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Showing posts from February, 2019

Why Retail Returns Become a Technology Problem as Businesses Grow

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  The return looks simple from the customer's side. The customer sends the product back. The retailer receives it, processes the return, issues a refund, and puts the item back into inventory if it can be sold again. Behind that simple transaction, however, several systems may need to agree. The ecommerce platform has an original order. The payment system has a transaction. The warehouse has the returned product. The inventory system needs to know whether it can sell that product again. Finance needs to record the refund. Customer service needs to know what happened. When a retailer has few returns, employees can often fill the gaps manually. As the business grows, that approach becomes harder to maintain . The return itself isn't necessarily difficult . Keeping every system in sync is. Returns Touch More Systems Than Most Retailers Expect Consider a customer who buys a jacket online and returns it to a physical store. The store needs to identify the original order, confi...

The Complete Guide to Machine Learning for Business Leaders

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Machine Learning For Business Leaders Machine Learning has garnered a significant share of recent press coverage in both tech and main street media. It is inextricably intertwined with, and central to, discussion and dialogue on topics ranging from big data in general to Facebook’s threat to privacy, Boston Dynamics creepy robotics, and Google’s exploitation of artificial intelligence for good and ill. As such, it is easy to view machine learning as either sinister or magical — neither of which is true. For today’s business leader, an objective and actionable understanding of machine learning are as important as an actionable understanding of finance and financial management. Machine Learning is a subset of artificial intelligence, where computer algorithms are able to learn from data and modify their behavior accordingly. These algorithms have the ability to identify patterns in data that humans can’t see. Some commercial applications of Machine Learning include speech recognition,...