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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.
Prerequisites:
None
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.
Prerequisites:
None
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.
Conclusion:
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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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