BOSTON, Oct. 24, 2017 /PRNewswire/ -- Celect, a market leader in predictive analytics and inventory optimization for retailers, announced its inclusion as a Visionary in the 2017 "Magic Quadrant for Retail Assortment Management Applications" report by Gartner, Inc.
According to the report, Gartner analyst Robert Hetu wrote, "Taking advantage of the store base is critical for a digitalized retail experience that delights customers, but this requires a significant refinement of the assortments offered by channels and quality execution. Big data, combined with advanced analytics and algorithmic approaches, is required to create store-specific assortments that are aligned to specific customer behavior segments."*
"We believe that being part of the Magic Quadrant for Retail Assortment Management Applications is a true testament to the innovation Celect is delivering to the market as we help retailers surface significant opportunities for optimization through advanced analytics that would otherwise have gone undiscovered," said John Andrews, CEO of Celect. "In our opinion, Celect plays an important role in a rapidly evolving space – integrating closely with existing systems of record and delivering an unprecedented forward-looking view of retail demand, with high-scale, interactive optimization. This optimization drives all the critical decision making that happens within the related retail business process – across the merchandise, planning, allocation, and fulfillment cycle."
Leveraging a groundbreaking advancement in machine learning and predictive analytics, Celect optimizes retail inventory portfolios in stores, online, and across the supply chain. With increasing pressures on the retail industry to perform, Celect is providing retailers a way to significantly boost revenues, margins, and inventory turns across channels.
*Source: Gartner, Inc., Magic Quadrant for Retail Assortment Management Applications, Robert Hetu, 28 September 2017.
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Celect is a cloud-based, predictive analytics SaaS platform that helps retailers optimize their overall inventory portfolios in stores and across the supply chain, resulting in double-digit percentage revenue increases through optimized assortments and fulfillment. This groundbreaking advance in machine learning and optimization allows retailers to understand how an individual customer shopping in store or online chooses from an assortment of products, revealing true demand. The technology builds on a fundamental advance in customer choice modeling 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/.