Managed Analytics Leader Combines External Product Intelligence With Internal Client Data to Enable Retailers to Make More Informed Product Category Decisions
NEW YORK, Feb. 17, 2016 /PRNewswire/ -- Ugam, a global leader in managed analytics, today announced an enhanced version of its Assortment Intelligence solution that incorporates client data to help improve buying, planning and merchandising decisions within product categories. The new offering helps category managers better understand assortment gaps, identify trending and high-demand products, and optimize conversion rates for key products.
Analyst firm IDC recently examined Ugam's Assortment Intelligence solution in a report titled: Perspective: Outside-In Analytics — Market, Competitor, and Customer Insight for Better Planning, Assorting, and Buying. In the report, Program Director, Merchandise Strategies, Greg Girard wrote, "Ugam's customers use product intelligence to put market-aware guardrails around their assortment, pricing, and content tactics and strategies to strengthen and reinforce their market positions, as well as drive these tactics and strategies down new paths to exploit gaps and weaknesses in competitors' offers." He also added, "Retailers' use of Ugam's solutions exemplifies how the application of outside-in analytics can improve key assortment metrics, including conversion, sell-through, revenue, and gross margin."
With Ugam's Assortment Intelligence solution, retailers can make sure they're offering the right products at the right price, aligning their product pages with consumer demands and engagement behavior, and creating a compelling sales experience that improves the visit-to-purchase ratio.
The solution combines real-time data collection with predictive analytics to help retail merchandisers determine what products to keep, carry and drop. The solution goes beyond simple competitive analysis to incorporate web analytics and sales data, including page traffic, referring page data and customer engagement data. For category managers, the Assortment Intelligence solution now also analyzes their internal data to determine specific interventions, including: SEO and SEM changes, pricing and promotion adjustments, content refreshes and improved site mapping.
"It's not enough to know everything about the customer in today's age of empowered consumers," said Mihir Kittur, Co-Founder and Chief Innovation Officer at Ugam. "Today's retailers need predictive analytics-based solutions, like Assortment Intelligence, that capture competitive omni-channel data and provide specific recommendations to help category managers make smart decisions."
About Ugam
Ugam is a global leader in managed analytics that helps retailers, brands and market research firms transform big data into valuable insights. The company's unique managed services offering combines a proprietary big data technology platform with deep domain knowledge and analytics expertise to empower clients to make decisions that improve their business. For retailers, online marketplaces and brands, Ugam supports better merchandising, marketing and channel management decisions through the use of analytics. For market research firms and insight-based consultancies, Ugam offers a portfolio of solutions including end-to-end research operations, technology transitioning support, and data warehousing, visualization and reporting that enables them to better serve their clients. Five of the top 10 U.S. retailers, many of the world's largest brands and online marketplaces, and 13 of the top 25 market research firms work with Ugam because of its ability to deliver high-quality insights with unmatched customer experience.
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Vandita Thomas
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