Improving retail and consumer brands’ consumer experiences requires data science. However, with limited access to data scientists, brands need to find alternative ways to extract value from the data they collect on a daily basis. This is where AI solutions come in.
With the right AI solution, consumer-facing brands can become more data-driven which allows them to compete with well established tech giants.
What Does Democratizing Data Science Mean
Democratizing data science allows non-technical, yet data-driven, teams to translate and receive actionable insights from their consumer data. Using AI to extract and translate data into relevant insights saves brands from the challenging, expensive and time-consuming process of hiring internal data science teams.
Why Data Science is Important
In 2022, consumers expect highly personalized experiences and the only way to provide that at scale is through data science. Along with higher conversions, personalization also leads to improved customer loyalty which is why it’s necessary to implement it in your digital marketing efforts.
How to Leverage Data Science with AI
AI is rapidly growing in popularity among retail and CPG brands. Solutions powered by AI and machine learning help non-technical teams leverage data science and help brands scale their personalization efforts in less time and at a lower cost than hiring an entire data science team.
Finding the right way to implement data science into your business is not one-size-fits-all, but there are three key steps:
Discover and set specific goals and progress benchmarks.
Look for the right solution to your goals.
Select the right partner to provide your solution.
Check out my full article for Spiceworks, Why Democratizing Data Science Should be the Norm, where I go more in-depth on why retail brands can consider AI as a way to leverage data science and personalization.
Want to leverage AI in your business but unsure where to start? Get in touch with us today!