Problem
Artificial intelligence (AI) can be implemented in various industries. Fashion Station is a clothing retail business. The owner of Fashion Station has decided to implement artificial intelligence technology to the online retail portion of the business to identify trends in online consumer behavior. You are appointed as the Business Analyst with expert knowledge on artificial intelligence being used within the business environment similar to Fashion Station.
Task
Big Data Analytics is commonly used to determine the trends and patterns of consumer online behaviour. When researching the trends in big data analysis, you had come across a concept called retail analytics. Retail analytics is the process of using big data to optimize pricing, supply chain movement, and improve customer loyalty. Report to the management of Fashion Station on any five ways Big Data is transforming the retail industry.