Is Cognitive Technology Empowering Retail Chains?

By CIOReview | Monday, April 16, 2018

155

271

The surge in the use of smartphones and other smart devices has overshadowed the traditional methodologies of the retail industry. With users being abreast of the latest trends in the industry to find the best fit for their needs, the retailers are finding it difficult to draw the attention of potential customers towards them. In this situation of despair, the retailing industry is slowly migrating towards integrating and embedding cognitive technologies in their platforms.

With cognitive technologies onboard, businesses can now leverage machine learning tools for recognizing speech and analyze massive amounts of data to serve customers better despite their real-time geographic locations. Using cognitive technologies businesses can automate certain customer related tasks and concentrate on the bigger picture to improve the prospects. With machine learning, businesses can understand the behavior of particular customers and improvise their systems to deliver a better experience to customers. Mobile apps are also being designed these days to help manual shoppers locate the items they are looking for at stores. The advent of cognitive technologies will certainly uplift the customer experiences both during manual shopping and in e-commerce platforms.

The shift of customers towards technology has put the traditional retail chains in jeopardy. Owing to better experiences, customers are getting inclined towards the retail chains which have already leveraged cognitive technologies. In order to keep up with the needs of customers and the changing market scenario, there is a need for the traditional retail chains to upgrade their systems from a technological standpoint.