E-commerce has moved into the mainstream as an expected way for retailers to sell their products, and the digital customer journey has become a major imperative for all retail companies today. Retailers spend a lot of time analyzing customer activity, behavior and opinions so they can improve the customer experience and their product offerings.
But transaction histories and surveys will only tell you so much. Understanding the actual customer sentiment around your brand and products is an increasingly important lever to improving customer experience across touchpoints. Using that sentiment to tweak services and products, enhance personalization and improve delivery services is the path to revenue for retail.
Sentiment analysis, emotion detection, visual search, personalization, and recommendations are all use cases where deep learning can add huge amounts of value. Intelligent task automation, support for demand forecasting, and better resource allocation are other areas where AI and deep learning can impact operating models for retailers. These use cases can make retailers more efficient, resilient, and better able to serve customers.