When it comes to managing an e-commerce store or organizing data for warehouse allocation, retailers operating large amounts of products are often challenged with inaccurate product categorizations. Big data gets messy and many products can fall into the cracks of having missing or incorrect categories. For e-commerce stores, inaccurate product categorizations hurt their customer experience as visitors may be unable to intuitively search for the products they are trying to purchase. For warehouses, inaccurate product categorizations lead to product misallocations which cause bottlenecks in the supply chain. Unfortunately, the existing solutions available to ensure accurate product categorizations often involve labor-intensive approaches that result in high costs and long timelines.
AI will help your organization classify all of your products in a fraction of the cost and time. With advancements in text mining and computer vision, AI models can be trained using both text and image inputs to learn patterns associated with each category. Once these models are trained, they will classify all existing and upcoming products with the category they are most likely to fall into. AI models today allow retailers to add up to a hundred different categories of products, if not more. A retailer was able to classify their products with 95% accuracy, which allowed them to streamline their warehouse processes by ensuring that products were not misallocated. For an e-commerce retailer, AI also helps provide customers with a better experience in filtering to the products that they actually desire. It would not be pleasant for a customer to find a shoe in the jeans section.
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AI can help organizations across the board, no matter their industry, with a variety of internal and external challenger - from driving operational efficiency and optimizing expenditures to transforming marketing activities and improving forecasting.