Discover key insights on retail planning as discussed by Inside Retail Australia and Quantiful.

AI is driving a dramatic reinvention of retail demand planning. Here’s how

Australian retail businesses have been warned they are missing out on sales by reacting too slowly to customer trends – and that poor retail demand planning is resulting in unnecessarily high levels of capital tied up unproductively in unsold inventory in warehouses and stores. 

Jamie Cormack, founder and CRO at Quantiful, a developer of AI-powered demand planning software, told Inside Retail that using AI to predict demand is the only technology capable of deriving insight from large data sets to ensure the future of retail businesses. 

“Cloud technology companies have provided otherwise inaccessible computational power, this allows companies like Quantiful to develop AI platforms that can run trillions of simultaneous forecasts and include the influence of external data sets.”

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