APPLICATION OF AI (Deep learning) OF ERP DATA
Companies ERP data plays crucial part in company decisions process. Decision maker use and see statistical data of ERP to make proper decision, But sometimes data is too huge that business owner get confuse what decision to make, because of data's large distribution. AI (Deep learning) can really help you in this decision making process and sometimes if you allow would take decision for you. Following are use of your ERP/tabular data to help you work more efficiently.
PREDICTION POWER OF AI (deep learning)
AI algoritham can predicts any thing of the future which is dependent on data. Lets say we take an example of sale's. Since sales is dependent on many factor such as season, product, date, location, previous sales etc. AI takes all of your this data from past transaction and learn pattern of your business how your business runs from that pattern then it will predicts your future sales. Let assume you have higher sales on December because of Christmas holiday , people love to buy your product on christmas, Because in your previous data it is like this that there are higher sales on December month specially on 25-26 December . AI learn that pattern from your data and always predict higher sales in december month. Many companies is using AI for predicting future sale's which eventually helps them in stocking item before that month. Even many stock exchange uses AI to predict future stock price of shares based on its previous pattern and helps them to earn good money.
FUTURE WARNING BY AI
AI even warms you about future losses by seeing current situation of company and comparing with previous situation of company and warns you about losses which you may face because of current situation and let you make decisions correctly and wisely, It helped many companies from getting losses of billions of dollar's. Amazon is an example of it.
HELP IN DECISION
AI also helps you in making decision regarding any thing about company it can look backward and see which decision in that matter helps you efficiently to come out from that situation and recommend you to take that decision . Your sales decrease because you have removed certain product's from your inventary you are not able to understand that by removing which product our sales decrease substantially AI (deep learning ) model can see back in past and see each items performance and calculate its importance and let you know due to which products removal you are getting this losses. So that you can introduce that product back and increase your sales back.
UNDERSTAND YOUR PRODUCT ROTATION
AI helps you understand your product rotation more efficiently. It will first learn your products importance on every location based on its sales information. It also help's you to place product on best location to increase your sale. Because it learn rotation of your product in market. It really helps you in assessing your product features because you can see the impact of that feature in that product to the market by seeing its sales in the market.
MONITOR EMPLOYS SALES / PLACEMENT
AI helps you in monitoring and placement of employs ( salesman ) in the stores or places. As AI will learn selling power of employs by seeing employs previous sales record. it will also learn employs mastery of sales product which directly helps you making in decision of placing that sales man to which location and for selling which product.
AI helps you in making decision in cost cutting also. As there are many resources in the company. It uses all resources in the company and learn its importance in the company and learn about all cost incurred in the company by which means it check all resources costs importance to the company and let you with the low/ no importance resources and items in the company and recommend you to remove that resources to decrease the cost of the company. Resources may include Employs, machinery, travel expanse etc.
AI learns your customer behaviour and attitude through it sales transaction and customer complaint which eventually helps you in fulfilling customer needs and make your customer happy. Ai can also predict credit score for customer. Let say you give your product to your traders for sales but your traders pay you off slowly and untimely. AI will learn that behaviour of your traders and assign it a credit score so that next time AI will help you to know to much extend you need to give your product to that traders so that trader make your payment on timely basis.
CUSTOMER FRAUD SYSTEM
AI can learn fraud pattern from your data of customers who has done fraud from you. Lets say there is a customer who bought certain products from you and made your initial payments. Afterwards it ran away with your products. AI can learn that pattern of money giving and predict fraud possibility if in future some customer follow the same pattern of payment for behaviour.
POWERFUL CUSTOMER CARE SYSTEM
AI can be implemented on customer care also. Ai can learn all those customer problem due to which customer is leaving your company or product and can help you to solve these customer problm first which are on the verge of leaving your product or services and helps you retain that customer back.
CUSTOMER TASTE / PREFERENCES
AI learns your customers preferences and taste from its buying history and preference. It will recommend all products of his choice only which can substantially increase your sale and was satisfaction from your company. We all see this type of recommendation system in amazon, youtube, facebook post. Due to which user really likes this product.
List above are only some application of AI which uses your company data. There are many more application of AI which is given to by your ERP and tabular data. We will discuss more of this application in different posts.