With 9-yrs of experience in communications and marketing, Gurmeet has a passion for travel and reading among other things. She can be reached at gurmeet.oberoi@igtsolutions.azurewebsites.net

The post Give your customers the white glove treatment with ecommerce automation appeared first on IGT Solutions.

The real game-changer in ecommerce came with the recent rise in artificial intelligence (AI). AI has progressed to a point where it has become an essential part of this industry. AI technologies have the ability to demonstrate intelligence that involves emotions and consciousness. With the combination of machine learning (ML), businesses can use algorithms to find patterns in large amounts of data and improve the recommendation system on their website and thus, strengthen the customer experience.

Hyper-personalization with predictive AI based analytics

According to a study by Adobe, although 83% of marketers said that they were familiar with machine-learning solutions, the application remains low, with only 14% of respondents saying they were using them.

In general terms, personalization is another name for recommendations, however, there are a lot of possibilities in personalization. For example, an ecommerce website showing simply the customer’s name after login is one form of personalization. Another example is showing separate landing pages for men and women. While personalization might include a customer’s name in emails or online ads, hyper-personalization involves more parameters like browsing and purchase history and other real-time behavioural data which is more complex as it goes beyond basic customer data. For example, hyper-personalization would include ads showing trekking gear based on the exact location where it was last purchased including payment method, applied coupons, social media activity and more. AI based predictive analytics play a huge role in a customer’s interactive buying process, it also is the driving force behind relevant and lead-generating campaigns.

Let’s take a look at some other important uses of artificial intelligence (AI), and machine learning (ML) in ecommerce and their role in improving growth and personalization:

Drive product recommendations

The use of recommendation engines has become a significant part of ecommerce businesses; the best examples of a recommendation would be ‘customers also bought’ on Amazon or ‘people you may know’ on Facebook. This is possible with the help of a recommendation engine or system. A recommendation system is a tool used by companies to foresee a customer’s choice of product amongst a long list of suggested items. AI can deliver suitable suggestions based on a customer’s preference. AI, along with ML uses vast amounts of data to offer products they would be interested in, and data here encompasses a lot of things: images, clicks, numbers, words etc. Once all this data is stored digitally, it can be fed into a machine learning algorithm to generate suitable recommendations to the customer.

AI based chatbots for customer service

In an age of conversational commerce, any successful ecommerce business will most likely have AI based chatbots and voicebots on their online platform for driving sales and customer service. AI based chatbots and voicebots, which are powered by natural language processing (NLP), help in assisting customers at different stages of the sales and marketing funnel. To ensure a seamless customer experience, the integration of these assistants is essential for engaging customers. As per a report by Gartner, by 2021, more than 50% of enterprises will spend more per annum on bots and chatbot creation than traditional mobile app development. AI is capable of reducing the workload of customer service agents, as chatbots and voicebots can answer a majority of standard questions and increase the response time. They additionally aid in following a customer-focused approach. With accurate data and insights at their disposal, ecommerce businesses can understand the trends in sales and tackle issues such as abandoned shopping carts, collect first-party data, and notify about promotions and deals which help in humanizing the brand. From making initial contact to answering simple script based FAQs, these AI based agents add to the company’s credibility.

AI visual search and image recognition

A picture is worth a thousand words; an ecommerce product picture is perhaps worth millions to any ecommerce company. Many a time customers see a new product, however, when it comes to describing it they get stuck. Ecommerce websites have improved their interface with accurate text-based search, but many customers might not be aware of the vocabulary that adequately describes a product; we as humans are visual beings after all. It is for this reason that voice and image based search has picked up and will transform the customer experience of a company radically. According to a report by Gartner, ecommerce businesses that implement visual and voice search will increase their digital commerce revenue by 30%. With AI based visual search, customers can simply take a snapshot of the product and search online. The AI powered ecommerce platform can quickly identify the product and line up a list of similar products, turning the virtual world into a shopping catalogue. Visual search is capturing the customer’s attention slowly, as AI based visual search gains maturity, companies have started putting together a gallery of images to be at the forefront of the search engine results. Many ecommerce websites are using a customer’s product preference and with the help of AI, they are able to show a product the way a customer wants, with ease.

Catalog classification using AI and ML

Customer experience is the ultimate factor that separates successful companies. Having a simple ecommerce website will just not suffice. To ensure superior customer experience, ecommerce companies must provide an exceptional shopping experience. To accomplish this, the creation of optimized catalogs that cater to the exact needs of the customer is imperative. Buyers today research online, browse offline and purchase on a website that offers a seamless shopping journey. AI and ML advancements in retail cataloging help in the classification of catalogs based on-demand analysis, local preferences, buying habits and new trends. AI based product catalog management takes care of automating workflows such as product listing, product identifications, and price competition checks. By looking at historical sales, promotions, weather patterns and season, AI can help businesses create an optimized catalog by predicting future demand. The goal is to unify in-store and online.

The buzzword is AI. Soon, personalized online experiences powered by AI will become a basic expectation. Hyper-personalization is here and will remain. IGT has been helping top companies to drive success to their business by delivering a super personalized customer experience.

We have been creating opportunities by leveraging AI/ML to generate models to solve complex business problems with the right mix of robotics and humans. By augmenting decision-making based on vast and complex datasets, millions of variables/unstructured data and enormous distributed computational capacity, AI/ML plays a key role in providing new business outcomes. These technologies have disrupted the traditional way of marketing, customer insights and engagement.

Source:

• https://www.gartner.com/smarterwithgartner/gartner-top-strategic-predictions-for-2018-and-beyond/
• https://blog.adobe.com/en/2018/07/19/5-trends-transforming-ecommerce-personalization.html#gs.qlu224

Author:

Gurmeet Oberoi is a researcher and writer of change tactics and technologies in travel and other verticals, she frequently posts across the digital ecosystem. With 9-yrs of experience in communications and marketing, Gurmeet has a passion for travel and reading among other things. She can be reached at gurmeet.oberoi@igtsolutions.azurewebsites.net

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