Artificial Intelligence (AI) and predictive analytics are essential tools for ecommerce businesses to predict customer behavior and forecast demand. AI can be used to identify trends and patterns in consumer behavior, allowing businesses to better forecast demand for products and set prices that maximize profitability. Organizations can also use historical data to predict future customer behavior and the products and services they are likely to purchase. For ecommerce businesses considering implementing predictive analytics and AI, assembling a robust data ecosystem is essential, followed by using machine learning to continually improve and monitor predictive models.
