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)
1
Section 1:Benefits of AI-Powered Commerce
5
Section 2:How Top Brands Use Artificial Intelligence
11
Section 3:How to Use Commerce.AI for Product Ideation, Trend Analysis, and Predictions

Analyzing product data for consumer electronics brands

Consumer electronics firms rely on product data to understand their customers and market trends. Product data is critical for understanding how your products are performing, what consumers want, and how they interact with your brand.

The data you collect can help you identify issues, measure success, and make better strategic decisions. But it can be difficult to find the right kind of product information that's actionable and helpful – especially if you're not a consumer electronics expert.

The data-driven product strategy is about using data and analytics to develop new product ideas, evaluate existing products, and improve the overall experience of customers. The goal is to create more customer engagement by changing how people interact with your brand.

The data-driven product strategy has many benefits, including the following:

  • Increasing customer loyalty and retention through targeted offers...