Besides data analytics and accurate forecasting, AI can help companies scale their operations in various ways. Now that you understand how different niches can benefit from AI, let’s find out how you can skyrocket your business with this technology.
Strong Competitive Intelligence
Competitive intelligence will help you detect relevant rivals and gather information about their strengths and weaknesses. You can also track their actions like marketing campaigns, significant events, and product launches. It will enable you to find out what your target audience is saying about your competitors, use their flaws to your advantage, and spot new marketing channels.
Price Optimization
AI helps businesses define optimal prices to remain competitive and keep customers loyal. Factors like brand awareness, market demand, and seasons affect your price, so it’s crucial to adapt it on the fly according to real-time data.
Great In-Store Experience
If you have both online and physical shops, you have a chance to take the regular in-store experience to new heights. AI models can analyze your consumers' data and let you know about their last visits and favorite products. It will help you provide them with personalized discounts and recommendations, loyalty programs, and digital displays with product information for more thoughtful decisions.