{"id":70,"date":"2020-09-17T21:34:40","date_gmt":"2020-09-18T01:34:40","guid":{"rendered":"https:\/\/digital.hbs.edu\/platform-hbapideation\/submission\/smart-cart\/"},"modified":"2020-09-17T21:36:32","modified_gmt":"2020-09-18T01:36:32","slug":"cart-optimization-ai-solutions-for-the-customer-total-cart-budgeting-to-match-your-preference","status":"publish","type":"hck-submission","link":"https:\/\/d3.harvard.edu\/platform-hbapideation\/submission\/cart-optimization-ai-solutions-for-the-customer-total-cart-budgeting-to-match-your-preference\/","title":{"rendered":"CART OPTIMIZATION \u2013 AI Solutions for the Customer \u2013 Total Cart Budgeting to match YOUR preference!"},"content":{"rendered":"<h1><strong>Value Proposition (or Business Model):<\/strong><\/h1>\n<ul>\n<li>\n<h4>Optimized decision making via AI is an unexplored territory today.\u00a0 AI solutions that can help us make the optimal decision based on our lifestyle is not available anywhere in the world today but it is a real issue.\u00a0 People spend hours browsing through catalogs and compare across multiple sites just to get the right product.\u00a0 Having a product that can do this hard work for you is something that is going to help save a lot of time and money for many.<\/h4>\n<\/li>\n<li>\n<h4>Today we go to shopping sites and add items to our cart AFTER browsing through thousands of items trying to find the right gift for your child&#8217;s friends birthday party!\u00a0 and end up with a cart that is likely not the most optimal combination of what you <em>could<\/em> have added to your cart.\u00a0 \u00a0There is a solution.<\/h4>\n<\/li>\n<li>With Optimal Cart, we take the REVERSE approach!\u00a0 How?\u00a0 The App starts by asking your budget:\n<ul>\n<li>What is your budget? $25, $50, etc.<\/li>\n<li>What items do you need?\u00a0 Do you need to buy gifts for someone?\u00a0 Is it for your grandparent?\u00a0 Is it for your cranky nephew who is sooo picky?\u00a0 How old is your nephew?\u00a0 Do you only want premium quality?<\/li>\n<li>Based on the criteria provided, the Optimal AI model will go and find the best combination based on the criteria you provided and still stay within your budget!\u00a0 Sentiment and Budget in ONE cart!<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-78\" src=\"http:\/\/d3.harvard.edu\/platform-hbapideation\/wp-content\/uploads\/sites\/33\/2020\/09\/Ideation_SpecifyCriteria-2.png\" alt=\"\" width=\"485\" height=\"807\" srcset=\"https:\/\/d3.harvard.edu\/platform-hbapideation\/wp-content\/uploads\/sites\/33\/2020\/09\/Ideation_SpecifyCriteria-2.png 485w, https:\/\/d3.harvard.edu\/platform-hbapideation\/wp-content\/uploads\/sites\/33\/2020\/09\/Ideation_SpecifyCriteria-2-180x300.png 180w, https:\/\/d3.harvard.edu\/platform-hbapideation\/wp-content\/uploads\/sites\/33\/2020\/09\/Ideation_SpecifyCriteria-2-361x600.png 361w\" sizes=\"auto, (max-width: 485px) 100vw, 485px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><strong>This is what exists today:<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-71\" src=\"http:\/\/d3.harvard.edu\/platform-hbapideation\/wp-content\/uploads\/sites\/33\/2020\/09\/Ideation_SelectionScreen-1.png\" alt=\"\" width=\"484\" height=\"803\" srcset=\"https:\/\/d3.harvard.edu\/platform-hbapideation\/wp-content\/uploads\/sites\/33\/2020\/09\/Ideation_SelectionScreen-1.png 484w, https:\/\/d3.harvard.edu\/platform-hbapideation\/wp-content\/uploads\/sites\/33\/2020\/09\/Ideation_SelectionScreen-1-181x300.png 181w, https:\/\/d3.harvard.edu\/platform-hbapideation\/wp-content\/uploads\/sites\/33\/2020\/09\/Ideation_SelectionScreen-1-362x600.png 362w\" sizes=\"auto, (max-width: 484px) 100vw, 484px\" \/><\/p>\n<h3>Value Capture:<\/h3>\n<p>Every time a customer makes a purchase, there would be a commission made off of the amount that was purchased.