OLB Group to Provide AI-Based Analytics to Small- and Medium-Sized Merchants
The OLB Group, Inc. , a provider of cloud-based omnicommerce and payment acceptance solutions for small- and mid-sized merchants, announced that customers using its ShopFast service will have access to new customer analytic capabilities which can improve competitive positioning. ShopFast is the point-of-sale solution within OLB’s OmniSoft™ cloud-based business management platform, which provides merchants with seamless integration across all aspects of business operations.
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“Most large e-Commerce and brick-and-mortar merchants use advanced customer and sales analytics tools to increase customer engagement and sales, but the cost and complexity associated with these features have kept many small- and medium-sized merchants from following suit”
The analytics features will work as an extension to the ShopFast merchant dashboard by offering data-driven insights on customer buying and browsing patterns, inventory and business processes, and predictive analytics regarding additional consumer propensities and behaviors. Employing specialized artificial intelligence (AI) and machine learning (ML) algorithms and processes, this extension of ShopFast can put merchants on a more competitive footing with large retailers while helping them achieve a deeper and more comprehensive view of their own business.
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“Most large e-Commerce and brick-and-mortar merchants use advanced customer and sales analytics tools to increase customer engagement and sales, but the cost and complexity associated with these features have kept many small- and medium-sized merchants from following suit,” said Ronny Yakov, Chief Executive Officer of The OLB Group. “
Empowering merchants with solutions to better understand their customers’ behaviors can lead to operational efficiencies, improvements to loyalty and incentive programs, and provide data which can inform product selection decisions. OLB is keenly focused on empowering its merchants to effectively compete through efficient solutions which are easy to implement and use. We anticipate that this new capability will offer substantial benefits to our customers.”
The new analytics features will be available to all ShopFast merchants in the third quarter of 2021 at no additional cost.
