forecourttech June 20

More documents

Recommendations

Info

forecourttech AI THE NETFLIX WAY UNLOCKING THE POTENTIAL OF YOUR FUEL SITE DATA. pagesix Where is future growth supposed to come from? This vital question is frequently being asked, especially in a post-COVID-19 world where the global economy has hit nations, businesses and industries tremendously hard: the aspect of recovery is of utmost concern to us all. One obvious path for future growth lies right in front of us – or rather surrounds us. Data and digitalization are reflecting and rapidly transforming our lives. We are all consuming, generating and communicating more data than ever. Big data is getting bigger. In 2019 every minute of the day: 18.1 million text messages were sent - every minute, YouTube users watched 45,000,000 videos and 511,200 tweets were distributed. The three cases illustrate that users have generated, consumed and communicated structured and unstructured data. But, our ability to benefit from the growing number of data is still very limited. According to Forbes, only a miniscule portion of available data is currently being analyzed. Generally speaking we are on square one - we are not using the huge potential data provides sufficiently. Huge potential in AI Much of the growth we’ll be experiencing over the next decade will be driven by AI. PwC predicts that AI will add $15.7 trillion to global economy by 2030. The development of disruptive technologies has seen AI used as a key to unlocking the potential of big data. It is possible to analyze these data to improve our decision-making processes and guide our preferences. With AI, new patterns in the many data we are surrounded by are discovered and mapped. This mapping can even be done truly autonomously and in real time allowing businesses to far better and more rapidly meet the demands of constantly changing customer behaviors. Big data, AI, customization and flexibility are all interrelated. The reason why streaming services such as Netflix have gained a global foothold is due to an ability to use AI strategically in a specific everyday context. AI finds pathways through the jungle of movies and matches titles and genres with different and varied interests. This enables Netflix to provide personalized recommendations addressing individual preferences based on consumer behavior. This is not abstract or misty future talk but something that is used strategically and successfully daily. AI is sublime for mapping and finding patterns hidden in huge amounts of data. #forecourttech @forecourttech www.forecourttech.com
forecourttech The reason why streaming services such as Netflix have gained a global foothold is due to an ability to use AI strategically in a specific everyday context. PriceCast Fuel a new strategic toolbox With PriceCast Fuel a2i systems has created an advanced AI-based model. It is a paradigm shift to the sector. Price- Cast Fuel is the first-and-only industry-specific retail fuel pricing software empowering AI to optimize and automate fuel pricing. Our model is built on the same AI-principles that Netflix use every day throughout the world to find pathways in an enormous amount of data. With PriceCast Fuel, fuel retailers are now able to analyze and find new patterns within data from their many existing daily transactions. With PriceCast Fuel the willingness to pay, volume and satisfaction among customers is rising. When our customers start to take advantage of their data to perform data-driven pricing based on AI we typically witness a 0.2 to 0.7 CPL margin increase together with a 0-5% volume increase overall. And this goes from single station owners to network operators with 1000 stations. This is obviously a clear advantage. But the biggest potential with PriceCast Fuel solution is that it provides retailers with a new and additional strategic tool enabling them to strengthen their market position and create new business opportunities. Frodi Hammer, Co-founder & CTO at a2i Systems A/S We have developed a plug and play-solution which fuel retailers now use to adapt their services to varying customer needs as exhibited by their behavior. pageseven Frodi is one of the speakers at forecourttech V, a virtual event taking place on the 6-7 October 2020. For more information on Frodi’s talk and other presentations please visit www.forecourttech.com/ speakers #forecourttech @forecourttech www.forecourttech.com
Page 1: Technology for the evolving retail
Page 4 and 5: forecourttech News round-up JHVEPho
Page 8 and 9: forecourttech Supplier news & insig
Page 10 and 11: Explore how you can benefit from Wa
Page 12 and 13: forecourttech pagetwelve COVID-19 h
Page 15 and 16: forecourttech Providers of smart &
Page 17 and 18: forecourttech Mepsan +90 216 540 36
Page 20: SAME INNOVATIVE SPEAKERS SAME INVAL

forecourttech June 20

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?