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B2b Sales Forecasting for Product Management
B2b sales forecasting for product management How-To Guide:
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FAQs online signature
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What method should be used to determine sales forecast?
Regression analysis is the sales forecasting method that inspects how individual sales strategies (the independent variable) affect performance (the dependent variable) over time. The model uses past performance data to predict what could potentially happen if the strategy continued or if another was used in its place.
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Which forecasting method is used for new product?
Judgmental forecasting is usually the only available method for new product forecasting, as historical data are unavailable. The approaches we have already outlined (Delphi, forecasting by analogy and scenario forecasting) are all applicable when forecasting the demand for a new product.
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How do you forecast sales for a new product?
The most common forecasting method is to use sales volumes of existing products to forecast demand for a new one. This method is particularly useful if the new product is a variation on an existing one involving, for example, a different colour, size or flavour.
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How to forecast product management?
One approach is to use a combination of forecasting methods. For instance, a company could use time series analysis to forecast overall market trends, and then use qualitative methods to adjust these forecasts based on expert opinions and market research. Another approach is to regularly update sales forecasts.
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How do you estimate sales forecast?
To come up with these forecasts, you must project the number of units you will sell, then multiply that figure by the average cost per unit. If you run a larger small business, you can also include metrics like the number of locations, sales representatives or online interactions.
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What is a B2B forecast?
It is a method for evaluating and forecasting future demand for a product or service using predictive analysis of historical data. Demand forecasting assists a company in making better-informed supply decisions by estimating total sales and revenue over time.
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How do you predict sales forecast for a new product?
To forecast sales for a new product, consider following these steps: Conduct a market research study. ... Consider historical data. ... Choose a forecasting method. ... Check your forecast. ... Create a sales plan. ... Monitor your forecast.
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What are the methods of b2b sales forecasting?
These include length of revenue cycle forecasting, opportunity stage forecasting techniques, historical trends, sales forecasting techniques, multivariable analysis forecasting, and pipeline forecasting. Each method offers its own set of advantages and can be tailored to the specific needs of your business.
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in Maharashtra state is organized an international e conference today's Kor speaker is on Das honorable yes chitra maam so firstly I hearly welcome to you madam I welcome the chief organizer of the series of an e International e conference the ideal principal of Sri Kumar Swami mahavidyalaya honorable drar sir I also welcome all those dear participants the topic for today's presentation is machine learning's contribution to the e-commerce landscape the topic is going to present as I have mentioned the keynote speaker yes chitra maam she is presently serving as an assistant professor at the International School of Management Excellence from bangaluru so with this brief introduction now I request to you madam please start your presentation on the topic machine learning's contribution to the e-commerce Landscapes but kind request I can give some more information from your site and then you start you're most welcome please thank you sir thank you so much so uh thank you for the opportunity given by betka Sir so he keeps giving the opportunity so I would uh give a wonderful speech and which will be uh insightful and uh you would be able to get at the end of my session uh at least the uh the machine learning how it is like actually we every day we all are using e-commerce in one or the other platform we are using it but at least how the technical technology is supporting Ai and machine learning is supporting to lead uh the M e-commerce successful manner so we are going to discuss so this this forum is open to all please uh go ahead and uh please you can ask me yeah let me start the session thank you for the opportunity once again sir PK sir so I hope my screen is visible yes ma'am please yes yes okay so just I'll uh so this is what about my topic machine learning algorithms contribution to e-commerce landscape so both the terms you know technically both the terms are related e-commerce also we know very well uh the Commerce which is we know Commerce means what how our old people had Olden uh traditional Commerce it was by exchanging the cash earlier before to that by exchanging the products it was uh they were doing the Commerce then it had come with the rupees right not rupees we can say it's like money money transferring giving the money and getting the products it was