Accenture Integrates Google Cloud's Technologies for Retailers as Companies widen strategic partnership By CIOTechOutlook Team

Accenture Integrates Google Cloud's Technologies for Retailers as Companies widen strategic partnership

CIOTechOutlook Team | Thursday, 16 February 2023, 03:16 IST

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Google Cloud and Accenture announced new initiatives to assist retailers in modernising their operations and reaping the benefits of cloud computing. These initiatives include updates to Accenture's widely-used ai.RETAIL platform that deeply integrate Google Cloud's top capabilities in data analytics, artificial intelligence (AI), and product discovery. The two businesses have agreed to collaborate on go-to-market projects to give retailers the tools and support they need to modernise store operations and build on their shared customer wins.
 
Customer acquisition, pricing and promotions, assortment, and supply chains are just a few of the frequent systems and programmes that Accenture's ai.RETAIL integrated solution helps retailers optimise. As of right now, retailers can use the ai.RETAIL platform on Google Cloud, extending its trusted infrastructure and enabling integration with a variety of Google Cloud services and products. The solution's new features and advantages include:
 
  • Supply chain analysis with centralised AI. A supply chain command centre for RETAIL is run on Accenture's Intelligent Supply Chain Platform. Customers can now better organise data and provide a real-time picture of their most important supply chain indicators, including procurement, logistics, inventory, and sales, thanks to tighter connectivity across Google Cloud's popular products, such as Looker and BigQuery. Then, retailers may create plans for supply chain segmentation, run "what if" simulations, calibrate demand forecasting, and more
  • AI-powered customised client experiences. RETAIL now makes use of Google Cloud's Discovery AI solutions for retail, which may improve search quality, give tailored suggestions at scale, and assist customers in finding products by using photos. Retailers will be able to break down data silos and use AI or machine learning to enable predictive marketing engagements with more integrations with Accenture's Customer Data Architecture and Google Cloud's Customer Data Platform.
  • Utilizing BigQuery, Looker, and Vertex AI for assortment optimization. Retailers can now find, organise, and optimise stores with similar characteristics using new store clustering capabilities in RETAIL, which will improve selection, space management, and inventory strategies. This provides suggestions for how to enhance overall sales performance by maintaining, reducing, or eliminating particular products. These suggestions can be filtered by individual stores or store clusters.
"Retailers require solutions that enable them to holistically analyze their businesses and create value across their functional boundaries, but they are often limited by siloed data and legacy infrastructure," said Carrie Tharp, vice president of retail and consumer, Google Cloud. "Through our work with Accenture, retailers can quickly adopt integrated solutions that apply the best of Google Cloud technology and deliver the true benefits of AI and ML, with tools and capabilities that allow them to continuously optimize their business for today's complex retail environment."
 
"With shifting consumer buying habits, now more than ever, retailers need to invest in building a digital core—which includes a solid data foundation, machine learning, and AI. Powered by cloud, these technologies can help our clients spot trends, make decisions faster, and repeatedly reset the business as the market changes," said Jill Standish, a senior managing director at Accenture who leads its retail industry practice. "With the best of Accenture's integrated ai.RETAIL platform and Google Cloud technology, companies can now access products and capabilities to help improve consumer engagement and conversions, and make their supply chain more sustainable."
 
"Albertsons Cos. continues to invest in technology to modernize operations and provide even more customer-friendly shopping experiences," said Anuj Dhanda, EVP and Chief Information Officer for Albertsons Companies. "With Google Cloud and Accenture, we are integrating technology that enhances our supply chain operations by significantly increasing visibility into our inventory levels, helping us with forecasting and improving on-shelf availability so that customers have greater access to the products they want, wherever they shop."
 
Additionally, Google Cloud and Accenture are working together on a significant, new endeavour to address the complex problems that merchants are currently experiencing, including using artificial intelligence (AI). RETAIL uses additional technology and products from both organisations to assist businesses in optimising their interactions with customers, employees, and storefronts. Retailers will be able to use Accenture and Google Cloud technologies to update core elements of their business once they have a better understanding of end-to-end operations. Organizations will be able to seamlessly integrate and scale cloud infrastructure to their stores, factory floors, and more utilising technology like Google Distributed Cloud Edge, for instance. Through regulatory compliance, additional use cases will assist retailers in enhancing product discovery, enhancing brand loyalty, and enhancing customer trust.

 

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