ChatGPT and Mobius in Tandem: Harnessing the Power of Real-Time Consumer Data and AI
Welcome to the first installment of our exciting new series — a journey into the remarkable intersection of artificial intelligence, real-time spending data, and deep-dive consumer insights.
Today, the Facteus team sets out to demonstrate the transformative potential of marrying OpenAI's pioneering technology, GPT, with Facteus' comprehensive consumer spending data, to create our data-enhanced AI, Mobius.
At Facteus, we have nothing but respect and admiration for the capabilities of ChatGPT, a model that has revolutionized the way we think about AI and text generation. It's important to note that Mobius is not a competitor to ChatGPT, but rather an evolution, as it’s built on the solid foundations of ChatGPT, enhanced by a direct connection to rich, real-time data.
In this inaugural post, we venture into the world of retail, a sector that thrives on the pulse of consumer behavior. Imagine being part of a large U.S. retailer, with a keen desire to delve into the competition's retail shopping data and performance metrics. What insights could the data-enhanced AI, Mobius, provide to help steer strategy and decision-making?
In the subsequent posts of this series, we'll dive into different verticals and use cases. For now, let's start with an exploration of how AI, when married to vast datasets of consumer transactions, can provide profound insights and transform the competitive landscape. Welcome to the exciting world of AI-powered, data-enhanced insights with Mobius!
? QUESTION: What does average ticket price by millennials look like at Amazon compared to Walmart for the last year broken out monthly?
MOBIUS: The data shows the average spend per transaction for Millennial shoppers at Amazon and Walmart between January 2022 and December 2022. The average spend per transaction for Amazon was $29.40 and for Walmart was $62.18 in January 2022. This increased to $34.71 and $73.70 respectively in December 2022.
Source: Facteus’ panel of over 100M U.S. consumer debit & credit cardholders
ChatGPT: I'm sorry for the misunderstanding, but as an AI developed by OpenAI, I don't have the ability to access real-time or specific data. My capabilities are designed around providing information and insights based on the knowledge I was trained on, up until my last training cut-off in September 2021.
Therefore, I don't have the capacity to provide the average ticket price by millennials at Amazon compared to Walmart for the last year broken out monthly, or any real-time data or specific data from companies or individuals. I recommend consulting publicly available resources, company reports, or directly reaching out to Amazon and Walmart for the most accurate and up-to-date information.
? QUESTION: What does Walmart spending by generation look like from last year?
MOBIUS: The data shows total spending of Walmart customers across five shopper generations from January 2022 to December 2022. The Silent Generation spent $606,613,209.65, Generation X spent $3,568,712,386.23, Millennials spent $4,323,356,814.19, Generation Z spent $1,675,326,315.23, and Baby Boomers spent $3,350,122,681.47.
Source: Facteus’ panel of over 100M U.S. consumer debit & credit cardholders
ChatGPT: I'm sorry for any confusion, but as an AI, I don't have access to up-to-date or specific datasets such as spending data by generation at Walmart for the last year. I was trained on a diverse range of data sources, including books, websites, and other educational material available up to September 2021.
However, generational spending at large retailers like Walmart tends to follow broader economic and demographic trends. For instance, older generations such as Baby Boomers and Generation X, who generally have more disposable income, might spend more on average than younger generations like Millennials and Generation Z. The specific categories of goods they purchase may also vary, with younger generations potentially spending more on tech and fashion, while older generations might spend more on home goods, health care items, and groceries.
For the most accurate and current information, I recommend seeking out market research data or reports directly from Walmart or credible market research firms. These reports often provide detailed breakdowns of spending by different demographic groups.
? QUESTION: What does spending by millennials look like by region at
Target for the last year?
MOBIUS: The data shows total spending of Millennials on Target brand products in the US for the year 2022, broken down by region. The regions are West, Midwest, South, and Northeast. The total spending for the West region was $157,104,813.04, for the Midwest region was $216,126,612.93, for the South region was $200,577,492.28, and for the Northeast region was $115,472,078.24.
Source: Facteus’ panel of over 100M U.S. consumer debit & credit cardholders
ChatGPT: As of my last training data in September 2021, I don't have access to real-time, proprietary, or specific datasets, such as regional spending by Millennials at Target for the past year. I'm unable to provide the exact information you're looking for because my design is based on providing information and insights derived from the general data I was trained on, rather than access to specific databases or live data feeds.
For the most precise and up-to-date insights, I suggest consulting recent market research reports, reaching out to Target directly if you have an appropriate business context, or using publicly available financial disclosures from the company. Such sources can provide a wealth of data about consumer behavior, including demographic spending patterns.
Generally speaking, consumer spending can be influenced by a variety of factors, including regional economic conditions, the distribution of retail locations, and individual consumer preferences, among other things. The patterns of millennial spending at Target would likely reflect these broader trends. For example, regions with more millennial residents and a higher cost of living might see higher overall millennial spending. But for the specific details, you'd need up-to-date, specific data.
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