Advanced analytics, such as predictive and prescriptive models to support business decisions, remain the primary drivers of data science value in the enterprise. How might the flashy, fluent, but not entirely reliable generative AI large language models contribute to traditional analytics practice? The author describes some experimental prompts that show potential for labeling data and explaining model predictions, and shares guidance on monitoring and verifying that output.
Online retailers frequently assume that pleasing customers requires shipping each item in an order as quickly as possible rather than assembling the entire order and delivering a consolidated shipment. But new research with an online fashion marketplace found that customers receiving consolidated shipments were less likely to return items, lowering the retailer's logistics costs and improving sales. The authors suggest how to adapt fulfillment strategies in light of their findings.
In 2021, Amazon announced its market entry into Portugal with a dedicated offer. The dominant local electronics retailer, Worten, had been expecting and preparing for this move for years. The company had driven a digital transformation program and extended its e-commerce offer, which culminated in the building of an online marketplace that sold Worten products and third-party products. Over time, the marketplace extended to new categories, allowing customers to purchase a broad range of products. E-commerce had not been very popular in Portugal compared to other countries, but that changed with the Covid-19 pandemic in 2020, during which Worten knew how to serve customers in a safe and quick way, and which boosted e-commerce adoption. Worten also continued to lever its dense network of physical stores across the country to provide fast delivery and service options to customers. They hoped that this high level of service would be a great differentiator against Amazon and protect Worten's leading market position.
Online retailers may assume that customers value speed above all else when it comes to the delivery of goods ordered, but research shows that customers value other things when it comes to attended home delivery. This article explains why it's important to analyze customer data to determine actual preferences before making costly decisions to optimize delivery networks.