Holiday decor retailer Balsam Brands analyzes data with generative AI
A leading global provider of artificial Christmas trees is creating detailed data models with advanced artificial intelligence.
Direct-to-consumer online holiday decor retailer Balsam Brands is deploying the AI-based SoundCommerce retail data platform to unify and catalog its data for AI modeling, cross-functional business analytics, and customer activation.
Balsam Brands intends to streamline the process of of integrating and hosting business data for generative AI large language models (LLMs), such as Snowflake Cortex and Google Gemini on the Google Cloud Vertex AI machine learning platform.
The online retailer will gain business-ready, direct-to-consumer e-commerce data models rendered and populated with validated data directly in its Snowflake tenancy SaaS platform. Ready-to-go data models will be available in the retailer’s Snowflake data cloud for immediate analysis.
Specifically, Balsam Brands will harness and analyze performance data on Google Ad Words, Google Analytics, Pinterest, Meta and TikTok and orders every 30 minutes to get a near real-time understanding of sales, cost of order handling, cost of customer acquisition, and cost of shipping to tabulate profit margins and make changes on the fly.
Data will be channeled to the Snowflake cloud data warehouse, for customer segmentation, marketing automation, business intelligence and analysis and AI and enterprise downstream applications. As a result, Balsam Brands seeks to obtain improved insights in the areas of shopper experience and business performance across its flagship direct-to-consumer commerce business, as well as operations with key retailers such as Nordstrom, as it continues to grow.
"At Balsam Brands, we know the importance of using trustworthy data to drive world-class experiences for customers and better company performance," said Balsam Brands CTO France Roy. "With SoundCommerce and Snowflake, we’re building future-proof data infrastructure for machine learning, advanced analytics and data activation. The goal is to make the data and the tools easy and effective for every business stakeholder across our company."
"Balsam Brands sees data capability as a key driver of business performance and competitive advantage," said Eric Best, SoundCommerce founder and CEO. "With SoundCommerce and Snowflake, Balsam Brands can tap new insights and act on data in new and more automated ways, and a culture of data visibility, transparency, and trust. We look forward to accelerating Balsam Brands’ adoption and use of Snowflake at the center of the modern data stack."
Balsam Brands utilizes AI in pricing
Balsam Brands is not a newcomer to the world of AI-based optimization. The retailer has also utilized demand-driven price reduction recommendations created by Competera's trainable AI models.
A customized ERP platform enabled the company can automate weekly repricing, carry out price adjustments following the sales plan, and make data-driven pricing decisions. To make the best offer to its customers, Balsam Brands could consider a variety of pricing and non-pricing factors, such as website analytics and market trends, the latest sales data, price ladders, smart business constraints, and price rounding rules.