AI is transforming retail. This leading edge technology is making a widespread impact on the industry. AI can give organizations the competitive edge by using machine learning and statistical algorithms to create demand forecasts. Using Automation and creating new tools in Retail powered by AI, saves time and enables real time responses to fast changing consumer demand patterns. It can help retailers with trend identification, color management and optimizing promotions.
TPC has formed a strategic partnership to leverage the top AI experts and world class researchers from top Universities including Cambridge and Oxford to bring deep retail expertise and process understanding to the areas relevant to Retailers.
AI and machine learning are not simply buzz words, and are here to stay….
Leveraging different forms of data, and an array of data science techniques, is critical to deliver sustainable, robust, science-led Pricing and Promotions outcomes. That is why TPC employ leading edge techniques, and continue to invest and pioneer in this space. Put simply: we see the value this brings to our clients, and the potential for even greater steps forward.
We combine multiple scientific approaches to maximise our impact, such as….
- Predictive analysis techniques utilizing regression and demand models
- Machine learning techniques to support forecasting and optimization
- Statistical techniques such as Bayesian inference to support demand modelling
- Sophisticated seasonality and PLC techniques to drive life cycle modelling
- Uplift co-efficient generation to drive accurate promotional forecasting
- Sophisticated baselining and PE calculations
“Retailers can compare their range architecture against those of their competitors in real time and respond to it using AI solutions. Most of the solutions that exist are custom built using AI technologies and experts in those technologies to create something that is tailored specifically to your business“
— Subir Gupta TPC Co-founder and Managing Principal.