In 2018, we broke 4 billion users on the internet, with 3 billion users on social media. This means one thing — a lot of data. This volume of time spent online has led to an influx of visual content (social media posts, online transaction info, web browsing history, etc.). And as visual content becomes the preferred method of consumption among consumers, more and more brands are relying on image-based content vs. text-based.
This growth of visual content is injecting vast amounts of new data from UGC, social media and videos, all of which can be accessed and analyzed. For retailers, while the prospect of more consumer information provides great opportunities, sorting through all that information to understand what will garner the most valuable insight can be overwhelming. But with a new combination of both visual and data science models leading the charge in AI — which have the ability to analyze content as well as context — retailers can extract and leverage the most relevant information for future planning.
Read more at Forbes