Member-only story

Data Science Strategy in Retail

Kamala Kanta MISHRA (Kamal)
Towards Data Science
5 min readNov 4, 2019

Strategic Role of Data Science and AI in Retail

Photo by Artificial Photography on Unsplash

The role of data science and artificial intelligence is increasing it’s footprint in a way that transforms business functions today. Retail and CPG (Consumer packaged goods) are probably one of most involved industry in addition to other industries such as BFSI (Banking, Financial Services and Insurance) and others in embracing these technological changes early in the game. Most of the industry analysts highlight that, more than three-fourth of organizations plan to deploy Data Science and AI by 2021 in retail. From retailers standpoint, the focus is clearly on a) improving customer experience through personalization and so called hyper personalization, b) increasing efficiency and optimization to reduce costs and c) as much automation as possible to experience the value add. Of course, these are driven by the “mindset”, “attitude” and “ability” to go through detailing in order to accomplish the strategic direction.

Key focus elements

What are some key challenges today? If we start looking at retailers and jot down their problem statements or business priority, there could be plenty in different capacities where Data Science could play a role to drive success. For…

--

--

Towards Data Science
Towards Data Science

Published in Towards Data Science

Your home for data science and AI. The world’s leading publication for data science, data analytics, data engineering, machine learning, and artificial intelligence professionals.

Kamala Kanta MISHRA (Kamal)
Kamala Kanta MISHRA (Kamal)

Written by Kamala Kanta MISHRA (Kamal)

Master Data Scientist, Entrepreneur, AI/ML Practitioner & Mentor. Evangelise Data & AI to solve business use cases for clients, help in AI adoption & decisions.

No responses yet