Product Matching AI: The Secret Weapon Powering Successful ECommerce Teams | by IntelligenceNode Tech Blog | Oct, 2021

Shared By

Visit The Original Post

IntelligenceNode Tech Blog

Brands and retailers across the globe come to us looking for ways to turn mounds of competitive eCommerce data into intelligent, automated technology that helps them outperform the market. It is the holy grail that can make or break a retail business in the current climate. So how does a simple step like matching products with similar attributes fit into the larger picture?

Every retail technology you can think of runs on well-categorized product datasets. The quality of the product data being fed into pricing engines, marketing automation platforms, and inventory management systems is perhaps the most crucial factor setting leading online retailers apart from the rest. They are able to give frictionless experiences to their customers at every stage because of their ability to accurately match and group identical and similar products.

  1. Optimize product assortments with improved competitive insight.
  2. Avoid costly overstocking mistakes.
  3. Visibility from improved product targeting translates to better traffic and conversions.
  4. Access to product lifecycle data across the market helps you measure true product performance.

Product matching, when done right, builds a strong foundation for advanced retail applications. It is, however, becoming an increasingly challenging process thanks to the ever-growing volume of retail data from diverse sources across hundreds of marketplaces. Despite having universal product identifiers (like UPC, GTIN, or ASIN), there still is no standardized taxonomy for listing products on eCommerce websites. This creates enormous complexities when you need to identify and compare products and prices across multiple websites or when your customers are searching for specific product features. Inaccurate matches can lead to overstocking, pricing errors, merchandising blind spots, and a dismal shopper experience.

Your promotional strategies are based on your visibility into the competitive movements in the market. If your reports present an inaccurate picture of a product’s market performance you could be leaving money on the table or turning away shoppers hoping to snag a good deal.

Over time, product matching can help you align your product descriptions and categorizations based on historical search and sales performance and this will undoubtedly enrich your search engine performance. With the increased popularity of Google Shopping and other price comparison applications, having well-grouped products on your website means consumers are more likely to stumble across your products.

We at Intelligence Node have improvised and perfected our Product Matching solution to deliver real-time, accurately matched product datasets in configurable formats for your retail needs.

We achieve our accuracy by combining an attribute-based approach, AI Computer vision that compares digital images, and a configurable approach to ensure we mirror internal benchmarking methodologies. In scenarios where the confidence scores of the machine-driven matches are low, we have a team of Quality Assurance specialists who verify the output. Plus, we refresh our data as frequently as every 10 seconds so the insights you get are truly real-time and actionable!

Our AI-powered algorithms monitor websites around the world to help you find and compare branded or private label competitor products that are close or identical. With attribute standardization, our patented Similarity Engine ensures unbeatable accuracy and consistent matching performance across both private label and branded products. This also means our solution works just as well for soft categories (like beige bed linen or floral perfume) as it does for attribute-rich categories (like smartphones or toothpaste).

Find out how your team can leverage our Product Matching solution to achieve unprecedented retail growth and customer satisfaction. with one of our experts today!

Leave a Reply

Your email address will not be published. Required fields are marked *