Artificial Intelligence-based sales forecasting for the retail industry
At 3Soft, we design and run dedicated AI platforms for the retail industry that allow collecting, processing and analysis of large data sets. By combining the services of Artificial Intelligence, Data Management and Business Automation, we extract business value from data.
WHAT DO WE OFFER?
Solutions
Sales Forecasting
Daily sales forecasts (at a store/item level) based on sales receipts, supported by external attributes, such as marketing actions, weather, seasonality of products, holiday periods and special events, applied when required.
Sales forecasts for seasonal stores and freshly launched products with no sales history.
Demand Forecasting
Using sophisticated AI algorithms to detect upcoming trends and generate demand forecasts (at a warehouse/product group level).
Allocation & Automatic Replenishment
Automatic recognition of a store’s uniqueness with respect to currently offered items, based on collected detailed sales data (at the level of receipts and receipt items) along with automatic replenishment.
Demand Management
Automatic generation of replenishment commands based on demand forecasts to maintain optimal stock levels.
Continuous Anomaly Detection
Constant monitoring of data and sales processes for anomalies (such as outliers and specific operational problems in stores) and generating alerts in real time, enabling immediate reactions in undesirable situations (e.g. lack of exposure of goods in the store).
Real-time Performance Reporting
Live reporting of current sales data and KPIs monitoring, refreshed every 10 minutes.
HOW DO WE WORK?
Business and technology workshops
We understand well the specifics of the retail industry and we know how individual the needs of each sector are. That is why we always start designing a dedicated platform by holding workshops with the client. During the workshops we analyze the situation, identify opportunities in the business sense and determine which available data and processes can be optimized by using Artificial Intelligence.
BOOK THE WORKSHOPS
HOW DO WE WORK?
Business and technology workshops
We understand well the specifics of the retail industry and we know how individual the needs of each sector are. That is why we always start designing a dedicated platform by holding workshops with the client. During the workshops we analyze the situation, identify opportunities in the business sense and determine which available data and processes can be optimized by using Artificial Intelligence.
BOOK THE WORKSHOPS
Platforms for retail
Data Lake
We build our platforms based on the Data Lake architecture, which enables secure and efficient processing of structured and unstructured data from various sources, such as: POS, warehouses, e-commerce or supply chain data.
Machine Learning
The use of advanced statistical methods and Machine Learning, taking into account a number of factors specific to the retail industry that affect sales (weather, temperature, special offers, seasonality) allows us to identify trends with high probability, predict demand for products offered, optimize replenishment and increase sales by just-in-time matching the offer to individual customer needs.
WHAT DO YOU GAIN?
Real benefits
5 – 7 %
increase in sales by
minimizing out-of-stocks
3 – 7 %
decrease in losses by
reducing overstocks
30 – 50 %
reduction of average
shortages in stores
Individual approach to business specifics of the retail sector in the
following areas:
- Seasonality of sales
- Cannibalisation of product sales
- Introduction of new products to the offer
- Stocking of new stores.
Why?
Retail-First
Advanced analytics based on Artificial Intelligence, adapted to the specifics of the retail industry.
Automation
Using advanced Artificial Intelligence algorithms to predict the future and automate retail business processes.
Holistic Data Analysis
Cross-departmental approach to online and offline sales channels to exploit the synergy effect.
We will reply within 24 hours
SZYBKI KONTAKT
Julita Ziółek
Account Executive