like that then uh then the technology had started improved then e-commerce came into the picture so e-commerce means what with the of electronic devices we are going to do the uh selling and buying of goods and especially this e e-commerce came to the Boom in the covid era because we all were locked inside the inside the house homes we couldn't able to go out step out and go can't able to have able to buy our daily products itself so there that time the e-commerce came into our into the picture not only that time it's it was there in the market but it started booming in the time of covid until we are we are utilizing the uh benefits of the technology okay so what are the in what is first of all in e-commerce so it is a buying and selling of goods and services and uh we are like we would able to do the earlier if uh if we are going to do any shopping it was like we have to spend time for that and we should go to the market and buy all the things it is not like that now 24 by 7 so we could a able to buy the uh product at any time uh with our mobile device or with our laptop we could able to order the thing and uh at the store step we could able to get deliver deliver the products correct so let me start with one problem statement uh a person he want to improve the customer experience he's a he is a supporting business one one business he he is a he is working as a customer relationship manager so he wanted to impove Pro the customer experience by collecting and managing analyzing customer data in an extremely strenous task and when done manually but he wanted to do it in manually so see for an example uh he is working one one super supermarket so per day he is getting 100 dmart only we will take it as so he wanted to uh dmart we know it is a very big shopping center all kind of products we could able to get it so now daily basis he wanted to collect manually collect the dat data and analyze and uh arranging the data ing to the uh market and ing to the people buying so Market Basket analysis Market Basket analysis means bread milk butter going to be kept together so that idea it is the Commerce people the like a businessman he applies he finds the trend pattern and he wanted to increase the sale he was doing it but if it is a big uh business everyday analyzing the data and finding it out it is not an easy task and that person timing working time also it is very restricted 9 to five only he he is working working time after that he wanted to he can't able to analyze the next day when he comes that the next the next half the analyze he can't able to do so he is not 24 bar7 available so now for that reason uh we are going to bring up the machine learning algorithm it's nothing but machine learning it's a subset of AI so that uses the algorithm which provide the system it is going to automatically learn and going to improve the process what is the experience so now bread bitter milk has to be kept together means so now this is the like morning time it has to be kept otherwise the night time it has to be kept together means machine will start learning by finding the trend of the sales and it will suggest to keep so that is what e-commerce it is it is doing it okay so see for example Lily it is a robot okay so like Adam Adam is his working time is 9 to5 so he is available only 9 to5 so what are all the sales happening during that time only that he could able to learn well but now ourly it is a robot it can able to uh experience with the experience with the 24 power 7 constantly it can learn and it can find the pattern trending pattern that is what in our recommendations system in our Amazon it is coming you all would have come across one one one at least once whenever you are going to buy a if you are going to buy a sell mobile phone down you would able to see the Bluetooth and uh mobile cover and temper class all the advertisement it will come together so it just means the person who is buying a sell mobile phone there is a chance he will also by the machine so e-commerce platform only we are seeing but there the Amazon is having the machine machine learning algorithm see for an example I had named it as Lily that robot is learning it is nothing but this person may buy this things so the recommendation system so sales is getting increased so they are finding the patterns trending the patterns they are finding it so the Amazon machine learning algorithm that robot is finding and giving the suggestion to us at least 10 out of 10% minimum three or four will buy the recommend system suggested products I usually do so whenever I'm buying one product I'll go down recommendation system what and all it is it is giving so related to my product if it is necessary I may order for that so sales also increasing our necessary also it is getting fulfilled so that is what the machine learning so now uh earlier the Commerce the normal person what he was doing now our Lily is also going to join it is a robot it's nothing but it is being trained with the machine learning algorithms and going to focus with the support of Lily Adam is going to focus and going to increase the sales of his business so that is what the machine learning uh in the e-commerce so what and all the uh solution they are going to welcome customers it is going to do you could able to see like we all would have come across and at least today before my my session also someone of someone would have ordered big basket right for tomorrow's milk you would have bought or vegetables you would have ordered so so the time when you are going to the big basket welcome message will come pops up coupon codes