When a system works independently without the help of a human and applies the information it has gathered to guide its own activities, we talk about artificial intelligence. There are also other definitions for artificial intelligence, but the previous sentence works as a suitable down to earth expression. There are numerous ways of using artificial intelligence. Self-driving robot cars or automatically generated propaganda videos are not directly related to Product Information Management (PIM), but instead an analysis of e-commerce traffic and product recommendations would benefit almost all our customers.
An online store can collect information about which products, product information or videos its visitors have viewed. The information can be combined with a customer profile and purchase history. By combining information, opportunities for additional sales can be found.
Example: A person responsible for product information management may think that a webshop visitor who has purchased a chainsaw also wants to buy a safety helmet. But when the e-commerce data is collected, it may appear that more often a buyer of a chainsaw also buys a small ax. Thus, when artificial intelligence recommends an ax to a chainsaw buyer, additional sales opportunity that could not be detected by human resources is automatically utilized.
Similarly, along the path to purchase (= the customer journey from rising awareness to becoming a product owner) it would be beneficial to be able to communicate to the customer exactly the way they want at each touch point. At its simplest, one could show a product video instead of a product image on an online store product page or one could highlight the technical features of a product instead of a milieu image.
The design and implementation of such variable content and providing it to different online store user groups has traditionally been laborious and required not only human resources but also interviewing, identifying and categorizing customers. It has been necessary to manually combine this information with sales figures and customer data.
Thanks to artificial intelligence, no work days are needed for data collection. Instead, the artificial intelligence software is harnessed to collect and organize data. It selects relevant product recommendations for each visitor and shows them in the online store. At present, artificial intelligence is mostly used by large players, but it is becoming easier and cheaper to deploy this kind of solutions. That’s why you should keep artificial intelligence in mind when setting up an online store.