How Artificial Intelligence improves variability across B2C enterprises.


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Uploaded on Dec 9, 2020

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PPT on How Artificial Intelligence improves variability across B2C enterprises.

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How Artificial Intelligence improves variability across B2C enterprises.

HOW ARTIIFIICIIAL IINTELLIIGENCE IIMPROVES VARIIABIILIITY ACROSS B2C ENTERPRIISES INTRODUCTION • Artificial Intelligence and solutions for machine learning allow B2C businesses to build the right plan for business development. • The speed of digital transformation through global B2C industries is driven by artificial intelligence and its subsets. Source: www.sentinelassam.com OPERATION • Disruptive innovations such as AI, machine learning, and natural language processing were promptly introduced throughout the industry well before the COVID 19 epidemic stopped company operations. • A United Nations Conference on Trade and Development (UNCTAD) report reports that in 2017, the digital economy accounted for 15 percent of global GDP. Source: www.analyticsinsight.net B2C FIRMS • Many variables derailed effective market processes with the outbreak of COVID 19. • Any of the problems faced by B2C firms is sustained tight lockdowns, volatility in consumer requests, and a disrupted supply chain. Source: www.top.studio.com CUSTOMER EXPECTATIONS • Since B2C companies are driven by customer expectations, the secret to business success is to recognise shifts in customer expectations. • From now on, businesses that have incorporated artificial intelligence, machine learning performed comparatively well from those which did not opt such adoption. Source: www.analyticsinsight.net IMPROVED PRODUCTS AND SERVICES • New products are designed based on consumer needs and expectations through the integration of AI and NLP. • This will help in raising revenues and increasing the income of the company. Source: www.trustedexpert.io CUSTOMISED CONVERSATION WITH CUSTOMER • A very typical consumer characteristic is that wherever possible, they demand answers for their questions. • Owing to variations in time ranges, it is also not practical for human customer assistants to answer such questions. • AI-chatbots and conversational AI are now reducing the pressure on B2C businesses to provide their clients with 24*7 assistance. Source: becominghuman.ai UNDERSTANDING THE CONTEXT BEHIND CUSTOMER BEHAVIOUR • It is important to consider consumer behaviour for every organisation to succeed. • Surveys, ratings and comments are common places where the context behind the reaction of the consumer is established. • The related knowledge on consumer preference can be collected and classified to show goods and services according to customer demand by integrating text analytics. Source: www.pinterest.com MANAGING THE BACK OFFICE DATA WORK • On a routine basis, the unstructured and organised data generated is huge and explosive. • Gaining information from this data allows the enterprise to better grasp the needs of the consumer and demand optimal performance for successful business. • This organised and unstructured knowledge can now be conveniently managed and tracked by downloading AI and ML algorithms. Source: www.investopedia.com MANAGING SUPPLY AND DEMAND CHAIN • In market production and expansion, supply and demand play an integral role. • The data can be interpreted reliably by integrating predictive modelling, which aims to recognise the market for goods across various geographies and regions. • This allows companies to deliver goods on an ongoing basis without affecting business growth. Source: Wikipedia PREDICTING THE REVENUE • In the context of a spreadsheet, AI-based solutions and ML-algorithms analyse the cumulative data on various goods and categorise them according to the number of transactions and the sum of revenue. • Based on this, businesses can understand patterns, correlate sales and income, evaluate the variables underlying sales volatility, and forecast a given quarter's cash flow and revenue. Source: www.truesky.com