BOSTON, Dec. 1, 2015 /PRNewswire/ -- Celect, a market leader in predictive analytics and choice modeling for retailers, today announced the addition of four members to the company's Advisory Board. This move supports the company's plans to aggressively expand its innovative predictive analytics platform in the retail market.
The Celect Optimization Platform enables merchandisers, retail planners, and inventory analysts to create optimized and localized product assortments across all channels, and in turn, increase inventory turnover and revenue while fostering a better customer experience. The platform takes vast amounts of disparate data, making it actionable and insightful.
The new advisory board members are:
Steve Papa – Steve is an entrepreneur and visionary, bringing extensive experience developing and growing industry-changing technologies. He founded Endeca in 1999 and served as the CEO through the company's $1.1 billion acquisition by Oracle in 2011. Under Steve's leadership, Endeca transformed the retail commerce market by transforming how customers search and find products on retail websites. Endeca continued to innovate with transformational solutions in omni-channel commerce, enterprise business intelligence and analytics, and national security markets.
Balaji Prabhakar – Balaji Prabhakar is Professor of Electrical Engineering and Computer Science at Stanford University and co-founder and Chief Scientist of Urban Engines. His research interests are in cloud computing, Internet algorithms and, recently, in societal networks, especially transportation networks. Balaji has been awarded the Alfred Sloan Fellowship, the Erlang Prize, the Rollo Davidson Prize, and the IEEE Innovation in Social Infrastructure Award. He is an IEEE Fellow and serves on the Future Urban Mobility Initiative of the World Economic Forum.
Bob Rosenblatt - Bob has more than 25 years of experience leading mid and large sized retail organizations, including Tommy Hilfiger, HSN (formerly the Home Shopping Network), and Bloomingdale's. As CFO of Bloomingdale's, Bob was responsible for the P&L of the corporation, financial planning, and administrative management. For the past eight years, Bob has been CEO of Rosenblatt Consulting, LLC, which specializes in helping investment firms determine value in both public and private companies in the consumer products sector, as well as helping retail firms maximize profitability. Bob has been and is currently serving on several public and private boards in the retail and technology industry including Pep Boys, Evine, RetailNext, Newgistics, and I.Predictus.
Matthew Rubel – Matthew is Senior Advisor at Roark Capital Group, a private equity firm with over $6.3 billion in equity capital. Formerly he was Chairman, CEO and President of Collective Brands, Inc. where he led the acquisition of the Stride Rite Corporation and the integration with Payless Shoesource. Matthew is a member the Board of Directors of several companies, including HSN Inc., Hudson's Bay Company, and SUPERVALU Inc. As a White House appointee, he serves on the United States Trade Representative (USTR) Advisory Committee for Trade Policy and Negotiations.
"We couldn't be more pleased to have Steve, Balaji, Bob, and Matthew join our Advisory Board," said John Andrews, CEO at Celect. "Each of them brings unique and proven expertise to Celect, which is critical as we continue to influence how retailers use predictive analytics to improve merchandise assortment decisions. "
Celect is a 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, the Celect Choice Engine 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. For more information, visit celect.com.