In the dynamic world of online retail, every moment counts, and delays in getting products online can feel like missed opportunities for businesses. Brands, retailers, and marketplaces often struggle with the challenge of adding the essential touches – the right metadata, compelling product descriptions, and overall generate the product details pages that sell. In this article, we explore the concept of Product Data Enrichment and introduce Velou's innovative solution designed to simplify and improve this process.

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1. The opportunity you might not have considered

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Since online commerce began, ecommerce teams have dedicated a large amount of time and energy managing their catalogs and completing product data manually. However, when looked at from today’s perspective, there are challenges associated with this approach that often go unnoticed. What if there's already a new tool available to support them?

Let's explore the obstacles that teams face when they're in charge of handling product data and catalogs manually:

Time Delay: Retailers lose money for every second a product is not online after it's ready. The manual entry process is time-consuming, causing delays in getting products to the online store promptly.

Inconsistent Data Entry: Manually entered descriptions may not be consistent, lack some details, and occasionally contain errors as teams apply their personal understanding of the product.

Unstructured Data: Often, the details about products, like their titles and descriptions, aren't neatly organized. This poses a challenge because ecommerce platforms thrive on structured data. The algorithms powering features like search tools, recommendation systems, and filters perform best when the data is well-organized and easy to understand. This difficulty can lead to missed opportunities for retailers.

In today's world, when we all aspire to progress quickly and achieve more than yesterday, modern technologies, and especially AI, play a crucial role in facilitating this. With ongoing technological advancements, there are opportunities to enhance efficiency and freedom, allowing us to focus on creative tasks and decision-making. Perhaps, now the right time to seize this chance?

Let's delve into how AI can improve day-to-day experience of eccomerce teams.

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2. Velou's Solution: Intelligent Product Data Enrichment‍

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Meet Velou's game-changing Product Data Enrichment solution that's breaking new ground in the world of online shopping. This AI platform is designed specifically for ecommerce is not just any GenAI tool. Imagine a savvy assistant that helps you to avoid repetitive tasks that require a lot of effort and allows you to preserve your creativity and expertise for more engaging endeavors. How? By using the latest tech – machine learning (ML) and artificial intelligence (AI).

Retailers can now effortlessly display their products online, and not just quickly — think lightning speed! Velou ensures that the process is not only fast but also consistent and well-organized. It's like having an additinal backstage crew that makes sure everything runs smoothly.

“The biggest advantage of using Velou was their data enrichment solution, adding attributes to all of our products, due to the volume of products that we add on a daily basis.” -  explains Sagi Cohen, Product Owner at Everything5Pounds.com

Certainly, the surge of marketlaces and resale platforms has brought forth thousands of products that need daily online listing, demanding considerable time and effort. Wouldn't it be more beneficial to focus on your KPIs instead?

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3. Key Areas of Product Data Enrichment:

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This is how Velou extracts information and molds it into well-organized product data:

AI-powered Image Recognition: At Velou, we've equipped our system with cutting-edge computer vision models that are finely trained for different industries. This allows us to provide a deeper, more meaningful understanding of products, something we like to call "Product Intelligence." Using smart algorithms and machine learning, our system recognises and understands various product details in the images. This unique capability enables us to carefully scrutinize product images and labels, providing a richer and industry-specific insight into the content.

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AI Text Recognition: Velou uses a branch of artificial intelligence called Natural Language Processing (NLP) to carefully analyze the textual descriptions that come with a product. This allows Velou to understand the meaning, pick out important details, and create descriptive tags that highlight the product's essence.

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4. Streamlining Retail Operations

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Velou's Product Data Enrichment directly addresses the challenges faced by brands, retailers, and marketplaces in the entry and management of product information.

Time Efficiency: Automation significantly reduces the time needed to create metadata, enabling products to be online faster. With Velou's AI, products can go online 23 times faster compared to manual processes.

Consistency: Standardized metadata ensures consistency and accuracy in product information. By implementing Velou's innovative solution, ecommerce teams experience a 98% reduction in errors, marking a significant leap forward in the quest for seamless, error-free product data.

Structured Data: Velou's solution converts unstructured data into a format suitable for ecommerce algorithms, enhancing their functionality. This optimization improves the efficiency of algorithms in tasks like search, recommendations, and filtering on ecommerce platforms.

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5. In Conclusion

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Velou's innovative approach to Product Data Enrichment addresses critical challenges associated with time and quality in retail operations. This encompasses the time-consuming nature of manual tasks and concerns regarding the accuracy and reliability of these processes. By harnessing the power of AI, machine learning, and expert knowledge, Velou not only resolves current issues but propels retail operations into a new era of efficiency.

With Velou's solution streamlining product displays for retailers, optimizing online visibility and revenue potential becomes a reality. But what if this solution extends beyond? Stay tuned for our next article, where we delve into the transformative capabilities of AI in retail, specifically exploring the intriguing world of semantic search guided by Velou's cutting-edge technology.

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