Whitepaper: Algorithmic Commerce
Stay ahead of the competition with AI, analytics and smart data
Today, successful e-commerce is largely determined by the use of intelligent technologies as well as AI and analytics solutions. Find out how this works and what requirements have to be met in our whitepaper.
Extract from the white paper:
Shopping behaviour is shifting more and more towards e-commerce and online sales are steadily increasing. This trend was already evident before Corona, but was reinforced by shop closures and lockdowns during the pandemic.
Online shopping is here to stay
These changes in customer behavior are expected to last, and online will remain the default shopping method for many consumers – because they are digitally connected and informed, appreciate the convenience, and have now simply become accustomed to it. More and more retailers are therefore putting e-commerce at the heart of their strategies and plans. In the future, it will be a matter of combining offline and online in the best possible way and integrating the customer journey in both worlds.
AI is already part of e-commerce
A look at the strategies of successful online stores shows that artificial intelligence (AI), business intelligence (BI), and big data have long been an integral part of every one of them. Their marketing and sales are essentially driven by insights from data analyses based on consumer habits and channel specifics. Both can no longer be captured manually. Store operators are therefore now deploying AI applications and algorithms that make the usage more convenient and the shopping trip a shopping experience, that optimize the entire sales process, increase conversion, and strengthen customer loyalty. They operate algorithmic commerce.