As we all know that artificial Intelligence is slowly slowly becoming the most important and most integral part for the small to big businesses. It helps the business from the purchase of a product or manufactures the products to deliver the product to the client or customers. Here we have come with a small analysis of big business Company named coca cola and you also get to know that how they using AI to be on the top of the table in high competitions. So the coca cola is now the world’s biggest beverage company as they sell around 2 billion drinks every day. They own over 500 brands like Diet Coke, Coke Zero, Powerade, Sprite, Fanta, and Minute Maid.
Artificial Intelligence Services and Big Data give exceptional power to anything that the Business does. Once Greg Chambers said that AI is the foundation for anything we do. Artificial Intelligence is the kernel that gives the boost that experience.
How artificial Intelligence is helping to solve the problem?
As per the R&D, we got information that is sold in over 200+ countries. So the marketing of this product is not a small task. Each companies market has its own local differences regarding flavors, sugar, calories, marketing preferences. The brand has to face these things.
So to be on the top of the table in all the territory they must need to collect and analyze the big amount of data to get information about which of their 500 brands are likely to be more in demand or not.
How is artificial Intelligence used in practice?
Coca-cola serves a huge number of beverages every day through vending machines. Here, Coca-cola brings new machines and customer will interact through a touch screen. This allows the user to select the product they are looking for and even the customize it with some of the different flavors. So the coca cola has started fitting these vending machines with Artificial Intelligence algorithms allow them to promote drinks and flavors that are more in demand in the specific locations where the machines are installed.
Those vending machines can even alter their displaying behavior depending on the location where they are placed. Like the machines is in a shopping mall the theme is a colorful and fun persona, then another side in the gym then that theme is more focused on sporty and performance achieving and if a machine is in a hospital than it appearing more functional.
The company coca-cola also uses Artificial Intelligence services to analyze the social media platforms and get the information that where when and how their customers like to buy its products. They also get the information that which products are high in demand in specific location or localities. Through the information, we got the information that over 91% of customers are purchasing the products based on social media content.
Understanding how its consumers are discussing and interacting with the brand on social platforms like Facebook, Instagram, LinkedIn, Twitter is more important to its marketing strategy. To perform this company analyzed the engagement with over 130,000 pieces of social content to understand consumer behavior. Coca-cola is using Artificial Intelligence in one another way in securing proof of purchase for the company’s prizes and offers. We all are known the offer in which customer has to send product code to verify their purchase. Through that, the company gets information about which product is selling more compare to others.
Which tech and tools are used?
The company coca-cola gets the data on local preferences through the interfaces on the vending machines. Did you know more than 1.2 millions of them are installed in Japan only.
To examine how Coca-Cola’s products are discussed and engaged on social platforms, Coca-cola has set over 35+ social centers to collect data and analyze it for insights using the Salesforce software. Their aim is to generate more effective and useful content for generating more positive and useful engagement. Before this AI the process of optimizing the content was gathered by the human itself. So that the coca-cola is desperately looking for creating an automated system that creates social content as per the social data.
The company uses the image recognition technology to find and target the users who share photos on social platform founding that they might be the potential buyers.
Let’s take one example of the strategy: Once the audience through the advertisement for its new brand of iced tea. In that, those who uploaded the images that suggested they enjoy the tea, or in which the image recognition algo. Spotted the logos of competing brands. After running the algorithm and finds that specific person is likely to be the fan of the iced tea and also an active member of the social platforms who shared photos with their connections, the company knows that targeting these type of user helps more to adverts the products within the efficient advertising budget.
What’re the results?
Data analysis from the vending machines by artificial intelligence allows the coca-cola company to understand the buying habits of millions of customers all over the globe.
This data will use to take new product decisions to let’s take an example, the decision to launch the Cherry sprite soft drink as a product in the USA was taken because the data showed that this product can win the initiative and sales. Key Challenges
- If the sales have occurred hundreds of different products around the globe, Customer behavior is different from market to market Understanding these differences helps tailor specific messages for different markets, rather than relying on a one size fits all approach.
- When dealing with international brands, use the data from social media or generated through the own system such as vending machines are big and messy. Artificial intelligence provides a viable method of drawing data and insights.
- Image processing and recognizing tools can analyze millions of social posts to help a brand understand and also helps to find when how and by whom the products are enjoyed.
- As well as making marketing decisions, brands that are fully invested in AI are beginning to use it for designing new products and services.
As we got the information from the above analysis of coca-cola that Artificial Intelligence is so much important for any small to big businesses to get the information about the products demographic demand, products online demand, products survey, products analysis, and many more things. Through that data we can make changes in our production, we can change our product style, product’s location to increase the sales.