Machine Learning Applications Using Python: Cases Studies from Healthcare, Retail, and Finance

© Puneet Mathur 2019

Puneet MathurMachine Learning Applications Using Pythonhttps://doi.org/10.1007/978-1-4842-3787-8_9

9. How to Implement Machine Learning in Retail

Puneet Mathur¹ 

(1)

Bangalore, Karnataka, India

 

The three most promising areas in retail are:

• Retail consumer buying patterns

• Customer management

• Supply chain management

In the retail industry, the top-most item that has huge potential is applying machine learning to understand retail consumer buying patterns. Although there have been some advancements in this area, such as the creation of recommendation engines, this is just the tip of the iceberg. Consumer buying patterns are a human behavior that needs better understanding by a machine in order for it to derive any benefit out ...