fres to home and all it is nowadays with the coupons many coupons it is coming and shows are height certain upsell or cross cell products I'll show you what is that upsell and cross cell products feeds data back to the advertising machine learning engine re retargets customers and follows them some uh customers will be targeted and see you would have wondered you would have been watching the product in some other website but when you go to your Gmail or when you are going to Amazon but you would have checked in some other website that ad will come to you first scbe you when you would have uh searched for your baby uh some product but when you are watching your Facebook it will so this is a recommendation system so it increasing the cell which is learning that your machine what was that uh Facebook and all the things what was the machine learning algorithm being embedded it is learning this particular how it is retrieving data with your Mo Gmail ID and you are the user with the Gmail ID or your phone number so that data is being collected by the machine and it is learning like see for example I wanted to buy a shirt so I'm just looking into that so my my mail ID and what is the mobile number I had enrolled in that it is from there the data chitra is like to buy this particular dat shirt it is being fetched and going to be processed by the machine learning algorithm and the Machine learning algorithm prompting as to uh like it is making other websites other the other websites like Flipkart or mintra it is giving the uh offers to you what all the shirts and what all the uh particular companies offers are there it is going to highlighting to you so that is what feeds data back to the advertising machine learning engine retarget customers and follows them froms forms shapes the offers based on their activities and the third party websites receives all the data and reshapes the pages again send mails and push notification we used to get the push notification flip cart mea sale offer we used to get it that is also the machine learning algorithm support only nothing but machine learning it is a subset of AI robot it is actually what is robot what is the artificial intelligence a machine is going to act like a human so human has to learn so now if how I'm how we all are talking we our parent or our teacher had taught us to talk how to speak so we all are with our brain we have uh stored all the learning thing and we are processing and we are good we could able to communicate the same way artificial intelligent learn the algorithms with the support of machine learning algorithms so that is what the thing and keeps all changes in the boundaries set by humans sensors the success with constant reporting checks results learns and adjust herself so let me start see uh Global e-commerce Market size and growth you could able to see uh actually by 2021 uh e-commerce Market was dollar 5 trillion 2 trillion and now it is estimated like 2026 it will be like uh 8 trillion so almost 10% cagr compound annual growth rate is increased okay so you could able to see uh Global e-commerce market so China and USA is is play it is playing a important role uh they are doing the lot of e-commerce transactions okay so how the e-commerce adoption Trends first of all why the e-commerce is getting increased it is because of the age groups people who keep buying the things using the mobile so you you could able to see 16 to 24 years people like 27 percentage but who is that 35 to 45 age people are using lot of mobile and doing the shopping using the e-commerce okay and now we could able to see so the people uh who could able to move out and buy because of their um work work work Tech working thing workload they could not able to go out they are saying their they are doing their shopping with the mobile itself that's the reason e-commerce Market is getting increased so Global reach so e-commerce become a phenomenon uh Emerging Market markets and embracing online shopping mobile dominance that is the reason it is that market is increasing and generation shift so Millennials and Genet are diving the e-commerce adoption millenials means 35 to 45 years people and gen said that um 25 to 35 34 these two people are you could able to see from graph so those two V and Genet generation are adopting to the e-commerce much because their mobile usage is much okay so let me start let me come to the uh topic of topic for today it's nothing but uh what is machine learning machine learning machine learning with e-commerce so machine learning uh the world of e-commerce it's totally changed what it is going to make uh get the deeper insights into the business and the experience is going to be personalized and going to find the product recommendation and fraud deduction all the techniques it is improved with the support of machine learning so like we are not seeing the person who is the uh vendors and who is the seller we don't know anyone but we have some trust with the mobile Commerce platform and we are paying and selling the goods and services we are getting the services I'm see for example if I want to buy a sell I'm paying one lakh rupees over the Internet so there is a chances to get the fra so what the plan platform is which platform is giving the Assurance to that so e-commerce is providing the cyber security support fraud detection and if it is any fra uh fraudulent activity is deducted it Intimates it it looks like it seems like Su suspectable uh um transaction so it will block it used to block that particular transaction so I I guess anyone of you would have got come across with this