HUL To Use AI To Predict Customers&#8217; Grocery Needs
Hindustan Unilever Limited (HUL) this week outlined a new project titled “Project Maxima” which will change the way Indians shop. The country’s largest consumer packaged and goods company is working towards using artificial intelligence to use precision marketing at a large scale. HUL, according to their recent presentation published on their website, wants to re-imagine the supply chain and corner shop strategy to change the way Indians shop for groceries and retail. According to their presentation, HUL is working on initiatives like Winning in Many Indias (WiMi), which divides the country into 14 zones. The management is also planning to decentralise with the formation of Cluster Category Business Teams, which are mini-boards for brand building and marketing. The plan suggests that according to Project Maxima, HUL will be able to do targeted marketing within 100 metres of a grocery shop, which it will geofence for distributed marketing and offering. They also plan to extract details such as who visited the grocery store over the last three months, what they purchased and when they are likely to buy next time, it said. Reportedly, HUL is planning to target six lakh villages and one crore outlets, over the next 10 years. The “smartpick” journey led by the data-driven algorithm for the consumers would look like: The company is using predictive analytics, Jarvis, a software that uses several AI techniques to gauge demand, volume, sales and profit scenarios under different simulated scenes. Also, with the use of AI, the software keeps improvising itself. “Error percentage is barely 3-4 percent,” said the company. HUL will continue to focus on modern retail and e-commerce.
Hindustan Unilever Limited (HUL) this week outlined a new project titled “Project Maxima” which will change the way Indians shop. The country’s largest consumer packaged and goods company is working towards using artificial intelligence to use precision marketing at a large scale. HUL, according to their recent presentation published on their website, wants to re-imagine […]
Reportedly, Hindustan Unilever Limited is planning to target six lakh villages and one crore outlets, over the next 10 years.
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["Go", "artificial intelligence", "programming_languages:R", "AI", "R", "data-driven", "programming_languages:Go", "analytics", "predictive analytics"]
["AI", "artificial intelligence", "analytics", "predictive analytics", "R", "Go", "data-driven", "programming_languages:R", "programming_languages:Go"]
Prajakta is a Writer/Editor/Social Media diva. Lover of all that is 'quaint', her favourite things include dogs, Starbucks, butter popcorn, Jane Austen novels and neo-noir films. She has previously worked for HuffPost, CNN IBN, The Indian Express and Bose.