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AI business school for retail Microsoft Quiz Answers

Get AI business school for retail Microsoft Quiz Answers

Retail industry decision-makers have considerations that are particular to their industry to help them realize the true transformational impact of AI in the enterprise.



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Module 2: Define an AI strategy to create business value in retail

In retail, decision-makers must take into account specific industry considerations before they can realize the true transformational power of AI in the enterprise. To create real business value, a comprehensive understanding of all the strategic components is required.

Learning objectives:

In this module, you will:

  • Describe retail industry outcomes achieved through the adoption of AI.
  • Articulate the components of an AI strategy.
  • Apply the value creation framework.



This module is part of these learning paths:

Quiz 1: Knowledge Check

Q1. What is the end goal of integrating AI into the retail experience?

  • Collect and correlate customer data to uncover and discover new insights concerning the customer base.
  • Discover new trends of larger competitors to identify and cultivate them through gorilla marketing tactics.
  • Act upon data in order to better engage customers and create personalized and consistent experiences.
  • Reduce operational costs through AI applications to inventory modeling that incorporates better demand forecasting.

Q2. What is a key way AI has helped online retailers become more successful?

  • Mass scalability
  • Predictive pricing
  • Mass personalization
  • Demand forecasting

Q3. How has the digital transformation of physical stores helped online retailers and their AI strategies?

  • It allows them to obtain better-contextualized data on their customers.
  • It allows them to increase the amount of data collected by incorporating brick and mortar shoppers.
  • Retailers can create separate and distinct experiences for in-store shoppers.
  • Online stores can expand their research into shoppers who don’t want their data collected.

Q4. What is an example of the type of data that omni-channel retailers are leveraging from their brick and mortar stores to better serve customers?

  • Same-store sales revenue.
  • In-store visitor feedback.
  • Customer traffic flow patterning.
  • Weather and traffic prediction modeling.

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This Problem is intended for audiences of all experiences who are interested in learning about Data Science in a business context; there are no prerequisites.

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