D Appendix: Oracle Retail AI Foundation Cloud Services Overview
Oracle Retail AI Foundation Cloud Services provides advanced analytical insights to drive the end-to-end retail process. The foundation provides out-of-the-box analytics that are purpose built for end business users with a workflow and a user experience. The foundation also provides the ability to create a retailer’s own AI/ML models and then invoke and infuse those results into the business process as well as create application extensions with Oracle’s Application Express.
Oracle Retail AI Foundation Cloud Services includes the features described below.
Advanced Clustering utilizes machine learning techniques to cluster stores based upon similar selling patterns, providing a more customer-centric set of clusters to drive assortment decisions. The capability also provides the ability to cluster based upon other metrics and attributes such as space to drive assortment space optimization.
Customer Segmentation provides the ability to utilize historical performance, customer loyalty information, and demographics to segment customers to utilize in downstream processes.
Attribute Extraction automates the attribution process by extracting attributes from product descriptions.
Customer Decision Trees provide the ability to understand exactly how your customer is shopping their assortment. Are they coming in for a specific brand, product, size? This then enables you to utilize these insights within planning as dynamic attributes to pivot from your static merchandise hierarchy to analyze your assortment decisions in the way in which your customer is shopping.
Demand Transference drives insights into the overall uniqueness of items and the potential demand transferable to other items which is then utilized in assortment recommendations for both assortment planning as well as space optimization.
Profile Science helps retailers understand how to break their buys by size, looking at not just historical sales but also where there were stock outs and missed opportunities.
Affinity Analysis identifies associations across products and product types such as halo and cannibalization. These insights can help drive the overall decisioning of process of promotion planning and impact analysis.
Innovation Workbench enables data scientists to create their own AI/ML models with open source programming language as well as SQl.
Each of these capabilities can further fuel data-driven decisions for retailers.