Have you ever dreamed of having your own personal coach to help you figure out your next move with your work? With life hurdling by us at epic speeds, I know I have wanted help from time to time to coach me in my next move. With IBM Watson Commerce Insights, the “insight assistant” can take merchandisers to the next level and uncover insights, helping them work smarter and faster.
The insights assistant feature informs you of any changes in performance—both positive and negative—by alerting you to deviations from the current established standard, and expected performance. Take those newfound insights from your insights assistant and spring into action quickly. No more spending time browsing through your data to find out why your sales aren’t producing the results that you thought they would.
When the insights assistant alerts you to a difference in behavior, such as a decrease in your revenue for a category, you can take a look into the observation, the potential source, and learn what you can do about it. You don’t have to be a data scientist to understand what the assistant is telling you because it spells everything out in natural language.
A potential scenario to illustrate how the insight assistant can help you work smarter and faster:
Imagine you are notified that your item sales are down for one of the shoe styles you carry. You click on the notification and are taken to the summary view of the insight.
In the summary view, you can quickly digest the information and see what is askew. If you are viewing a product insight, you’ll also see the details of the product, such as offering price, SKU, etc. The first column is the observation that the insights assistant has made; the item sales for your shoe have decreased, for example.
The second column, are factors that the insight assistant perceives as contributing to the observation. Here, you can find a quick summary of anything that could have helped to create the observation. In our scenario with the observation that item sales are down, the potential factor is that you’ve had three days of no inventory. The inventory seems to be depleted before the next shipment has arrived.
The last column shows suggestions of where you can take action. The insight assistant provides you with a list of potential actions to help you succeed. In the list, any links will take you directly to the tool where you can immediately take action. This action column is gold! Imagine fixing your problems in only a click or two.
You can even drill down further and look at the details of the observation and potential causes.
The “details view” provides you with a breakdown of the insights, at either the category level (if there are no associated products with the category) or the product level. The expanded view covers the different metrics, such as revenue, views, price, such as average selling price and margin.
Now that you know what the possible issues are and what you can do about them, you can spring into action. In my next blog in this series, we will explore other features in Watson Commerce Insights that will help you move faster and more efficient in your world.
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