situation so uh that all the things it is e-commerce platforms are given to us with the support of machine learning so what is the product uh uh recommendation engine you all would have we all would have got this right even if it is a very uh very uh very less useful sites also recommendation this engine is playing an important role so first of all it will Target the behavior so it will uh search the purchasing history of us so we if we would have purchased last uh last time any books related items educational books so we will keep getting the advertisement related to that means it prompting us to buy same kind of thing because it is finding from our purchase which is the uh which is our interest so it is taking it and dynamic pricing means uh depending on the demand see for example now it is the reason uh rain season so during the rain season umbrella May uh umbrella kind of thing uh will give you the like that is the demand so for that that kind of uh uh products will come to our thing and winter season sweaters and Jurgens will come to our thing and summer season AC or um that cool drinks in all these things will come to our thing so the dynamic pricing so that pricing also will keep changing depending on the competitor see for example Flipkart and Amazon are going to give the same time the um sales Mega sales you could able to see the uh price dropping from one the previous day it will be high the next day it will be low so you could able to sell so by looking at the competitor sales that machine in the Amazon machine learning algorithms what was fed it is going to be dropping down the prices prices of the products and upselling and cross- selling and personalized content I'll show you what is upselling and cross- selling so you would have come across this what is upselling the is giving you the recommendation no you may like this kind of shirt also shop cross- selling means what I wanted to buy shirt but along with that it will in so buy when I'm buying a shirt obviously I may look for the pant okay or I may look for the sneakers so all this things so this is a cross selling so all the things it is giving the support so it automatically increases is the sales how the machine is learning amaz Amazon machine is learning with the support of machine learning algorithm and Predictive Analytics for demand forecasting demand forecasting means um see for example now the next season is the summer season so for that what all the products will come to the sales so it has to be analyzed and demand has to be focused now it is Festival season is going to come Diwali is going to come so the gift they will start start sharing so Diwali season if it is going to come what kind of uh uh that uh what kind of dresses they will buy and sweets they will buy and uh they buy uh many gift items all these things the sales should increase so that is the thing so analyzing historical data realtime monitoring and optimizing the inventory so that is what demand forecasting and fra deduction and prevention so as I said very well friendly fra has to be finded online refunds has to be put and card testing has to be done card testing with the OTP it is happening so all the algorithms identify suspicious purchasing patterns and it has to be intimated with the mod model model assess risk of each transaction and continuous learning the machine learning algorithm will do next optimizing pricing and promotion so Dynamic pricing I already discussed about it and personalized offers ing to the see for example if it is getting to know I'm the girl and I uh like I'm a woman and I keep looking for the accessories means ing to my personalized interest and I may look for the saries cies all the things so ing to my interest the offers will get display and revenue optimization and enhancing customer experience with chatbots so you could you would have come across this with the chatbot you have some uh some products you have a doubting that some companies are providing the chatbot uh support so you would able to inter with that and you can able to get the uh like why are you not buying what is the feedback you wanted to provide and uh um do you have any queries that kind of making uh making the e dear participants I think there is a technical issue from maam side so kindly wait sir am I audible yes ma'am yes please continue yes ma'am your muted please un ma'am your voice please am I audible now sir yes ma'am yeah yeah I sh I'll share the screen sir wait sir kindly wait I'll share the screen is my screen visible yes ma'am yes yes yeah okay so improving supply chain efficiency we this when when we order for a uh thing so actually Supply Chain management the Commerce people very well know from the supplier to the customer how it is going to reach now with the support of e-commerce if you would have uh direct traditional if you would have bought some product directly also uh that that particular shopkeeper says that you will re you will get after two days means we can't able to track from where he is getting and how it is going to reach to our house but with this e-commerce support support we could able to track from the supplier to the customer how it is going to reach to us and where it is whether it is started uh and from the warehouse or fulfillment to the center and whether it is started ready for the disc dispatchment and is it going to arrive by today everything it is getting tracked so that support e-commerce is giving with a support of impr machine learning uh algorithms okay so accurate prediction of customer demand and root optimization to plan the most efficient delivery