Renner predicts sale with artificial intelligence

Renner predicts sale with artificial intelligence

October 20, 2020 By carolc

With the help of technology, both everyday processes and management controls can be improved, making the productivity of an entire company much greater.

Artificial Intelligence (AI) can be used in different ways, in different devices and is present in practically all segments of the industry.

Machine learning is used, making the algorithms learn on their own based on the information they have stored in their memory.

With these applications, it is possible to predict goals, yields, productivity and user behaviors. Millions of companies around the world are using this technology to further improve quality against the competition.

Using artificial intelligence

For more than a year, Renner has been using AI and claims that the use of this technology has brought great advantages to the company, greatly improving the procedure and with that the work is getting more and more efficient.

According to the Época Negócios website, the powerful Renner uses artificial intelligence especially in its sales area. Well, the intention is that your products have much greater efficiency.

The company still uses this technology sparingly, but even with this “shyness” the results have already been very beneficial for the company. According to her, tests with AI started in 2019.

With its use, sales analysis showed an increase of 12% in sales and in relation to inventory, a decrease of 18%, which are excellent numbers for the beginning of cooperation.

Renner’s product director said:

“AI allows for a clearer and more precise distribution of products and creates sustainability in the production chain.”

Machine learning in sales

As machine learning needs history and information for its accuracy to be efficient, information from past sales was used to make it possible to analyze sales in the economic environment.

Another factor that was also analyzed was the climatic part of each of the sales regions, so that AI could adapt and make an intelligent distribution of the products.

As a result, planning becomes much more precise and there is a huge reduction in production waste and an increase in the company’s logistics agility. According to Henry:

“The system reveals why the customer wants to buy that specific product. The more we get the predictions right, the better our choices are.”

The director informs that one of the biggest challenges to get to know if the sales are going to be good or not, and with that to be able to shape good planning for the store, in relation to the stock, is the enormous variety of combinations.

Combinations of cloths

A single piece of clothing can have several combinations. Like, for example, a shirt, of the same model, only with 5 different colors and 2 different sizes, how is it that the person will combine these 10 different ways of using?

With this simple fact, it is easy to see that the challenge is great, especially if we are going to see the reality that the number of combinations is immense. Even for the machine with artificial intelligence, this is a very big challenge to be able to efficiently order all this number of possibilities and increase the productivity of the sales.

To be able to do the procedure with the planned efficiency, it needed more investment, as the current equipment was not enough to make all possible scenarios for the use of the store’s products.

Using AI, the quality of service has improved a lot, where the disposition of a certain product with the specific color and size that the customer wants is analyzed. The second half of 2019 increased by 15%, now is 93%. By the next year, it is planned to reach 97%.

The director himself affirms that even in the midst of this pandemic and with major worldwide declines in various sectors, AI has remained giving good results to the company. What reinforces even more than the technology used intelligently, can add great changes.

There is a possibility for blind people to have vision with a bionic eye
There is a possibility for blind people to have vision with a bionic eye
Both science and technology are advancing at high speed. Several drugs are being discovered thanks to the technology's ability to analyze increasingly smaller microorganisms, in addition to tests being done faster and more accurately. Researchers from all over the world…

Digital Twins and the Industrial Revolution
Digital Twins and the Industrial Revolution
Digital twins are capturing the spotlight beyond creating information modeling, they evolve rapidly, and enable asset-centric organizations to converge their engineering, operational, and information technologies for immersive visualization and analytics visibility. A digital twin refers to virtual replicas of products,…

How to build a ChatBot?
How to build a ChatBot?
We already read what ChatBots are and how they work. A ChatBot is a program based on artificial intelligent capable of answer predetermined questions automatically also have a coherent conversation with a person. Knowing that, we can take the next…

Artificial intelligence and sustainable technological future
Artificial intelligence and sustainable technological future
The first pillar of Artificial Intelligence is machine learning, through which computers become able to learn and evolve. In technology, what happens is the logical processing of data and the identification of patterns that generate intelligence, this is called Machine…

How does a ChatBot works?
How does a ChatBot works?
Nowadays, we all have heard about ChatBots and maybe we should have interacted with one without even noticing it. Due to Internet massification, ChatBots is an in vogue technology as a communication strategy seeking to maintain direct contact with users.…

How technology is used to combat Covid-19?
How technology is used to combat Covid-19?
In new coronavirus worldwide expansion context by causing COVID-19 disease, it is important to analyze information and communication technologies role in public health, scientific, economic and social fields to help face instability situation generated by this pandemic. In this article…