Book Image

AI-Powered Commerce

By : Andy Pandharikar, Frederik Bussler
Book Image

AI-Powered Commerce

By: Andy Pandharikar, Frederik Bussler

Overview of this book

Commerce.AI is a suite of artificial intelligence (AI) tools, trained on over a trillion data points, to help businesses build next-gen products and services. If you want to be the best business on the block, using AI is a must. Developers and analysts working with AI will be able to put their knowledge to work with this practical guide. You'll begin by learning the core themes of new product and service innovation, including how to identify market opportunities, come up with ideas, and predict trends. With plenty of use cases as reference, you'll learn how to apply AI for innovation, both programmatically and with Commerce.AI. You'll also find out how to analyze product and service data with tools such as GPT-J, Python pandas, Prophet, and TextBlob. As you progress, you'll explore the evolution of commerce in AI, including how top businesses today are using AI. You'll learn how Commerce.AI merges machine learning, product expertise, and big data to help businesses make more accurate decisions. Finally, you'll use the Commerce.AI suite for product ideation and analyzing market trends. By the end of this artificial intelligence book, you'll be able to strategize new product opportunities by using AI, and also have an understanding of how to use Commerce.AI for product ideation, trend analysis, and predictions.
Table of Contents (17 chapters)
Section 1:Benefits of AI-Powered Commerce
Section 2:How Top Brands Use Artificial Intelligence
Section 3:How to Use Commerce.AI for Product Ideation, Trend Analysis, and Predictions

Improving customer loyalty

Customer loyalty is important because it helps companies grow and retain customers over time. In turn, growing and retaining a customer base will help a business to succeed – and a company that fails to meet the needs of its customers will eventually suffer from a decline in loyalty.

Indeed, poor customer loyalty results in high rates of churn and decline, which can lead to significant financial losses and a company's eventual demise.

But customer loyalty isn't just about keeping customers; it's also about attracting new customers. To do this, companies must be able to offer products and services that are truly valuable for their target customers – and that means becoming an expert on what those customers want.

With voice surveys, you can obtain feedback directly from consumers, wherever they are. With increased response rates and engagement, you can better understand your customers and their needs, which will allow you...