{"id":39324,"date":"2022-01-27T15:38:58","date_gmt":"2022-01-27T15:38:58","guid":{"rendered":"https:\/\/staging.consileon.de\/maschinelles-lernen-im-handel-heute-und-morgen\/"},"modified":"2022-03-25T13:03:43","modified_gmt":"2022-03-25T13:03:43","slug":"machine-learning-in-trade-today-and-tomorrow","status":"publish","type":"post","link":"https:\/\/www.consileon.de\/en\/blog\/2022\/01\/27\/machine-learning-in-trade-today-and-tomorrow\/","title":{"rendered":"Machine learning in retail: today and tomorrow"},"content":{"rendered":"\n<p>How many mixed rye breads should a bakery chain bake next Monday? Ideally, every customer gets the bread of their choice without a loaf left over. Many factors go into the calculation, including sales the previous week, whether next Monday is a vacation, or whether the bread is currently being advertised. Translating them into input values for a computer program, it can calculate demand in several ways, for example:<\/p>\n\n\n\n<h5 class=\"wp-block-heading\" id=\"h-weight-the-factors-and-add-up\"><strong>Weight the factors and add up<\/strong><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li>Initial value: sales last Monday<\/li><li>if vacations, then minus 10 loaves<\/li><li>if advertising, then plus 20 loaves<\/li><li>1., 2., 3. \u2026<\/li><\/ul>\n\n\n\n<h5 class=\"wp-block-heading\" id=\"h-consider-all-cases-individually\"><strong>Consider all cases individually<\/strong><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li>1st method: Weight the factors and sum them up.<\/li><li>2nd method: Consider all cases individually<\/li><li>if vacations and advertising, then plus 7 loaves of bread<\/li><li>1., 2., 3., \u2026<\/li><\/ul>\n\n\n\n<p>The prediction becomes more accurate the more data is included, e.g. also the Monday rye mixed bread sales curve of the last years. The program learns from such data &#8211; hence the term <a href=\"https:\/\/en.wikipedia.org\/wiki\/Machine_learning\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>machine learning (ML).<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>End-to-end digitization requires machine learning. Research, technology and practical experience now make it possible. Learn more in this article.<\/p>\n","protected":false},"author":3,"featured_media":37238,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"image","meta":{"_acf_changed":false,"footnotes":""},"categories":[15,88,76],"tags":[],"class_list":["post-39324","post","type-post","status-publish","format-image","has-post-thumbnail","hentry","category-news","category-publications-en","category-software-development-en","post_format-post-format-image"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.5 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Machine learning in retail | IT &amp; Management Consulting | Consileon<\/title>\n<meta name=\"description\" content=\"&quot;End-to-end digitization requires machine learning. Research, technology and practical experience now make it possible.&quot;\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.consileon.de\/en\/blog\/2022\/01\/27\/machine-learning-in-trade-today-and-tomorrow\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Machine learning in retail: today and tomorrow\" \/>\n<meta property=\"og:description\" content=\"&quot;End-to-end digitization requires machine learning. Research, technology and practical experience now make it possible.&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.consileon.de\/en\/blog\/2022\/01\/27\/machine-learning-in-trade-today-and-tomorrow\/\" \/>\n<meta property=\"og:site_name\" content=\"Consileon Business Consultancy GmbH | Management- und IT-Beratung\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-27T15:38:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-25T13:03:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.consileon.de\/wp-content\/uploads\/2022\/01\/Screenshot-2022-01-27-143609.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1192\" \/>\n\t<meta property=\"og:image:height\" content=\"710\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Tobias Leibach\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tobias Leibach\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.consileon.de\\\/en\\\/blog\\\/2022\\\/01\\\/27\\\/machine-learning-in-trade-today-and-tomorrow\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.consileon.de\\\/en\\\/blog\\\/2022\\\/01\\\/27\\\/machine-learning-in-trade-today-and-tomorrow\\\/\"},\"author\":{\"name\":\"Tobias Leibach\",\"@id\":\"https:\\\/\\\/www.consileon.de\\\/#\\\/schema\\\/person\\\/d0f45c7153ec976f636528785665458c\"},\"headline\":\"Machine learning in retail: today and tomorrow\",\"datePublished\":\"2022-01-27T15:38:58+00:00\",\"dateModified\":\"2022-03-25T13:03:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.consileon.de\\\/en\\\/blog\\\/2022\\\/01\\\/27\\\/machine-learning-in-trade-today-and-tomorrow\\\/\"},\"wordCount\":162,\"image\":{\"@id\":\"https:\\\/\\\/www.consileon.de\\\/en\\\/blog\\\/2022\\\/01\\\/27\\\/machine-learning-in-trade-today-and-tomorrow\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.consileon.de\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/Screenshot-2022-01-27-143609.png\",\"articleSection\":[\"News\",\"Publications\",\"Software development\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.consileon.de\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.consileon.de\\\/en\\\/blog\\\/2022\\\/01\\\/27\\\/machine-learning-in-trade-today-and-tomorrow\\\/\",\"url\":\"https:\\\/\\\/www.consileon.de\\\/en\\\/blog\\\/2022\\\/01\\\/27\\\/machine-learning-in-trade-today-and-tomorrow\\\/\",\"name\":\"Machine learning in retail | IT & Management Consulting | Consileon\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.consileon.de\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.consileon.de\\\/en\\\/blog\\\/2022\\\/01\\\/27\\\/machine-learning-in-trade-today-and-tomorrow\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.consileon.de\\\/en\\\/blog\\\/2022\\\/01\\\/27\\\/machine-learning-in-trade-today-and-tomorrow\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.consileon.de\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/Screenshot-2022-01-27-143609.png\",\"datePublished\":\"2022-01-27T15:38:58+00:00\",\"dateModified\":\"2022-03-25T13:03:43+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.consileon.de\\\/#\\\/schema\\\/person\\\/d0f45c7153ec976f636528785665458c\"},\"description\":\"\\\"End-to-end digitization requires machine learning. 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