Online sales are growing faster than in-store sales. More people prefer to shop online rather than in stores nowadays.
“eCommerce sales are expected to reach $4 trillion by 2020”
Merchandizers without an online presence are destined to fail and will fizzle out eventually. The digital, Omni-channel commerce is a stepping stone to succeed in today’s competitive environment.
IBM Watson Commerce Insights
IBM Watson Commerce Insights (WCI), with embedded cognitive capabilities, is a cloud-based solution. It gives actionable insights through an understanding of customer and market data that are key to the growth of digital commerce business.
“The Era of Cognitive Business has begun.”
Watson Commerce Insights delivers customer and business insight in the context of your products and categories so you can take action that drive results faster.
The self-adaptive nature of IBM Watson enables the technology not only to predict outcomes, but also to learn from patterns identified. The technology can be applied, for instance, to define and execute how and when items should be moved into clearance, to suggest promotions or to identify when inventory needs to be re-balanced.
Online merchandisers and marketers can take direct action and immediately see how those actions affect the customer experience. IBM Watson Commerce insights provides recommended merchandising actions and enables practitioners to take immediate action from any insight taken.
Commerce data talk to you like a trusted advisor – Go from insight to action to results, making informed decisions.
It is compatible with commerce, order management, and digital analytics platforms, giving broader visibility to business performance.
Online merchandisers can quickly and easily drill down into the details of categories and campaigns to view metrics like orders, sales to view product level details including inventory positions and performance and to take direct and immediate merchandising action from any insight gleaned. Within context store preview capabilities, online merchandisers can immediately see the impact of their actions on the customer experience.
With so much available information, it’s difficult to collect, analyze and apply in a way that supports informed decision-making. Commerce Insights uses the power of Watson to understand all the data and learn from it to improve your business.
The embedded cognitive capabilities of IBM Watson Commerce Insights provides
- Notifications to merchandisers
- Indication of abnormal/unusual business conditions (revenue, margin) that need attention
- Supporting evidence
- Recommended actions.
The artificial intelligence ability of WCI to absorb and understand colossal amounts of data immediately is priceless.
IBM Watson Commerce Insights provides a personalized view so you can quickly drill down into the performance of your products and categories. It’s like a ’cognitive analyst’ watching out for your key business indicators to uncover trends and contributing factors not obvious through standard reporting.