Accelerate retail with AI, advanced analytics, cognitive services and bring agility to business
Challenges Faced by the Retail Industry
One of the first sectors to contract in times of crisis is retail. The operator whose economy is dependent on the sale of food, consumer product, etc. suffering immediately resulted in loss of revenue as consumption fell rapidly. After this pandemic, as per government guidelines, managing the workforce and customers became difficult. Businesses are facing more downtime. Old technologies failed to perform an online operation. Evolving in a continuously changing marketplace and meeting the expectations of each customer, brand migration is highly affecting the business as consumers started buying more online and preferring contactless purchases. Challenges arise in inventory management across physical and web channels. Unsecure payment activities result in more frauds. Businesses suffered a loss in the cold chain due to spoilage and theft.
For retail, AZURE is one such platform that improves customer service and efficiency. It helps retailers to modernize their IT assets by moving to the cloud. That new infrastructure architecture will bring connectivity, consistency, and efficiency required to a company. The AI and cognitive services build an effective, future-ready retail workforce. Power BI and daily Insights contribute to the company’s digital transformation and help to set marketing strategies. The secured transaction gains more trust among the customers. Dynamic 365 generates a quick response to consumer demand reduces the delivery time. It also achieved retail asset protection. It prevents the migration of customers with a loyalty program management. Augmented reality apps can be used for a range of retail activities, such as back-end stocking, providing low-contact shopping alternatives like curbside, home delivery, and demonstrating how to assemble a product to the customers offering an enjoyable and peaceful shopping experience. Azure Data Factory, Azure Data bricks, Azure Data Lake, Power BI, Azure Active Directory, Azure Monitor, and Data Addiction’s IP accelerator lake flow are all used by Data Addiction. Data Addiction may produce Azure resources 30 to 50 percent faster with Lake Flow, keeping a historical record of the data in a cost-effective data lake, and proactively monitor the data with Lake Flow. Azure Data bricks, which uses machine learning to perform real-time big data processing, gives the retailer a considerable speedy edge.
Business Benefits –
MSRcosmos- Microsoft partner that specializes in moving Retail Industries to Azure offers:
- Prevention of fraudulent payment activity wins the trust of people and makes it more reliable.
- Ensure employee and customer’s data security which can bring better employee-customer engagement
- It enables customers and employees to adopt a unified platform and makes workforce management easier.
- Real-time tracking of goods reduces losses due to spoilage, theft and fastens delivery processes.
- It increases opportunities for customization and improves the customer experience.
- Simplifies inventory management with the total technological environment and eliminates downtime at a warehouse resulting in time-saving.