The best carpets in Moroccan capital city Marrakesh are available at Rachid’s. He is selling his carpets in the narrow streets of the daughter of the desert for many years and knows his customers. What if you knew all your customers personally as well?
Just like the vendor Rachid. As one of the most experienced vendors on Marrakesh’s tangly markets, he can read humans like only a few. What appears to be easy at first, is the result of years and years of experience, for Rachid observes every particular in a matter of seconds. Every detail is of significance: For instance, language, behavior before a purchase or worn clothes. Nothing is happening by accident. With his negotiating skills and approach, Rachid continues an old tradition and in doing so isn’t that distant to the method of successful trend analysts.
What do AI and Moroccan vendors have in common?
With his method, Rachid keeps a constant dialogue with customers and knows which products are in demand and which new product bias are sought-after and what the customer is searching for. In e-commerce such a direct customer contact is absent at first. However, a trend analyst is informed about current market developments and can forecast them. In the application area of trend research AI plays – through us as well – a leading role. We achieve this with our artificial intelligence Pythia, which can do very precise trend research for future trends. Her algorithms deal with collecting, controlling and analyzing huge amounts of data, which are being evaluated with an artificial neural network. Instead of just calculating complex as-is states, which would be too large for the human brain, she can create forecasts. Therefore, Pythia recognizes trends and creates forecasts, which can provide a relevant competitive advantage.
Different from Moroccan vendor Rachid, even more comprehensive analyses are feasible. With accurate forecasts companies can make relevant products and respond to customer’s demands in real time and as a result maximize their sales.
Pythia was able to prove itself repeatedly: Based on Pythia’s trend forecast, we informed a manufacturer of cough sweets that the term "chesty cough" will be very popular in the colder months. The manufacturer produced a chesty cough version of his cough sweets and was able to triple sales.
By using Pythia, you know what the customer wants, before he knows it: With it, trend forecasts for future demands can be created. Thus, interested companies can improve their products development.
Send us a message or give us a call! We clear things up on how you can prepare your company for future trends with Pythia.