Powering the Digital Supply Chain: Machine Learning Enables Intelligent Segmentation – Part 1
Digital technology is revolutionizing supply chain management, driving significant innovation. Machine learning is a concept that has been around for decades, but lately has taken on new meaning as the industry has seen massive advancements in computing power and memory. This blog series will examine how machine learning is being applied to solve some of supply chain’s toughest challenges. Today, we’re looking at intelligent customer and market segmentation.
As any manufacturer, distributor, or retailer knows, no two customers are the same. Customers’ opinions on the value of a product or service, not to mention how much they are willing to pay for it, run the gamut. On one end of the spectrum, you have value-conscious customers, who always looking for a deal. On the other end, you have customers that will only buy premium goods and services. This is true for virtually every product category available in the market, from laptops to cereal.
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