AI-Powered Predictive Analytics for Retail Trends

Ravi Samikannu, Sangwoo Jeon, Jueying Li, S. Gnanamurthy, Gladys Gamariel

Abstract


AI-powered predictive analytics is revolutionizing the retail industry by providing insights into market trends and consumer behaviors. This paper explores the methodologies and technologies that drive predictive analytics, focusing on applications in sales forecasting, inventory management, and marketing strategies. Through case studies, the paper highlights the benefits of leveraging AI for predictive analytics, including enhanced decision-making, improved inventory turnover, and targeted marketing efforts. Additionally, challenges related to data quality, model accuracy, and technology adoption are discussed.

Keywords


AI, predictive analytics, retail trends, data analysis.

References


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