For this reason, it is no wonder that recent research has shown: This history repetition prevention at 65% of companies improves simply through the use of artificial intelligence and makes predictive analytics a relevant tool in sales to stay up-to-date. According to a Gartner study, organizations using AI for their sales predictions can raise revenue from 15% up to more than 20%. One example would be that retail behemoth Walmart is using AI algorithms to predict purchase sequences, leading up a 10% increased sales during peak-seasons.
Powered by a robust AI engine, Spicy AI uses cutting-edge machine learning strategies to analyze your historical sales data and various market trends. A case in point is that of a top fuel cell consumer, who experienced an upsurge of 30% inventory turns upon leveraging the automated sales forecasting insights powered by AI. These tools can provide actionable insights from assessing for instance seasonal demand and other economic indicators.
The most famous entrepreneur, Elon Musk said one day that "With artificial intelligence we are summoning a demon". Where this may give cause for concern, a large proportion of business are discovering AI to deliver great gains in their operational ability. A recent report from McKinsey shows that companies using predictive analytics have decision-making processes up to 50% faster — affecting the decisions around sales strategies.
AI helps companies avoid excess inventory, sweep through stockouts and mitigate unnecessary liability costs. Also, an international fashion retailer used AI to mine data on shopper behavior that resulted in a 15% decrease in overstocked inventory. This not only saves costs but also ensures stock at the level of consumer demand.
If we had to answer the question: can spicy ai predict sales trends, based on what we saw. With extensive data analysis and the identification of patterns, AI technologies help businesses to reach real-time decisions. Part of our experience is because we can also rapidly move to the market going up and down competitive or activity changes
To know more, visit spicy ai for spiced up ai sales forecasting.