Читать книгу Impact of Artificial Intelligence on Organizational Transformation - Группа авторов - Страница 27

The customers’ needs and wants are of immense importance for marketers. Traditional marketing generally used the feedback from consumers’ and also the marketers had to rely on the data provided by the market research firms. With the advent of AI and more people inclined to use the digital platform to search for their requirements, the marketers can now precisely segregate the customers for their product/service requirements. The technological advancement has let the marketers collect the customer’s data such as customer’s name, mobile, email, gender, search pattern, and so on. With this data, marketers can create customer profiles. Therefore, the customers can be segmented and targeted for personalized promotions. It can also help in retaining the customers. Studies indicate that VPSAs (Virtual Personal Shopping Assistants) can predict and optimize the tastes and needs of customers [11]. Lucy: it is created by Equals3 and is named after the granddaughter of IBM’s founder Thomas Watson. It can analyze structured and unstructured data. It helps in segmentation, planning, and interaction with humans in an easy way. SOFMs (self-organizing feature maps) are used for market segmentation, i.e., portioning of a large market into small homogeneous groups of consumers.

Hidden Layer

Figure 1.2 ANN for market segmentation.

The market segmentation for an organization provides translate the opportunity for not only optimally utilizing the resources but also, at the same time, ensuring high profitability. But it remains a big challenge to translate the market’s needs in a precise manner. The ANN provides the solution with several methods developed over a period of time. The SOM (self-organized feature maps), GKA (genetic K-means algorithm), and ART (adaptive resonance theory) are some of the methods used for clustering/segmentation.

An ANN can be constructed for segmenting the market, suppose the parameters for the customer are socio-economic factors, demographic factors, and so on (input layer). The organization aims to segment the market to two segments (output layer). The hidden layer contains the algorithms that result in an outcome. The same can be demonstrated as in Figure 1.2 [39].