As of late, much has been developed to provide the typical retail user, with Point of Sale Solution hardware that embodies the most recent technology and great aesthetic design. Tragically, POS Solution software has not kept up with these innovations in hardware design.
Most POS Software, by default, collects enormous amounts of data during normal day-to-day use. Unfortunately, this information is generally not used, in light of the fact that most POS Solution software does not provide data mining functionality, and suitable user screens, to use this data to help maintain a business.
In coming weeks we will investigate the possibility of applying 'Artificial Intelligence', 'AI' for short, to this information, and uncover the advantages in a few areas of a retail business. The areas we are going to cover are:
1) Target Marketing of Retail Customers
2) Product Price & Margin Control
3) Automation of Product Ordering
4) Automation of Real-Time Stock Valuation
5) Use of Key Performance Indicators
Target Marketing of Retail Customers
There is no doubt that, Point of Sale Solutions that includes integrated pro-active retail marketing, is becoming crucial to growing a successful retail business. It's generally accepted, customers are more expensive to acquire, than to keep.
POS Solutions, using tools like 'AI', can train their systems to recognize customers based on products purchased, spend sum and spend frequency.
An Email Marketing campaign, targeting these customers, could be in the form of an informational newsletter, an offer for a specific product, related to their general area of interest, or a Loyalty Voucher combined with information on a fresh out of the box new item. It is generally simple to choose what to send, when the POS Solution, using 'AI', has prepared a customer list. With a couple of mouse clicks, this campaign can be sent.
For more information click here Artificial intelligence retail solutions.