Eric Cohen

June 22, 2022

Tech Talks - Retail Automation For Better Results

When it comes to making better retail decisions, how much automation is ideal for profitable outcomes?

Embracing the use of AI and Data to meet the needs of today's modern consumer. 

As technology continues to eliminate many of the tasks humans used to do manually, the question remains what can be fully automated and what is still best guided by a human hand. For some, it's all or nothing, man or machine. But what of a much more complex situation? To say go from a self driving car to one that no longer requires a steering wheel?

For retail executives the choice of what automation to use - and how much - is an especially intriguing question in an industry that has put best practices into place which have worked successfully for decades.

In this episode of Tech Talks, EDITED's Senior Vice President of Retail Science, Michael Ross, and John Squire, Founder of Dynamic Action, discuss the human versus automation equation. What is the difference between humans making decisions and those where humans are in the loop, being assisted by a machine? From human in the loop with exceptions to human on the loop and finally to a world of full automation.

Data Scientist or Retail Strategist - this is the show for you!

 


Notable Quotable: "Being told a decision is 92% accurate might sound reasonably good, but if 8% of the time it's going to blow something up, that 8% could be a very expensive 8%. So I think for me, as one starts to build these sort of human and machine teams, we have to set a high bar for what will give business leaders confidence that this AI is doing a good job. How do we make that transparent? How do we make it understandable to people who aren't professional data scientists?" - Michael Ross

 

Michael Ross is the Senior Vice President of Retail Science at EDITED, Co-Founder of DynamicAction and an Executive Fellow at the London Business School.

John Squire is the Co-Founder of DynamicAction and a member of the NRF Digital Council.

 

Get in touch now to take the guesswork out of planning, pricing and phasing assortments for your category using the power of EDITED's SaaS connected Cloud Commerce Platform.