BOSTON, Dec. 13, 2016 /PRNewswire/ -- Celect, a market leader in predictive analytics and inventory optimization for retailers, convened its first executive level event dedicated to the rise of predictive analytics in retail. Retail's Predictive Analytics Forum was held in New York City on December 8, 2016, bringing together over 50 leading retailers to discuss the impact of predictive analytics on the merchandising, planning, and allocation process, while sharing best practices and experiences.
The forum was keynoted by Bob Hetu, Research Director on Gartner's Retail Industry Services team. With sponsors Kurt Salmon, part of Accenture Strategy, and RetailNext, the half-day event also included a panel and interactive sessions featuring executives from several large, global retailers.
"Many retailers are facing a complex inventory portfolio and assortment optimization problem," said John Andrews, CEO at Celect. "The at-capacity crowd and lively discussion at this year's forum effectively revealed how to leverage advanced predictive analytics in ways that haven't been done before in retail."
For more information on this year's event and to be informed of future dates, please visit the event website.
Celect is a cloud-based predictive analytics platform that enables retail buyers, merchandisers, planners and inventory analysts to increase sales, margins, and reduce markdowns by placing the right product, in the right place, at the right time - across all channels. By turning big data into smart data, Celect allows retailers to understand how an individual customer shopping at a specific location chooses from an assortment of products. The technology builds on a fundamental advance in customer choice modeling and machine learning called by MIT's Computer Science and Artificial Intelligence Laboratory, one of the 50 greatest innovations it has ever produced.
To learn more visit http://www.celect.com/.
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