Artificial Intelligence (AI) and allied Machine Learning (ML) techniques are reinventing the retail IT landscape. It is commonplace to hear websites crashing or being sluggish on the biggest days for retail like the Black Fridays or Cyber Mondays. In response, major retailers have already started harnessing the power of AI to bring operational efficiencies across their stores and to establish deeper connects with their customers. Digital business (beyond just e-Commerce) accounts for nearly two-thirds of the total revenues. About 35% end-user tech support and 46% existing or legacy IT systems activities are overseen by the CIOs currently (Source: TCS 2020 CIO Retail Report).
For retail business operations, data centers and workspaces, AI-driven solutions offer the stability, agility, availability and improved productivity that translates into a delightful experience for shoppers, retail supply chain and in-store employees. Here in this blog, we explore the four different aspects of retail IT operations positively impacted by an AI/ML-driven solution. We have listed down the direct and indirect business benefits they deliver as well.
#1 Uninterrupted Omni-channel Operations
Products that build an enterprise IT blueprint help deliver an uninterrupted omni-channel shopping experience while providing end-to-end real-time visibility across stores. Make the most of Black Fridays and Cyber Mondays or new product launch events!
- Proactive In-store Application Health Checks
- Hassle-free checkouts
- e-Commerce Latency/Performance Checks
- Prevent bot attack
- Reduces outages and major incidents during peak season
- Improves customer in-store experience
- Reduces business loss due to slow e-Commerce
- Offers secured and reliable shopping experience
#2 Seamless and Reliable Data Sync across Systems
ML algorithms specifically designed for retail IT operations reduce discrepancies and data synchronization errors to deliver accurate and reliable data in the hands of the store associates as well as the customers speeding up customer transactions and back-office reports generation.
- Eliminate pricing and promotions data mismatch
- Fix Point-of-Sale (POS) data sync issues with central systems
- Fix delays in order/transaction batch processing
- Eliminate delays in reports generation
- Reduces pricing and promotions-related incidents
- Improves efficiency of store operations
- Reduces gaps in audits and reporting
#3 Optimized Supplier and Distribution Center Operations
AI powered IT Operations products help remove the inconvenience and unpredictability during the ordering process, thus improving order fulfillment, better labor utilization and cutting procurement costs. By the end of 2020, half of all large manufacturers will have automated supplier and spend data analysis, resulting in a 15% procurement productivity gain (Source: IDC FutureScape: Worldwide Supply Chain 2020 Predictions).
- Ensure on-time inventory data availability
- Ensure supplier and logistics data accuracy
- Find and fix stock fulfillment issues
- Simplify user on-boarding/off-boarding
- Predict Service-level agreement (SLA) breach
- Provides an accurate view of inventory
- Reduces duplicate/inaccurate ordering
- Reduces idle time for labor
- Optimizes work order planning
- Minimizes delays in Purchase Order (PO), Sales Order (SO) fulfillment
#4 Autonomous Resolution of IT Infrastructure Anomalies
AI/ML products proactively prescribe actions to take away the burden of repetitive workflows for incidents ensuring maximum uptime for business, even during the peak season. These products eliminate noise, predict emergent conditions and triage issues by managing alerts.
- Proactive network health checks
- Optimize Memory, Central Processing Unit (CPU), Disk utilization
- Linux patching
- Intelligent alerts management
- Autonomous handling of command center operations
- Reduces in false, duplicate & correlated alerts
- Provides healthier business-critical applications
- Offers reduction in Mean time to Repair (MTTR)
- Reduces Total Cost of Ownership (TCO)
Be it a boutique store round the corner or a multinational chain of superstores, retailers are determined to delight their customers with convenient, tailored, and pleasant shopping experiences. Customers expect to find products faster and check them out at lightning speed. AI/ML powered solutions enables you to deliver a consistent and reliable IT in all areas of the retail business. Digitate’s Cognitive Automation Software enables enhanced customer experience through Self-healing and Machine-managed IT Operations. Keep your shoppers satisfied with ignio’s cognitive automation for retail.