A Walk in the Store with Machine Learning A.I.: A Retail Store Planogram Analysis
Planograms are retailers' bread and butter. They help retailers to plan the use of their space and gather data that will help them to make smarter visual merchandising choices that drive in-store sales. As a machine learning A.I. enthusiast, I recently took a walk in a retail store with my newly developed machine learning model to perform an A.I. planogram analysis.
With my machine learning model, which has been pre-trained with the store's products, the results were quite well: the A.I. was able to identify the products, the prices, and the quantity. Below is one of the video footage of a planogram in the retail store after it has been processed by the machine learning A.I., and as you can see, the products and prices have been automatically identified by the A.I. model.
After the model rendered the footage, it displayed the result of its analysis:
In the short footage above, the machine learning model had identified 5 Stitch Cuddleez at $19.95 and 2 Angel Cuddleez at $19.95.
This simple A.I. planogram analysis offers a glimpse of the potential usage of machine learning A.I. in improving the efficiency and effectiveness of retailers' day-to-day operations. With pre-trained machine learning model on a smartphone, a store associate will be able to gather planogram data of a store in the time of a store walk (i.e., out-of-stock data by products, best-selling products / best unit movers by planogram locations, etc.)
As a machine learning A.I. enthusiast, and data professional working within the retail sector, I think this is the most exciting time for retail, as there are so many things we can do with all the technological advancements.
I look forward to seeing how these technologies continue to revolutionize the retail landscape.
Helping Retailers Scale | Executive Strategy | Deal Maker
5yThis is awesome Simon! Very exciting glimpse into the future uses of A.I. analytics specific to retail
Enterprise Sales leadership, Revenue growth & business performance. Enabling Digital Transformation journey ERP I Cloud I Data Anlaytics I AI. Enterprise Apps - S/w Products & Services. StartUp SAAS
5yThis has immense potential in the retail world especially complex and numerically large sku level stores by allowing real time collaborative analytics as well. You might also like to consider extending this model to integrate the supply chain, assortment optimization, pricing & promotions planning. Bottom line - Stock outs a thing of past ! Gartner has predicted that by 2020, 85% of customer interactions will be managed by AI in retail and has the ability to not only improve customer engagement and drive sales, but it can also assist retailers with otherwise time-consuming tasks like Retail Intelligence. Well done. Best !