Dynamic pricing: Using intelligent price algorithms allows retailers to achieve the best possible product price over the entire product life cycle while avoiding markdowns. They achieve higher margins and increase profit. Intelligent check-out couponing, another application of personalization, increases purchase frequency, e.g. coupons on the receipt, loyalty cards and in-store kiosk systems.
Personalization: The AI-supported control of digital signage provides impetus while shopping. Personalized product recommendations at various touchpoints in the store, e.g. self-scanners, scales, checkout, consultant tablets and shopping apps achieve demonstrably higher shopping basket values.
Fraud detection: Frictionless shopping – our main topic for EuroCIS 2019 – improves the shopping experience for customers and sets new challenges for retailers. AI-based fraud detection supports retailers when introducing and handling cashless payments, e.g. in the form of self-scanning and self-checkout. Intelligent algorithms use current shopping basket transaction data as well as customer behavior to predict the probability of fraud at every checkout. They provide recommendations for a rescan and use scan results to continue learning independently, making their predictions increasingly more accurate. Customers are not unsettled by unnecessary scans. At stand C42 visitors can experience a live demonstration of how it functions in the store.
In addition, visitors learn everything about GK’s pioneering store solutions:
- The frictionless store is the trend of the future in retail. Consumers can use their smartphones for all activities when shopping without contact with the IT systems or with the retailer’s staff. The mobile consumer assistant, for example, offers services such as self-scanning, AI-based recommendations and mobile payment.
- At the stand, visitors can experience the heart of the GK world of solutions, the cloud-based store platform OmniPOS, which manages all store processes. They can experience in person the opportunities that OmniPOS offers retail in connection with artificial intelligence, the use of mobile devices and the latest technologies.
- GK Software offers several new solutions for special requirements based on the OmniPOS platform: The scale software OmniScale, OmniPOS Petrol for seamless integration of gas station and convenience store businesses into the overall solution as well as OmniPOS Hospitality to integrate restaurants into the channel-spanning overall strategy.
- GK Software also offers solutions for blockchain-based payment technologies and virtual reality stores.
Europe’s leading trade fair for retail takes place on the exhibition grounds in Düsseldorf and boasts the motto “Technology never sleeps”. It demonstrates highly specialized solutions in the industry. Last year there were 470 exhibitors and approximately 12,000 international visitors. Book your appointment with prudsys at https://prudsys.de/en/about-us/events/eurocis/.
prudsys AG is the leading provider of agile AI technologies for omnichannel retail. The prudsys Realtime Decisioning Engine (prudsys RDE for short) automates personalization and pricing processes across the entire value chain. This allows retailers to offer customers a seamless shopping experience of the utmost personal relevance at every sales channel while simultaneously maximizing customer loyalty and earnings.
prudsys AG has been on the market since 1998. As a pioneer in the fields of real-time personalization and automated pricing, the Chemnitz-based company has been actively working to shape the development of omnichannel business from the start. prudsys AG customers include companies such as babywalz, bonprix, C&A, Coop, Douglas, Klingel, Obi, Sanicare, Thalia and Würth.
prudsys AG is considered a best-of-breed provider. Its in-house research department works tirelessly to further develop intelligent algorithms and test innovative methods for omnichannel business. The company is the holder of numerous patents and places great importance on cooperation with renowned scientific institutions.
prudsys AG has hosted the DATA MINING CUP since 2000. Every year, over one hundred universities and thousands of students take part in the internationally renowned competition for intelligent data analytics and forecasting. prudsys AG has thus been successfully bridging the gap between theory and practice.
prudsys AG is part of the GK Software Group, one of the world’s leading providers of complete store solutions.
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