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How Well Can You Know Your Customers?

by CIN7 Team
Good data mining and inventory planning can help you give your customers what they want.

Can we know what a customer wants before they’re even aware of it? A recent experiment suggests its possible. And one day this kind of AI may help brands fine-tune their marketing, do more precise inventory planning and be more responsive to customer choice.

Beyond inventory planning limitations

Brands need some way to plan inventory their inventory. Determining the optimal quantity to meet anticipated demand over a given time, however, is far from easy. Inventory planning requires the best data about ongoing sales trends, down to the SKU. But with so many factors in flux, how prepared can brands ever be?

Predicting unconscious choices

Ongoing trends and historical data provide relatively broad guidelines for inventory planning. At some point, however, technology may allow us to better prepare for customer preference. That includes the product they will choose at the point of purchase. In one recent example, researchers reportedly developed a framework to do just that by modeling machine learning systems on human brain patterns. Using this technology, researchers measured the brain patterns of a small group of people choosing one brand of soda over another. That data was used to create an algorithm that predicted beverage choice .2 seconds before the subject was even aware of their choice.

Cin7 reports and insights

At the very least, inventory planning requires good data. CIN7 provides brands real-time data and an extensive library of customizable reports to help optimize stock levels. Click below to find out how CIN7 can help your brand.