routes GPS with the GPS support anyway we are going to discuss with the GPS support how fast that particular product can reach to the customer uh that is going to be done automation so supply chain processes and streamlining the operation and increasing the productivity and future Trends and opportunities in e-commerce ml so Predictive Analytics so forecast Trends means as I said already so the next uh next next event is August 15 the next event so that time what kind of sales that white CES sold my sorry white cies will be sold uh very fast means they that kind of uh advertisements can be put up into the uh e-commerce platforms and automation robotics so they can uh use the revolutionize e-commerce for the logistics and warehousing which will make the delivery to be very quick and computer vision so now augmented reality right so if I wanted to uh uh so if I wanted to uh I I'm going to buy um buy a uh product now I can make the virtual uh reality it means I can place my camera and I can make like I want to buy a sofa to my heart so I can place I can use a virtual reality and I augmented reality I can use my camera and I can get a suggestion like how good um this particular room can be occupied by by this particular Furniture so that I could able to do so these are all the trends and opportunities in e-commerce and CRM customer relationship management chatbot is the very important thing so to identify this groups and unique behaviors and preferences so customer segmentation so grouping the people so ing to our age first of all it will decide you could able to see at the same room when the Amazon it is opened by you as a father as your son the homepage of the uh Amazon screen will keep changing means it can able to identify what kind of product from your age group for your age group and to your son age group what kind of product they buy the machine learning learns that and it will give the advertisement ing to that if you if you have not come across please check you could able to identify differentiate that which is learning it machine learning in your Amazon or flip cart system is learning it uh and se segmenting you people as the age from 42 or 30 to 40 and 20 to 30 so you to uh ing to the customer it is going to uh customer group it is going to to divide the uh people into that particular segment and that kind of advertisement are going to be given to the customers and CH prediction so this is we are going to discuss let me go to the thing and personalized engagement it is nothing but our uh chatbot robot okay what is the churn prediction so it is nothing but from the uh from the uh image you could able to see so if like uh see for example uh identify the customer who is willing to cancel their service or subscription so the some people uh see for example Amazon Amazon Prime when it was in the market when it had come I was a customer to to that now I don't want I'm not I'm not feeling like uh I'm not feeling like to watch many movie in Amazon Prime now I'm feeling like they are not they are not providing with the good content of videos so I'm the customer of Amazon Prime I'm willing to move to the next Netflix or hard star so now customer I'm going to be the uh unwanted custom I'm not satisfied with the customer Amazon Prime service so I wanted to exit from that so that time customer churn will come so that PR the uh machine learning in the Amazon Prime will thing and it will give some offers and uh it will let me to retain in that Amazon Prime so that is a customer CH so it is a focus their resources on keeping happy customers reducing customer churn and boosting overall profitability so when the customer start moving out of that particular service obviously that particular business will go into the will end up with the loss that is the thing and better decision making that is a very important uh uh very important feature of machine learning data driven Insight so it will analyze the e-commerce data any patterns it will find new new patterns new new patterns whenever it is found and it will give that kind of advertisement to us and predictive capabilities so uh forward-looking decision it will make us to do okay next automated optimization so continuously Monitor and optimize the realtime thing and it will let us to buy the things and GPS tracking machine so enhanced Logistics predictive maintenance enhanced logistic means delivery routes and it is going to reduce the time of the delivery routes and um delivery vehicles and proactive maintenance to reduce downtime maintaining the delivery vehicles realtime visibility we could this we all are come across we could able to uh get the live updates of our products whether it is ready for dispatch whether it is going to deploy everything and demand forecasting I keep saying you about that so with the historical GPS data means for for example uh this time in Delhi it is heavy rain so what are all the products being sold out uh last 10 days due to drain so that kind of advertisement can be given to the Delhi people so G tracking the historical data data of the GPS they can able to do the demand forecasting Amazon and machine learning techniques so in Amazon and machine learning techniques if you see Amazon providing the recommendation system so we can able to provide the personaliz product Dynamic pricing so it will uh uh give the it will monitor the com competitor for example flip cart and give the offers to the Amazon customers and it will increase the profits Predictive Analytics and it utilize the machine learning algorithm to forecast customer demand and it will give the logistic and