AI Analytics
Analytics that delivers impactful
shopping experiences.
What role does AI play in analytics?
The retail landscape is changing and with it, so are consumer demands and expectations. Shopping journeys, personalization, and overall consumer experience have never been more crucial in the make or break of an online brand. Retailers that have adopted digital transformation with conversational AI solutions and interfaces are now experiencing an edge over their competitors.
While there are many technologies that drive digital transformation, Artificial Intelligence has been driving Analytics for retailers, allowing them to track, assess and edit strategies based on consumer data gathered by digital shopping assistants.
Technology components in AI Analytics
Analytics are vital when it comes to delivering impactful shopping experiences and through AI, brands can now take charge to foresee and provide hyper-personalized experiences based on the consumers’ profile and preferences.
Structured usable data from raw unstructured data: NLU models extract entities, consumer sentiments, intents, topics, etc., from consumer queries to get structured valuable data.
Big data-driven analytics dashboard: Get real-time insights using this interactive dashboard populated with structured data extracted from consumer queries, as well as quantitative consumer data.
AI models to identify evolving consumer needs: AI models analyze Natural Language data to generate topics or areas of evolving needs, and further utilize these to generate new intents and actionable insights for brands.
SIDs analytics engine
MonitorSID
Allows retail brands to keep track of quantitative consumer data in real-time, with data extracted displayed as easy-to-consume KPI dashboards, customized to the brand’s specific monitoring needs. With MonitorSID, any interaction, consumer behavioral learnings, and data are automatically available for brands to track and analyze. This is vital as it allows for continual analysis and improvement of the digital shopping assistant’s ability to deliver high-quality shopping experiences and engagement to consumers.
MeasureSID
Get an in-depth look into every single consumers' mind and buying behavior with MeasureSID, which helps map insights gathered to actionable business opportunities and ideas, while identifying areas of improvement that need immediate attention. MeasureSID also enables Natural Language conversational data to be categorized based on topics and intents, which allow for further business analyses to derive what more consumers want from the brand, whether it is new product lines, change in product messaging, access to experts, and so on.
Read more to see how SID's insights and analytics increased conversions for one of Austria's leading luxury skin wear brands
Looking for a digital shopping assistant that supports AI Analytics for retail? Look no further!
Business benefits of AI Analytics
Enhanced consumer experience
AI-driven analytics empowers brands to recognize consumer needs at a much deeper level with the ability to break down and analyze conversational data that reports which areas of the shopping experience need improvement, how conversations can be made more seamless, and what roadblocks stand between your consumers and a frictionless shopping journey.
Business efficiency
A study by Forrester revealed that 64% of marketers believe that they need better data for prospecting, and 67% agreed that customer acquisition is more challenging than retention. Which simply translates to actionable data being crucial in a brand’s ability to forge forward. With AI Analytics, retail brands now get a first-hand look into consumer behavior that allows for smarter data-led business decisions.
Predictive analysis
With consumer data now available round the clock via KPI dashboards, retail brands can leverage the power of AI Analytics to identify, track and meet consumer needs proactively, with increased levels of personalization and consumer-centricity driving business decision-making.
Data crunching for insights
AI has opened up new possibilities to analyze unstructured data, especially first-part Natural Language expressions and data generated by digital shopping assistants. Consumers are directly interacting with brands and communicating their needs through digital shopping assistants in their native language. AI opens the door to crunch and process this Natural Language data to identify ever-evolving consumer needs, areas where their consumers are expecting support during discovery, decision-making, buying, and post-sales lifecycle. It enables brands to proactively design and deliver experiences that meet their consumers' evolving needs.
Read more about how SID helped a Swiss brand identify strong demand in new markets
FAQs
Learn more about SID’s digital shopping assistant that is backed by the power of AI Analytics. Analyzing every single consumer movement and conversation in real-time, and helping brands meet their consumers’ expectations by delivering impactful experiences.