Retail

The rapid growth of the retail industry is being driven by the omnichannel shopping habit, a dynamic competitive environment, and changing customer product preferences. The uncertainty brought on by the epidemic has made decision-making more challenging since it is now required to balance short-term tactical imperatives with long-term strategic imperatives.

The ability to customize client experiences, develop responsive supply chains, and encourage effective assortment innovation are critical success factors in this environment. Decision science tools must also evolve in order to promote speedy insight formation, hypothesis testing, and learning. By using data, DS/ML/AI algorithms, and technology that scales these solutions effectively, retailers may provide value.