Contents
Introduction
Decisions made from predictive modeling and data-driven solutions help businesses grow to new heights, thereby empowering stores to achieve greater productivity, detailed insights, and cost-risk mitigation factors. vizB provides a range of prescriptive solutions to accurately forecast and predict key variables of your Shopify business store which help you make the right decisions.
Intelligent Forecasts made on vizB
Sales forecasting:
vizB’s sales forecasting model is designed to accurately estimate the future revenue to be generated by your store by considering multiple factors such as trends in the market, trends in seasonality, sales of products or services offered by you. With the knowledge obtained from the revenue forecasting model, you can plan the store’s future expenses better, better manage your resources and make essential decisions for your store’s growth.
Demand Analysis and Best Discount prices:
vizB’s machine learning model can help your store in increasing sales conversions and help you explore a range of revolutionized ways of selling products. The goal of “Demand Forecasting” is to identify how much of a product will sell during a certain future period which can help in making informed business decisions to boost your store’s performance.
A promotional pricing strategy of products helps bring in more traffic to your store however deciding the price based on guesses isn’t the most optimal approach, hence vizB suggests the best-discounted price for your products based on the current demand. Additionally, it also describes the new demand for the products empowering you to design better promotional strategies for your store.
Churn Forecasting:
With vizB, you can improve your strategies to better suit the market trends and increase the number of returning customers thereby improving customer loyalty and growth in revenue. vizB predicts the churn rate for a given future period which can also help identify and improve upon areas such as customer service, inventory, etc. With an accurate churn forecast, you can take decisions to decrease the churn rate and improve revenue numbers.
Conclusion
vizB’s support for intelligent AI solutions will help you elevate your store’s profits, better organize your store inventory/ management and optimize your strategies and store promotions.