fulfillment operations uh see the previous day if you see that particular product see for example I want to buy bolo sport watch the I would have come AC I would have checked in Amazon then I'm moving to Flipkart I'm going to check the next day when you are going to order so you might be thinking like like let me check in Amazon that time if you are checking the previous day it was shown like uh delivery charges 100 rupees but the next day when you see you would able to see like there is some changes in the delivery charges so that kind of uh de uh that it it will let us do and at natural language processing virtual assistant Alexa okay to understand and respond to the voice and flip cart and machine learning uh it is also using and product search it is giving the support demand forecasting also how Amazon is giving the support the same way it is giving and recommendation engine and fraud deduction everything it is going to give us support and Netflix Netflix also the best example for the e-commerce Netflix hotstar Amazon Prime so it analyze the user Behavior ing to the user interest it gives the content what your interest that kind of service Industries it will be providing and B2B e-commerce and machine learning if you see intelligent product recommendation B2B e-commerce we know business to business how the uh business means um quicker okay it is a example for business to business people sorry customer to customer sorry business to business means retailers and suppliers how it is going to be so that is a thing so the complex sales process sale products and services to companies and less lesser leads so you would able to see from this particular diagram how the business to business people will say will make the business between the between them and how the uh this one is going to support intelligent product recommendation automated procurement and reproductive sales forecasting okay so depending on the market trends customer Behavior Uh B2B business to business people has to find the demand what the customer needs that kind of product has to become come to the e-commerce platform and it has to come for the sales so these are all the use cases in e-commerce search results link uh ranking building uh deals bundles price forecasting selecting the seller review and rating quality product content quality demand forecasting malicious returns and this is how the machine learning work actually uh if you're technical people you might be understanding in a good way uh but otherwise also I'll try to all the products are going to be uh given to the clustering first of all means what all the products are coming like uh see for example I can cluster into um clots and I can cluster into accessories and I can cluster into uh provisional and I can cluster into uh what is what to say uh housekeeping uh I sorry uh what I can Furnitures okay now this is going to be find the time series features and static features time series features means if you see uh gift items uh like all the um Diwali related uh Diwali related like what you say uh all the gift items has to be the time series features static features means at any time any the people will buy some few items commonly so that's it and that is going to be the data that is the next step is going to be the data augmentation and it is going to be given to the any machine learning models there are many algorithms logistic regression svm all these things and they will end up with the prediction what kind of product will sell for the next one month that kind of things can be predicted okay so what is conclusion uh so it is a real-time services and it is going to give the customized experience and cannot depend on a human phase so anyone can buy any anything 24x7 with the support of e-commerce platform which takes the support of machine learning algorithm increasing the profit and providing the service to the customers at any time at in in their doorstep so that's it for the day from my side if you have any query you can ask sorry uh thank you so ma'am for the wonderful presentation yes really it was very informative lecture yeah thank you sir thank you uh now I request dear participants for your queries if you have please come ahead discuss with keyote speaker honorable chitra ma'am please welcome good evening chitra ma'am and good evening all of you good evening thank you uh respected prinal Dr mmar sir Prashant sir and Dr prakash karad sir and all organizing committee members thank you ma'am it is a very good presentation ma'am and your lecture is your lecture [Music] is very informative and knowledgeable yeah thank you sir thank I ad I have some question huh I have some question ma'am first question is what is the role of machine learning uh e-commerce second question is what is the machine learning landscope landscape okay so uh what is machine learning right what is the role of uh uh machine learning e-commerce okay sir sir um uh have you used any e-commerce platform today Amazon or flip cart Noam okay sir sir do you have that [Music] website in your mobile uh I do not see s okay sir one second sir I'll just uh show you one thing one second please let me share my screen now it is a world of sir new technology yes ma'am please can you able to see see uh these are all the products once in a while I would have come across okay in my website see lunch boox last week I have bought so this is a recommendation system how my machine learning I'm interested in so this is amazan using the machine learning that particular machine had learned it I'm interested in this kind of things and it is giving bringing to my uh