Cognitive Computing in Retail
Added on 2020-12-09
12 Pages4376 Words135 Views
Business DevelopmentLeadership ManagementData Science and Big DataArtificial Intelligence
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Research Report
ContentsINTRODUCTION...........................................................................................................................1BODY..............................................................................................................................................1Business Process Management (BPM) with Cognitive Computing.......................................1Woolworths and Artificial intelligence..................................................................................5Coles and Cognitive Computing............................................................................................7CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONBusiness Process Management (BPM) has seen a significant transformation over lastsome decades. BPM is a discipline of operations management which is aimed at significantlymanaging the business processes and activities in order to ensure efficiency of operations andhigh speed performance. Some of the techniques that are widely used by business entities so asto ensure effectiveness and efficiency across all the activities and processes of organisation aremachine learning, cognitive computing (inclusive of Artificial Intelligence), LanguageProcessing, Retention Learning etc. This research paper is based upon Woolworths Supermarketswhich is an Australian grocery store chain which is owned and run by Woolworths Limited andwas found in 1924.This organisation possesses specialisation in product segments such as sale ofgroceries (packaged food, vegetables, meat, fruits etc.), DVDs, stationery items, magazines,household products, health & beauty products and pet and baby supplies. At present thisorganisation is operating across around 1000 stores within Australia inclusive of 976Supermarkets as well as 19 convenience outlets. The organisation also has an online presencewith the name of Woolworths Online (at Woolworths.com.au) which is basically a “click &collect” and home shopping delivery service which was originally renowned as "HomeShop".This company is implementing Artificial Intelligence (part of Cognitive Computing). Thepurpose of this research is to take into the process of Artificial Intelligence and itsimplementation across the organisational premises with a view to look into the issues of businessprocess management that this technique possesses the ability to create solutions for.BODYBusiness Process Management (BPM) with Cognitive ComputingBusiness process management refers to the process in which companies mainly evaluates,develops, edits and predicts overall process that will help company in enhancing businessgrowth. It can be seen as the process or sequence of tasks that are essential for company toperform in order to attain their business objectives in effective manner. This can be wellunderstood with the help of example i.e., Goods which are purchased by customers are result ofvarious business processes that are executed or completed by different business companies.According to the thoughts presented by Storey and Song (2017), it can be said that businessprocess is neither related to task management nor its a part of project management. The author1
have further represented that Business process management (BPM) is mainly centric towardsongoing and repetitive processes which basically follows process management and predictablepattern. An effective usage of business process management is helpful for company in enhancingtheir productivity, consumes less time in execution of work, reduces chances of mismanagement,motivates employees, manages documentation in company and many other works. It can be said that if an organisation is having good business process management then itis helpful for them in sustaining longer at market place and raise their profit margins withminimal issues or conflicts. With the changing time, it has been realised if business processes arenot managed in effective manner then it might develop vast range of problems for company.Some of its main problems and issues that are raised due to ineffective business process includesno solution of problem as it is tool which can be used by employees to resolve problems,deficiency of assignment of responsibilities, the process is too lengthy which might developsituation of forgotness from employees side as they are not able to remember each and every stepof process. In order to overcome these issues or problems, top management of staff or otherauthorised people of companies focus on adopting other technology for the purpose of reducingits effect on business growth of companies. Cognitive technology is considered as the besttechnology which ultimately helps companies in overcoming negative impact of ineffectivebusiness process execution at workplace. This technology basically helps companies byreplacing work of human being with robots. These technologically updated robots are fullyprogrammed and own capability of performing similar kind of work like human basedemployees in order to reduce chances of mistakes that are conducted by them.In today's era where technology is completely transformed, the role of cognitivecomputing is very important and necessary to make the business process management moreeffective and productive. As per the views of Glykas (2013), this is a kind of system which usescomputerized models in order to stimulate a level of human cognition process to find effectivesolution in very critical and complex situation. It refers to new software or hardware whichimitates functions of human brain and thereby assists in improvisation of decision making.Basically, it is a scientific discipline which is based on signal processing and artificialintelligence. It aggregates speech, vision, natural language processing, human computerinteraction, reasoning and machine learning. Furthermore, it makes use of adaptive page displaysand data analysis by which content can be adjusted as per specific person. It was designed to2
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