This is good news for IBM and while Gartner mentions Watson Commerce Insights for predictive merchandising and predictive search, I am not sure why it doesn’t include products like Dynamic Pricing – which is clearly stated as a primary initiative for most B2B sites by 2018. Analytic’s and augmented intelligence is a big area IBM is investing in and it ties closely with managing customers for both B2C and B2B sites. As stated in this report, by 2020, smart personalization engines used to recognize customer intent will enable digital businesses to increase their profits by up to 15%. I don’t think products like IBM Predictive Customer Intelligence or Watson Customer Experience Analytics are well represented in this report and by next year there will be even more augmented intelligence features in the IBM suite. At some point, the Digital Commerce quadrant has to recognize these add-ons as a base part of doing business in this report and this year they should have clearly been listed as strengths in the industry.
Another area I think the report falls short on is order optimization. With more and more companies moving to buy on-line pick up in store or more specifically buy on-line ship from store, you are going to see more demand for order fulfillment optimization, something Watson Order Optimizer covers very well.
Some key messages from the report IBM is focusing on:
- IBM is a Leader, based on its product functionality, ability to support B2C and B2B business models, and its supporting ecosystem of applications that connect to its commerce platform across the globe.
- IBM maintains an extensive set of partners in the digital commerce ecosystem, which was highly thought of by its reference customers — all scored it “very high” or “outstanding.”
- By 2018, 40% of B2B digital commerce sites will use price optimization algorithms and configure, price and quote tools to dynamically calculate and deliver product pricing.
- By 2020, 25% of leading online sellers will have enabled first-generation “commerce that comes to you” capabilities.
- By 2020, smart personalization engines used to recognize customer intent will enable digital businesses to increase their profits by up to 15%.
Are you tired of the internet price wars? Are you sick of managing prices across all of your channels and competing with the likes of Amazon and other retailers? Do customers browse your brick and mortar store and use smartphone applications like RedLaser and QR Code scanners to scan your bar codes only to find it cheaper on the internet?
If so, then you may want to see how Watson and Dynamic Pricing can help you stay competitive across all of your channels. Here are some of the key benefits you get from IBM Dynamic Pricing:
- Re-price in real time
- Bring together online and offline prices
- Sense and react to out-price competitors
- Empower business users
Best of all, you get intelligent pricing at digital speed while getting competitive data in real-time enabling you to create customized strategies using product groups and rules. You can also schedule pricing strategy run times and it all quickly integrates with the IBM Digital Commerce platform.
Watch this video below to see how it works or go directly to the Dynamic Pricing page to read more about this cool new product.
Tagging digital content is time consuming for a person and very hard for a computer. Who remembers when Flickr’s auto-tagging was called out? (read more here) So needless to say its not a trivial task, unless you are Watson…
I am fascinated by this technology. To be able to actually pull apart an image and apply tags that describe what is in the image is amazing. If you think about the applications here, they are endless. I was thinking about how I constantly look for images on my Mac. I have over 10,000 photos on my mac and the only way I can find them is using the map if I recall where I took it or I remember the time frame and find it based on date. Imagine if you could do a search based on tags!
Since Watson Content Hub(WCH) does the auto-tagging for me I decided to whip up a short video showing the power of this amazing feature using WCH. Remember, you could always build your own application like this article explains using OpenWhisk and the API’s on BlueMix. To get you started, below is a screen shot of the Watson API’s on BlueMix:
Now for the video. Like I mentioned, I was really just playing around with various photos in my collection to see how well Watson did at tagging. All in all, I am very impressed…
Where do you think this technology is going? Will you expect your photo albums to have this ability in the future?
Want to learn how to integrate Watson into your applications? Well, it’s as easy as clicking on this link and getting started. From image recognition to financial services API’s there is an entire catalog of Watson API’s right at your finger tips. I personally have been playing with the Watson Content Hub API’s and they are very cool. A project I worked on used the Watson Content Hub(WCH) API’s with WebSphere Commerce where we used WCH as not only a central repository but also extracted the tags Watson generated for product images and pushed them into the product record in WebSphere Commerce. This enhanced the searching for products by a customer greatly. Watson generated key words we didn’t think of at first, making search and type-ahead much better.
Here is a quick video where we used a City Cool product called Minimals Moped. We pushed the images to WCH, Watson generated new tags, then we used those tags in the products keyword field. The search indexer did the rest and viola, the search experience was greatly enhanced to have a broader set of key words per product.
If you missed it, at the IBM Connect conference, Chris and Rob demonstrated how to build a page using Watson to assist in suggesting the content for the page with a single click. Very impressive and as Chris said “that is awesome”. Totally agree!
In the video below (which is much longer than the snippet I provide here), Rob shows the Cognitive Assist feature to help in constructing a new landing page for their campaign.
Take a look at the video to see how cool this new feature is.
If you missed the demonstration at Amplify with Watson and the IBM Marketing platform then you missed a really impressive demonstration.