website like uh ing to my interest it is recommending that I may buy all the things so obviously the sales will start increasing so which is doing that in e-commerce e-commerce is what it is the buying and selling of goods and services in the in the in the in in internet but uh ing to my interesting it is going to bring uh the uh devices right sorry not devices products right that is called called as the machine learning so uh that machine in this particular uh Amazon uh is using some AI technology that machine is learning ing to my interest and uh later on whenever I'm going ahead with this particular Amazon see what are all the products I have bought see actually last week I have bought this so that and all it is giving getting us a recommendation the system so this is the role of machine learning in e-commerce okay yeah one second thank you so much ma'am what is the what is the difference in education learning and machine learning what is the difference what sir what sir what is the difference between between machine learning and education learning education learning am I am I correct sir education learning am I correct yeah yeah yeah yeah sir I'll give a best example uh you would have learned um ABC in your or I'll tell you one thing okay uh if I'm telling you to touch fire will you do it sir yes mam if tell you to touch fire will you do it you might be at the age of 35 okay 35 years and years uh if I'm telling you to touch fire will you do it sir uh no no definitely not no one would have done because I'm we all have got the experience if we touch fire we will get hurt correct no sir H yes yes okay now one year old kid I'm telling to touch fire not other it is it is facing some fire in that will it touch yes baby touch yeah after some days if it is seeing the fire it will not touch that because it learned it from its experience if I touch fire I will get the hurt am I correct sir yes this is the education learning it is not like someone has to teach even mother mother can teach or what a baby can uh learn by its experience or by teaching by mother or teacher or someone it's a education learning now come to the machine actually AI means what this kind of thinking capability is going to be given to the machine that is what AI okay so machine has to think like a human being that is what artificial intelligence now that kind of uh teaching means with the algorithm I'm going to teach the machine if any uh see for self-driving car what it is if speed R it has to be rise down so that kind of algorithms will be fed to the uh artificial intelligence through machine learning algorithm so like how you are learning with the experience the same way machine will learn with the machine learning algorithm I hope I'm clear yes M thank you madam okay sir in this connection I may quote one example yes sir if you please allow yes sir yes sir thank you sir uh actually uh recently I was talking with the students of my college yes and uh I just give an example quote example during 1980s and all we were using a mobile uh cell phone as a noia so every students were having most of them having Nokia 10 Nokia 20 30 40 3,000 like that but now if you go for that Nokia is not in Market yes sir Nokia has not adopted the technology Android technology and the Nokia comes out of the market yeah so that we can say nowadays the cell phone which we are using is a Android phone similar example during 80s we were using tap recorder we dance and we sing we we we listen the music and all but now that casset has gone outdated at that taken place by uh disk CD CD player okay we used to take a CD player and then near phone we uh listen the music we enjoy the music but now the disc also gone out and now simple pen drive has taken place so here in this case connection what I found that the technology changes we have to change ourself and what the uh my learn it participant were were asking the education learning and machine learning similar uh example can be cot that if you go for Nokia you won't get in the pocket but if you go for apple and all you will get easily so this is the education learning and now machine learning is how taken a place in New scenario thank you okay thank you anybody else so thank you so much honorable Amalur sir Dr Kendra sir and Chetan Kumar sir for the nice questions and sharing some ideas regarding to the topic now I request the chief organizer of an internationally conference honorable Dr M betar sir to conclude the session please welcome sir mam who is assistant professor at ISM college bangaluru she have delivered just machine learning's contribution to the e-commerce this topic algorithm I was there I think uh uh mam sir all participant those who are joined here uh there are so many uh webinars I think we have done on the machine learning and also eCommerce but jointly how these two are related it was very cleared by you we examples when we uh go visit to the reviewers as you have said that if you buy some product who I wish to purchase then we go to the reviewers if the customers are satisfied then only we can uh do the purchasing or that Goods at the same time when we visit a website of ticket booking or any restaurant or anything so that comes upcoming to our search engine that you are interested to book that so all these machine learning as you said that we sh the data of consumers to the machine then machine identifies what the customer needs and they give the uh pops up the uh all the information to that person it is very easy because we already getting information from the machine so machine is doing so much work for us and in today's uh