<\/p>\n<h2>Operating Model<\/h2>\n<ul>\n<li>\n<h3>Structure:<\/h3>\n<ul>\n<li>Buyers<\/li>\n<li>Sellers<\/li>\n<li>Marketplace platforms like Amazon, Instacart etc.<\/li>\n<li>Plug-in<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3>Processes:<\/h3>\n<ul>\n<li>TBD<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3>Assets:<\/h3>\n<ul>\n<li>Technology<\/li>\n<li>NLP Based AI models<\/li>\n<li>Product Strategy<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3>Network Effects\/Multi-Homing:<\/h3>\n<p>This is not a platform.\u00a0 This is a product which people can install on their browser.\u00a0 Amazon\/Google can partner here to add this product\/plug-in to their sites to offer this to customers.\u00a0 There are high indirect and direct network effects.\u00a0 There is a low barrier to multi-homing as many others will try to create similar models and enter the market.\u00a0 The Key goal here to stay competitive is to offer differentiated optimization in various markets with various competitive product streams (for instance, a customer can look to work within a budget or they want the plug-in to tell them which store to buy from which can get them to spend the least amount of money.)<\/p>\n<h4>Customer:<\/h4>\n<p>The Customer is anyone who wants to buy things online and in person.\u00a0 The product will give you the best priced items and let you know which store to pick up the products from if you prefer to buy in person rather than online.<\/p>\n<h4><em>TEAM:\u00a0 COHORT # 9.\u00a0 <\/em><\/h4>\n<p><em>Special Thanks to Cohort # 9 for being the CROWD for this idea of mine and letting me streamline my thoughts before submitting this pitch!<\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Optimal Cart Budgeting for customers.  A tool to help families live within Budget.  How how many times have you added items to your cart only to pay more than you initially thought you would?  How nice would it be to let a product get you the items you need within your budget rather than you having to pay extra during checkout?<\/p>\n","protected":false},"author":13545,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","categories":[],"class_list":["post-70","hck-submission","type-hck-submission","status-publish","hentry"],"connected_submission_link":"https:\/\/d3.harvard.edu\/platform-hbapideation\/assignment\/ideation-journey-submissions\/","_links":{"self":[{"href":"https:\/\/d3.harvard.edu\/platform-hbapideation\/wp-json\/wp\/v2\/hck-submission\/70","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/d3.harvard.edu\/platform-hbapideation\/wp-json\/wp\/v2\/hck-submission"}],"about":[{"href":"https:\/\/d3.harvard.edu\/platform-hbapideation\/wp-json\/wp\/v2\/types\/hck-submission"}],"author":[{"embeddable":true,"href":"https:\/\/d3.harvard.edu\/platform-hbapideation\/wp-json\/wp\/v2\/users\/13545"}],"replies":[{"embeddable":true,"href":"https:\/\/d3.harvard.edu\/platform-hbapideation\/wp-json\/wp\/v2\/comments?post=70"}],"version-history":[{"count":5,"href":"https:\/\/d3.harvard.edu\/platform-hbapideation\/wp-json\/wp\/v2\/hck-submission\/70\/revisions"}],"predecessor-version":[{"id":83,"href":"https:\/\/d3.harvard.edu\/platform-hbapideation\/wp-json\/wp\/v2\/hck-submission\/70\/revisions\/83"}],"wp:attachment":[{"href":"https:\/\/d3.harvard.edu\/platform-hbapideation\/wp-json\/wp\/v2\/media?parent=70"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/d3.harvard.edu\/platform-hbapideation\/wp-json\/wp\/v2\/categories?post=70"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}