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How Data Science and Machine Learning are Transforming the Retail Industry

The retail industry is evolving faster than ever, driven by changing customer preferences and fierce competition. In this fast-paced environment, Data Science (DS) and Machine Learning (ML) are empowering retailers to make smarter decisions, optimize operations, and deliver exceptional customer experiences.<br><br>At TutorT Academy, we equip learners with real-world skills that are in high demandu2014and retail is one of the industries where DS and ML are making a powerful impact.

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How Data Science and Machine Learning are Transforming the Retail Industry

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  1. Data Science & ML in RETAIL INDUSTRY

  2. What is DS & ML  in Retail? Data Science and Machine Learning are revolutionizing the retail sector. Retail giants and e-commerce companies are using these technologies to improve their operations and boost revenue. This technology is helping businesses in the retail industry streamline workflows and increase profits. Curated by Curated by

  3. Uses of data science and Machine Learning in Retail Industry Price Optimization Use machine learning to track resellers' conduct and ensure compliance with minimum advertised prices. Demand Prediction Improve inventory planning based on machine learning predictions of customer demand. Logistics Support Use machine learning algorithms to determine optimal delivery routes and enhance customer experience. From From To To Success Story Story Success Akansha Dhingra Akansha Dhingra Curated by Curated by

  4. Personalized Offers Utilize machine learning to evaluate user behavior and make tailored product suggestions. Predictive Analytics Leverage machine learning and AI to analyze historical and current data for better decision-making. Fraud Detection Utilize machine learning and AI to detect and prevent fraudulent activities during online purchases. From From To To our our Success Story Story Success Mohit Agrawal Mohit Agrawal Curated by Curated by

  5. Phurn Rate Prediction Use machine learning to identify potential customer churn and take proactive measures to retain them. Location Optimization Target customers based on location and optimize delivery routes using machine learning. Courses Offered by Tutort Data Structures and Algorithms
 with System Design Full Stack Specialisation
 In Software Development Learn more Learn more Data Analytics and
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 Artificial Intelligence Program Learn more Learn more Curated by Curated by

  6. BENEFITS OF DS/ML IN Retail DS/ML systems are used by Retail industries for a variety of reasons. The following are the most prevalent benefits of DS/ ML for Retail Industry: Establish Optimal Pricing for Products & Services Anticipate and Manage Inventory Levels Deliver Tailored Customer Experiences Identify Top Vendor Opportunities Enhance the Shopping Journey Monitor Customer Interactions at Various Touchpoints From From To To Success Story Story Success Awdhesh Choubey Awdhesh Choubey Curated by Curated by

  7. DATA ANALYTICS TOOLS FOR RETAIL Optimization Excel is commonly used for optimization purposes, but R and Python boast impressive optimization packages. Modeling R, SAS, and Python are popular tools in Retail for modeling. R and Python are now widely used, with specialized packages available for analysis. Segmentation SAS E miner is a well-known, pricey tool for segmentation. Alternatively, Knowledge Seeker, & Knowledge  Studio present more budget friendly options. Visualization & Dashboarding Tools Tools such as Spotfire, PowerBI, QlikView, Tableau, & SAS Visual Analytics, CXO have made a substantial impact in the Retail domain. Curated by Curated by

  8. Data Scientist Salary Trends In Retail Sector Company Name Average Annual Salary WALMART ₹ 31.1L Data Scientist Salary ₹ 11.0L ₹ 42.5L 2-9 yrs exp (29 Salaries) FUTURE GROUP ₹ 30.9L Data Scientist Salary ₹ 4.3L ₹ 66.0L 12 yrs exp (162 Salaries) KMART ₹ 21.7L Data Scientist Salary ₹ 6.0L ₹ 40.0L 2-5 yrs exp (95 Salaries) JUBILANT FOOD WORKS ₹ 25.4L Data Scientist Salary ₹ 12.0L ₹ 27.0L 2-6 yrs exp (12 Salaries) AMAZON ₹ 24.6L Data Scientist Salary ₹ 4.3L ₹ 66.0L 2-6 yrs exp (12 Salaries) MYNTRA ₹ 21.9L Data Scientist Salary ₹ 6.0L ₹ 40.0L 2-3 yrs exp(10 Salaries) Curated by Curated by

  9. Start Your Upskilling with us Explore our courses Data Analytics and
 Business Analytics Program Data Science and
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