You're reading from AI-Powered Commerce Building the products and services of the future with Commerce.AI

Product type Paperback

Published in Jan 2022

Publisher Packt

ISBN-13 9781803248981

Length 256 pages

Edition 1st Edition

Concepts

Artificial Intelligence

Authors (2):

Andy Pandharikar

Frederik Bussler

View More author details

Table of Contents (17) Chapters

Preface

1. Section 1:Benefits of AI-Powered Commerce

2. Chapter 1: Improving Market Opportunity Identification FREE CHAPTER

3. Chapter 2: Creating Product Ideas

4. Chapter 3: Understanding How to Predict Industry-Wide Trends Using Big Data

5. Section 2:How Top Brands Use Artificial Intelligence

6. Chapter 4: Applying AI for Innovation – Luxury Goods Deep Dive

7. Chapter 5: Applying AI for Innovation – Wireless Networking Deep Dive

8. Chapter 6: Applying AI for Innovation –Consumer Electronics Deep Dive

9. Chapter 7: Applying AI for Innovation – Restaurants Deep Dive

10. Chapter 8: Applying AI for Innovation – Consumer Goods Deep Dive

11. Section 3:How to Use Commerce.AI for Product Ideation, Trend Analysis, and Predictions

12. Chapter 9: Delivering Insights with Product AI

13. Chapter 10: Delivering Insights with Service AI

14. Chapter 11: Delivering Insights with Market AI

15. Chapter 12: Delivering Insights with Voice Surveys

16. Other Books You May Enjoy

Using big data to enable better forecasts

Because AI learns from big data, we can use it to uncover hidden patterns in large sets of data about separate products or entire markets and overcome the biggest challenges with traditional forecasts.

For example, with Commerce.AI, we scan billions of product data points across over 100 sources to find trending product categories, showing product teams what market opportunities are worth pursuing. The following diagram shows some trending product categories that were found using the Commerce.AI data engine. Product teams can select any category to dive deeper and find leading brands, top products, product reviews, and more.

Figure 3.1 – Trending market segments

This data enables insights on specific market categories, as well as larger market segments. For instance, in the preceding diagram, we can see that markets such as computers and accessories, vitamins, and kitchen and dining are particularly large...