scenario you have displayed that graph which age uh is more contributing because of this so this is very useful because Young Generation want to uh parall compare the rates quality all these things and they try to purchase this thing but old days they following this uh traditional uh purchase visiting to the market and purchasing so nowadays e-commerce e marketing machine learning are very useful to all of us we have a choice of good product also with comparative rates and highly qualified product we can purchase from the market so uh this topic of machine learning is very contributing with e-commerce landscape uh we are understand today from your speech uh most of the things of that and uh in future also you'll be invited for such topics as per our because you are not new for this I think two to three this is my third session yeah yeah so in future also you'll be invited because this is very useful to the research uh because this conference is mostly for the teachers teachers are joining here mostly they are collecting data and they are sending uh researchers to this links also uh those who are interested to do the research they are following the resource persons also so this is the academic interchange of the knowledge through this platform thank you ma'am for the best speech I'm also thankful to dividas kendre sir he discussed today at the first time and I promote him to purchase more and more things uh using e-commerce uh so that this webinar will be more effective if you purchase more and more thing from online purchasing thank you sir thank you thank you thank you sir for your opportunities and thank you all uh for for asking the questions and making the session the wonderful session and very interactive session thank you thank you so much just wait for formal of thanks sonum do you want to say something sir yes sir yes yes please pan sirar sir eom you l cont research paper presentation person sir thank you so much for your because I'm not from Hindi background so but I could understand thank you so much for your valuable feedback thank you so much you understand three words one chitra then e-commerce then marke this you understand and also he want to share the link to the all student those who are in e-commerce uh so he is very satisfied with your speech is UN president from this be so we are thankful to you and thankful to Madam also because you understood three words okay okay sir thank you so much uh thank you sir and now I move towards the word of thanks as we know all the participants we are organizing an international e conference daily webinar at prompt time that 7 and might be you are leing some your works and join regularly so I'm very very thankful to you uh for today's session on the Das was honorable yes chitra maam we have thoroughly Insight over the topic that is machine learning's contribution to e-commerce landscape U ma'am have covered all the aspects what do you mean machine learnings then what do you mean e-commerce the potential of e-commerce with machine learning its role its impact then contribution of AI in e-commerce how can machine learning improve uh in e-commerce sales then the rise of machine learnings in e-commerce and also the future of e-commerce uh with giving many examples uh all the aspects like Market business Market baskets analysis Global e-commerce markets then the uh personalization and recommendations uh engines and also improving Supply chains GPS tracking Amazon and all these techniques then business to business Commerce and machine learnings all these aspects have thoroughly uh presented very well uh in a excellent way so I'm very very thankful to you Ma'am uh you accepted our invitation and joined to the session and delivered wonderful lecture so once again I'm very very thankful to you really it was very informative and knowledgeable session uh I thank the chief organizer of the series uh honorable drar sir also thanks uh Dr Amur sir Dr kendre sir also chattan Kumar sir and my friend Sonu Kumar sir though he is sometimes getting lately joined but always remarks in the best way so thank you so much to you all and I should not forget each and every participants who join the series regularly uh so thanks once again to you all kindly everybody are requested please fill the feedback link which is given in the chat box so with the kind permission of Chief organizer I declare today's session is over thank you so much bye-bye take care and again we are waiting to join tomorrow on the same time 7:00 most welcome thank you all onent I have I didn't even check that I have used Bo now after seeing the feedback only in one can join from Galaxy also if you change the background of Galaxy one can communicate from galaxy universe after the feedback only I check that I'm my background is set to thank you sir thank you for the opportunity given thank you all very nice ma'am thank you take care [Music] bye-bye I would like to congratulate ma'am uh Dr chitra ma'am I think she left uh uh the presentation was so beautiful so technologically proved uh I think the any Commerce students will love to see this presentation it was a very beautiful presentation and Madam did a very hard work to prepare those slides and all nomenclature terminology were presented in such a nice way I must congratulate so I request honorable principal betka to please pass this message to Bam that she was wonderful presentation uh did and did a very hard work for this presentation thank you yes sir for top thank you sir thank you for yourk good evening Dr Swan Shukla [Music] sir I'm
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