The retail industry is undergoing a massive transformation, and data science plays a crucial role in this revolution. With the ability to provide valuable insights into customer behavior and preferences, data science has become a powerful tool for retailers looking to gain a competitive edge. And no one understands this better than global transformation expert Julie Roehm.
As an experienced marketing and strategy executive, Roehm has been at the forefront of the artificial intelligence transformation of the retail industry. With a career spanning over two decades, Roehm has worked with some of the biggest names in the retail industry, including Party City, Chrysler, and Ford.
Roehm’s passion for data science and her expertise in the retail industry has made her a sought-after speaker and thought leader. Her insights into the role of data science in retail have helped businesses around the world transform their operations and drive growth.
Julie Roehm: ‘I’m Very Excited About the Application of AI’
As a thought leader and forward-looking innovator, Roehm is on top of every new trend — especially the recent artificial intelligence explosion.
“In the retail world, AI is very important,” she said. “I am very excited about the application of AI. I am very excited about putting our own data sets against AI and how that can affect your CRM, your loyalty, and even your customer service.”
Once again, Roehm is right on the money. According to the World Economic Forum, “It’s necessary to act quickly and effectively to ensure success and to stay ahead of competitors. Artificial intelligence can support retail operations, increasing profits and optimizing business processes. AI services in the retail sector are predicted to increase from $5 billion to above $31 billion by 2028.”
It’s forecast that AI will impact automating tasks previously performed by humans, reduce theft, streamline costs by reducing the workforce, assist in sustainability and the reduction of carbon footprints, optimize the supply chain, and perhaps most importantly, increase customer satisfaction.
One of the most significant benefits of data science in retail is the ability to personalize marketing campaigns. By collecting and analyzing customer data, retailers can create highly targeted marketing campaigns that resonate with customers on a more personal level.
Effective inventory management is also critical for the success of any retail business. By leveraging data science, retailers can optimize their inventory management processes and ensure they always have the right products in stock.
Julie Roehm has worked with enterprises of all sizes to optimize the customer experience using data science. By analyzing customer behavior and preferences, Roehm has helped businesses create personalized experiences that drive loyalty and repeat business.
AI and The Walking Dead
Generous with her knowledge, Roehm said she’s “been advising some companies and startups. There is a small one [that] takes a brand’s data set and uses AI to break it down. For example, AI was used to determine why people stopped watching The Walking Dead. They took a bunch of social commentaries, used AI to break it down and put it into pie charts.
“They found that the No. 1 answer for why people stopped watching it was that it got boring. They were able to find the nuances; what was relevant, superfluous, and what was not. It allowed them to adjust their messaging to their customer and to the show itself in terms of the production and the content they are building.
“We are just in the beginning of AI,” Roehm concluded. “There is so much opportunity in the space of AI… as well as much responsibility.”