Premise Unveils "Prime": A Breakthrough Solution Transforming Retail Data Insights

NEW YORK, Dec. 19, 2024 /PRNewswire/ -- Premise, a leading provider of traditional trade insights and analytics solutions, has announced the launch of Prime, an advanced data collection tool designed to revolutionize retail insights. With innovative features aimed at bridging retail practices and consumer behavior, Prime is set to redefine how businesses interpret and act on market information.

Developed by Premise's Chief Technology Officer, Paul Huang, Prime addresses the unique challenges retailers face when executing campaigns in today's dynamic market. "Retailers must navigate factors ranging from audience preferences to trends and popular culture," said Huang. "Prime delivers reliable insights and actionable recommendations to enhance the retail experience, including guidance on product placements and customer behavior insights that directly drive sales."

Prime captures and analyzes the complex relationships among traditional trade stores, their attributes, geographical factors, and the products they carry. Operating at scale, Premise now conducts over 120,000 traditional trade store visits monthly—a number that continues to grow rapidly.

"Prime drives data interconnectivity and accessibility," Huang explained. "It enables sophisticated analysis and interpretation, moving beyond data collection to delivering more accurate, granular, and actionable intelligence."

Built on Premise's proven global data platform, Prime standardizes data collection to ensure consistent, accurate insights across regions. The integration of a comprehensive product catalog library further enhances its ability to deliver meaningful, regionally tailored insights.

Leveraging Computer Vision technology, Prime offers real-time detection of products and brands, providing immediate insights into product placements, shelving conditions, and inventory levels. These actionable analytics empower retailers to optimize strategies and respond quickly to changing market demands.

Premise is also exploring the use of AI and Large Language Models (LLMs) to identify emerging patterns and trends that may be overlooked. The integration of LLMs also allows for more intuitive interactions with the large volumes of complex data, providing valuable insights that can shape future marketing strategies and drive success.

Currently live across all of Mexico, Prime is set to expand globally in Q1 2025. As part of its roadmap, Premise plans to introduce machine learning algorithms for predictive analytics, enabling retailers to anticipate inventory demands, market fluctuations, and consumer preferences with greater accuracy.

Founded over a decade ago, Premise has consistently delivered innovative solutions that empower businesses with actionable data. Recognized by Deloitte's Fast 500, the company remains at the forefront of market research and analytics, shaping the future of the retail industry with platforms like Prime.

About Premise

Premise is a global data and analytics company that disrupts the status quo of the legacy insights providers. It helps organizations gain insights and make better decisions through advanced technology and on-the-ground data collection. With a presence in over 140 countries, Premise delivers fast and actionable data to its users, empowering them to stay ahead in a rapidly changing world.

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SOURCE Premise