Digital transformation of US retail through big data
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Victoria Livschitz, founder and CTO of Grid Dynamics, discusses the impact of big data on the digital transformation of U.S. retail, emphasizing personalized e-commerce, enriched in-store experiences, and dynamic pricing. The document outlines six key opportunities enabled by big data, including enhancing customer insights, improving operational efficiency, and utilizing AI for conversational commerce. Grid Dynamics, established in 2006 and acquired by ASL/Teamsun in 2017, has a significant history of innovation in cloud and big data, aiming to extend its expertise to partners in China.
Digital transformation of US retail through big data
- 1. Digital transformation of US retail through big data
- 2. About the speaker Founder & CTO, Grid Dynamics: 2015 - present Founder and CEO, Grid Dynamics: 2006 – 2013 Principal engineer, Sun Microsystems: 1997 – 2006 Victoria Livschitz Leading engineering IT services company focused on digital transformation through cloud, open source, big data and AI --- Designed eCommerce platforms for 4 out of 10 largest US retailers and never had an outage during peak season --- Founded in 2006, headquarters in Silicon Valley, with engineering offices in Eastern Europe. In 2017, acquired by ASL/Teamsun. About Grid Dynamics
- 3. Modern Big Data landscape - Rapidly growing volumes of data - Exploding number of sources - Broader use of analytics - Shift from batch to real-time - 360-degree view of customer - Personalized experience - Dynamic pricing, offers, coupons - Dynamic supply chain, inventory - Virtual shopping assistants - Chatbots, voice bots, AI devices - Automation with robots, drones - … and many more! Big data is powering massive further digitalization of retail
- 4. Top-6 opportunities enabled by big data 1. Personalize all facets of eCommerce experience based on deep insight from customer behavior analytics and 360-degree view across all channels Capture data Analyze data Exploit data Clickstreams captured image ML image Targeted email with custom offer image
- 5. Top-6 opportunities enabled by big data 2. Enrich in-store experience with optimal product placement, guided navigation & personalized advice based on same customer insights + location IoT data Beacons Videos Associates Beacons image Video camera over the isle image Mobile Magic mirror image Displays Store clerk with iPad image Customer with coupon on mobile image
- 6. Top-6 opportunities enabled by big data 3. Increase conversion rates with personalized search results, visual search, improved relevance & targeted recommendations using predictive analytics & deep learning
- 7. Top-6 opportunities enabled by big data 4. Set prices dynamically and programmatically, by adjusting base price and running targeted offers, promotions and coupons, to optimize business targets using ML Pricing Offers Business KPIs Image of reduced price on a shelf Buy 1 get one free 25% off Coupon Show graphs of trending revenue, profit, units
- 8. Top-6 opportunities enabled by big data 5. Improve operational efficiency by optimizing supply chain, reducing inventory and improving order sourcing with predictive analytics and machine learning Warehouse Supply chain Delivery Smart package conveyor Delivery truck on warehouse docks Products stucked on shelves (ex: rows and rows of jeans) Inventory Self-driving car
- 9. Top-6 opportunities enabled by big data 6. Tap into emerging eco-system of AI devices to enable conversational commerce over voice and chat Grid Genie diagram
- 10. Conclusion Big data, data sciences, machine learning and AI are at the center of technology revolution in Retail. --- Retail is at the forefront of big data applications, paving the way for other industries, such as banking & healthcare. --- Grid Dynamics has a rich history of innovation with cloud & big data in USA. We are excited to help our Chinese partners.
- 11. Thank you!
Editor's Notes
- #5: I tried to make the images match the descriptions ( vs the box description) above so it tells a consistent story of data being captured analyzed and used
- #6: For the ”video camera over the aisle image “ I think you’re referring to this kind of technology https://techcrunch.com/2018/01/21/inside-amazons-surveillance-powered-no-checkout-convenience-store/ you can take a screen shot if what I put isnt right
- #7: This visual might be what your looking for