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Semantic Retail – Competitive Advantage through Data
Since Retailers implemented Point of Sale systems data has been a driver of competitive advantage. Modern retailing operations are reliant on up-to-date and accurate information from Vendors, Logistics Partners, Websites and Customer Relationship Management systems. Over the last five years we have witnessed a data explosion: Customer Feedback, Social Media, RFID and Sensor Data. Analysis of these new data streams by a new breed of Data Scientists is the new competitive playing field. Semantic Retail is the process of exploring new sources of data, making them available and understanding their relevance to find new ways to approach old problems.
Semantic Retail Solution
Semantic enablement of a Retailer’s complex technology and data infrastructure is a significant undertaking and First Retail has joined forces with MphasiS to deliver a solution. The Semantic Retail solution combines MphasiS’ core skills of business analysis, contextual domain modeling, and process improvement with First Retail’s expertise in Machine Learning, Data Science, and Computational Linguistics. A proven methodology ensures phased projects with tightly scoped and well-defined deliverables will take the risk out of managing semantic technology and business innovation projects.
MphasiS core methodology proceeds from a holistic analysis of business touch points, contextual domain modeling, and business process modeling to arrive at an ROI-based data and process improvement plan. First Retail has an exceptional team of qualified and experienced research architects and engineers who will apply their cross-functional skills and intellect to your problems. The combined team will employ proven analysis techniques and off-the-shelf algorithms, but are eminently able to define unique new solutions. A holistic approach blends traditional analytic approaches with machine learning, high scalability, and effective use of human-supervised processes.