Octai for Retailers
Bringing AI-powered solutions to transform marketing, merchandising and supply chain.
Retail’s data-driven reset
Retailers must continually and responsibly reset the business to thrive in a world that’s changing fast. From consumer behaviors and market trends to competitive dynamics and the economic outlook, today’s reality is unlikely to be tomorrow’s. Retailers are grappling with factory shutdowns, stressed supply chains, sourcing scarcity, and even extreme weather. This is the nature of modern retail. And it will be from now on.
While retailers are swimming in data that can help them make sense of this complex landscape, functional silos and a lack of strong data governance make it difficult to get enterprise-wide data insights. So retailers are missing the big picture—they need to be truly data-driven and realize their retail digital transformation.
Challenges in Retail
Rapidly Shifting Customer Behavior
As consumer tastes, income, and priorities constantly evolve it is becoming increasingly difficult for retailers to keep pace and understand changing customer behaviors.
Cost of materials, economic and political costs, coupled with changing buying patterns are making price optimization challenging for retailers.
Fickle Customer Loyalty
With the rise of e-commerce paired with in-store delivery, retailers are continually under pricing pressure, maintaining customer loyalty has never been harder
Fragile Operational Issues
Retailers face challenges across their entire operation, from fulfillment and merchandising to staffing and finance which leads to missed revenue, stock-outs, and poor customer experience.
Why Octai for Retailers?
Exceptional customer experiences with hyper-personalization
Octai gives retailers a scalable way to personalize every touch. Build hyper-accurate and actively monitored customer propensity models that allows you better understand CLTV, cross-sell, upsell, and churn for each of your customers. With prediction explanations, retailers can get individual customer insights and proactively adjust touch points or advertisements to influence their behavior.
Improve operations across every point of your value chain
Optimize efficiency across your entire operations. With Octai you can break down prediction silos and ensure everyone is using the same forecasts and predictions from logistics and supply chain, to merchandising, marketing, financial planning, and elsewhere. Octai gives you the flexibility to easily deploy any model – even those built outside of Octai - to the business applications your stakeholders use everyday.
Sense changing market and customer dynamics
In today’s environment it’s no longer effective to put a model into production and ignore the changing retail landscape. Now, retailers can get real-time insights into changing customer behaviors and supply chain risks through active model monitoring. This allows for fast changes to product and inventory mix, pricing, and promotions across channels. Now you can easily stay ahead of changing consumer buying behaviors and optimize pricing based on current conditions.
Precise and fine-grained forecasts
Building forecasts at the individual item-store level has never been easier, nor more precise. Octai makes it easy to not just build hyper-granular forecasts, but maintain them in production. With Octai’s time series, dynamic time warping helps you handle irregular series or seasonal forecasts with ease, while dynamic time warping helps you discover patterns you wouldn’t intuitively predict. Effortlessly handle all types of SKU-level demand patterns from seasonal, intermittent and irregular series to cold start/net new SKU forecasting. Point solutions can’t do this, and the reality is neither can many data science teams.
Sales & marketing applications
Real world examples of how Octai accelerates impact to your business – increasing productivity, speed, and efficiency with an analytics platform powered by no-code AI.
Do these questions sound familiar?
Octai accelerates impact to your business – increasing productivity, speed, and efficiency with an analytics platform powered by No Code AI.
Pricing and promotional strategies
Revenue, category, and merchandising
Data privacy and customer tracking
What strategy enables the brand to maximize GP and/or growth yet align with the equity and value proposition of the brand?
How can I achieve my sales targets, maximize the ROI from my trade investment, and align with the brand strategies?
What strategy, across all brands within the category, enables us to achieve our topline and bottom-line goals?
What strategy enables the team to maximize EBITDA by maximizing the GP and driving operational efficiency?
How can we understand our customers with less data?
How can we maintain a standard of personalization in a privacy-first world?
What can I do with less granular data?