Data Collection: AI systems ingest vast amounts of data from various sources:
Point-of-Sale (POS) Data: Transaction history, product popularity, purchase frequency.
E-commerce Data: Website clicks, search queries, abandoned carts, Browse duration.
Loyalty Program Data: Custome overseas data preferences, demographic information (Article 271).
External Data: Weather patterns, local events (e.g., Eid in Sherpur), economic indicators.
Pattern Recognition: AI algorithms identify complex patterns and correlations in this data that are invisible to human analysis.
Forecasting Models: Develop models to predict future sales, customer lifetime value, and marketing campaign effectiveness.
Segmentation: AI can segment customers into micro-groups based on their predicted behavior, allowing for highly targeted interventions.
Automated Actions: Trigger automated emails (Article 253), SMS offers (Article 277), or push notifications based on predictive insights.
For Bangladeshi retailers, implementing AI for predictive analytics is a strategic investment that enables smarter decision-making, leads to increased profitability, and ultimately creates a more responsive and satisfying shopping experience for customers across both urban and rural markets.