NextWealth / Services / Structured and Semi-Structured Data
Structured and Semi-Structured Data
Craft smart and digitally focussed customer experiences that demand quality and are strategically lean towards transformational growth.
Artificial Intelligence has embedded and impacted different aspects of our lives generously. From contactless check outs to predicting the online behavior of an average user, AI is just about everywhere. Computers have changed the world drastically and societies are more technologically advanced than ever. With this transformation, eCommerce has emerged as a giant role-playing industry in the global retail market. It is a profit-driven marketplace where sales are on throughout, regardless of the time and hour. eCommerce players must serve every single customer with increased, customized personal attention and be available for customers 24/7. Enter AI. By combining the personalized feel of an in-store experience with the ease and convenience of online shopping, AI has made everything flawless. For eCommerce companies especially, AI has solved issues related to catalogues, thus saving revenue and cutting costs. eCommerce companies’ catalogues run deep with 50 to 100 million products and they have to be categorized accurately. On a daily basis, pricing has to be compared with competition and corrected accordingly. As this cannot be done manually for all the products, organizations leverage ML algorithms which compare the products and pricing with competition, perform deep analysis to understand the buying behavior and thereby the marketing that they need to do.
Our Structured and Semi structured Data Capabilities
Artificial Intelligence has helped the eCommerce industry maintain its dynamic operations to ensure a seamless customer experience. Working with the world’s largest multinational retail corporation and second largest online retailer, NextWealth has been on the cutting edge when it comes to transforming retail operations and online customer experience. With 30M+ transactions, and 99.9% accuracy, NextWealth has also given the trailblazing Lowest Price Leader a competitive advantage in pricing, customer service and experience.
Product Matching, Product Tagging, Search Query Optimisation, Attribute Normalization, Catalogue Cleansing
Match the same product as sold by multiple retailers across several marketplaces and websites swiftly and accurately to enable automated tracking of competitor pricing data algorithm simultaneously.
Upgrade customer experience, drive conversions and stay ahead of competitors by streamlining the process of getting products in front of customers. Accurately attribute tags to describe features and category including everything about the product—brand, colour, size, use, type etc.
Search Query Optimisation
Prioritize the buyer or searcher’s intent, adjust results based on what the searcher wants to see and deliver a page full of relevant results. Give visitors an easy to use search field that considers spelling mistakes, offers typeahead and helps with recommendations.
Classify each product or line item into an existing product type to determine its taxonomy. Different retailers use different classifications for their products and by identifying patterns and signals from titles, and descriptions, attributes are curated.
The proliferation of online sellers and the scale of enforcing the GTIN have often led retailers to reuse the same for multiple products. Identify and replace incomplete, inaccurate, irrelevant, and complex data and records.
Structured and Semi-Structured Data Applications
The Internet or World Wide Web has steadily become the wizard that can predict customer demands and purchase behaviour of humans. Without a doubt, Artificial Intelligence has helped retail and eCommerce companies provide personalized recommendations and support for online shoppers. Be it Customer Identity and Customer Recommendations; Inventory Management and Logistics; or Payments and Payment Services, eCommerce retailers are relying on dynamic technologies like AI- Natural Language Processing and Computer Vision to solve challenges and invent unique shopping experiences.
Track buying trends, determine more competitive product pricing and optimize prices instantly by maintaining profit margins and adjusting prices to offer customers based on external factors and individual buying habits.
Automate product tagging and enrich catalogues to generate consistent product data, improve product discovery and overall efficiency by helping customers make informed buying and merchandising decisions.
Display relevant product, matching or complementary products by utilising natural language processing to narrow, contextualise and ultimately improve search results for online shoppers.
Customise a more personalized experience for each individual shopper based on their product preferences, purchase or browsing history and deliver a consistent online experience across multiple platforms.
Logistics and Inventory
Drastically improve accuracy and efficiency in supply chain using machine learning to identify failures and defects and natural language processing for inventory management and routes optimization.