TECH OFFER

AI powered consumer Trends and demand forecasting

KEY INFORMATION

TECHNOLOGY READINESS LEVEL (TRL):
LOCATION:
United Kingdom
ID NUMBER:
TO174265

TECHNOLOGY OVERVIEW

COVID-19 Pandemic has impacted consumer goods and retail in several ways Changing product and channel preferences through different phases of the pandemic Challenges with new data and demand predictions as  historical patterns become less relevant Disrupted supply chain and the need for transformation for resilience  SHAPE  \* MERGEFORMAT TECHNOLOGY FEATURES & SPECIFICATIONS
Highly Innovative and Proven AI Modelling from the latest Academic research Use All contextual data - COVID-19, Market, Environment and Consumer Data Specialized and proven for Consumer Goods and Retail companies, Validated with Industry data and partnerships The product roadmap uses deep reinforcement learning, agent-based modelling and concepts from game theory and consumer psychology to a) predict consumer trends in the pandemic with dynamic insights form all factors b) detect the anomaly and augment commercial decisions in a crisis and market turmoil c) Optimisation and recommendation of marketing and supply decisions d) Robotic & AI-based Omnichannel retail personalisation. The innovation lies in the use of frontline AI technologies and new data for highly accurate and rich consumer and market insights and decision making, where traditional tools have failed and are not scalable, especially post COVID-19.

POTENTIAL APPLICATIONS

The product is key to the ability to anticipate changing consumer trends, emerging market anomalies and accordingly take necessary steps in business planning and collaboration activities in the consumer goods and retail sector. The product has the following applications: 1) Predict short term and long term consumer trends and preferences for consumer-driven business planning 2) Short term and long term demand sensing  3) Proactive AI predictive scenarios powered supply planning and optimisation  4) Price, promotions and distribution optimisation

Benefits

The customers see the unique value in : - The ability to build future scenarios for short term and long term business planning and actions How sales, market share, penetration would be impacted with a new product, pricing or promotional investment? What proactive supply and production planning is required to meet the emerging market demands? What are the emerging consumer trends in short term, medium-term and long term that should be taken into account in the product, channel, supply, production planning? The ability to understand the relative impact of various business drivers to develop a new strategy and plans. - An ability to find opportunities in detail and in near real-time as the product enables analysis at the lowest level, e.g., product and local area, rather than the current systems giving insights at market and brand level.