Don't miss the event of the year! Rakuten SixthSense Symposium 2024 - Transformative insights from industry leaders! Explore More Here!
Don't miss the event of the year! Rakuten SixthSense Symposium 2024 - Transformative insights from industry leaders! Explore More Here!The retail and e-commerce sector is projected to reach $6.38 trillion in global sales by 2024. In this rapidly growing market, Rakuten SixthSense is revolutionizing the way businesses operate with its AI-driven platform. This solution leverages predictive analytics, data observability, and correlation techniques to optimize shopper experiences and fuel revenue growth.
Rakuten SixthSense enhances the entire retail ecosystem from supply chain to sales by offering real-time insights and comprehensive observability. It dramatically improves operational efficiency, speeds up issue resolution, and reduces downtime, boosting customer satisfaction and conversions.
At its core, Rakuten SixthSense uses Cognitive AI for predictive analytics, preempting system failures that could cost the retail sector $200,000 per minute. This approach ensures smooth operations, protecting revenue and fostering continual innovation. The platform also dismantles data silos, providing a holistic view of customer and operational data. With AI-enabled Data Quality Monitors and advanced analytics, Rakuten SixthSense guarantees data reliability for critical marketing and inventory decisions, which enhances personalization and supports e-commerce expansion.
As a strategic ally for retailers navigating the digital era, Rakuten SixthSense enhances operational efficiency and customer experiences with AI and data insights. This positions Rakuten SixthSense as an indispensable tool for achieving success in the competitive retail market.
The retail sector faced losses of $200,000 per minute from system failures, highlighting the critical importance of uninterrupted operations. Technical disruptions pose risks to operational continuity and revenue streams.
The Cognitive AIOps platform preemptively safeguards operations using predictive analytics and real-time monitoring. It identifies anomalies in regular behavior and aids in the root cause analysis of issues, thus ensuring operational continuity and safeguarding revenue.
Inaccurate customer data risks personalized marketing efforts, with a PwC survey showing only 49% of consumers feel companies deliver on customer experience expectations. This gap underlines the need for precise data observability solutions.
Rakuten’s Data Observability employs Data Quality Monitors and Rules to ensure the accuracy of customer data, enhancing personalization and bridging the consumer expectation-reality divide, thus improving customer satisfaction and loyalty.
Learn how Data Quality monitors can boost customer experience
Supply chain inefficiencies in retail, ranging from stockouts to overstock, are exacerbated by inaccurate data. AI in inventory control can lead to a significant up to a 20% reduction in inventory carrying costs and a notable 50% decrease in stockouts.
Rakuten’s Data Observability ensures supply chain accuracy with Data Quality Monitors and Rules, optimizing inventory management and enhancing both efficiency and customer satisfaction by preventing stockouts and excess inventory.
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Navigating online platforms can often be hindered by cumbersome interfaces and inefficient processes, leading to poor click-through rates, high bounce rates, and frequent cart abandonment. The average cart abandonment rate is 70%, according to Baymard Institute. These issues directly impact customer retention and overall satisfaction.
Rakuten SixthSense Application Observability maintains systems to continuously monitor KPIs such as click-through rates, bounce rates, and conversion rates. This enables us to quickly identify and rectify issues that affect user retention, session length, and cart abandonment, enhancing user experiences at critical touchpoints like POS terminals and addressing funnel chokepoints effectively.
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