NEW YORK, Jan. 9, 2015 /PRNewswire/ -- Ugam, a global leader in managed analytics, today announced it has joined forces with Revionics, a leading global provider of End-to-End Merchandise Optimization solutions, as a member of its Competitive Data Partner (CDP) Program. The program enables retailers to incorporate multiple, diverse sources of data from leading competitive retail data providers at the speed, scale and frequency they desire via the industry's first Competitive Data Connector. By ingesting data directly from Ugam and other data providers via Revionics' Connector, retailers can systematically operationalize competitive data and insights with other critical internal and external data and use it to execute more shopper-centric, fact-based pricing and competitive strategies.
"Today's shoppers are more informed and empowered than ever before, and the volume of competitive information available to retailers is expanding exponentially," said Ugam co-founder and chief innovation officer, Mihir Kittur. "Retailers need to be able to collect and ingest this vast amount of data to make informed pricing, assortment and content decisions."
Revionics' CDP Program Connector provides an easy-to-use interface that enables the retail industry's leading competitive data providers, including Ugam, to directly send pricing data and insights to Revionics® Price Optimization solution. The Connector supports all sources of competitive data and pricing intelligence, including shopped and audited data, online data intelligence, market data and pricing insights. CDP Program members agree to support the Connector and must pass a technical certification test. In the future, the program will expand to include Revionics® Promotion Optimization and Revionics® Markdown Optimization solutions.
Revionics® Price Optimization combines data, science, strategy, business rules and operational constraints, enabling retailers to execute shopper-centric, fact-based pricing and competitive strategies aligned with category, corporate and financial objectives. Through the CDP Connector, competitive pricing intelligence can now be easily incorporated into pricing decisions weekly, daily or on-demand.
Ugam delivers competitive pricing, assortment and content intelligence data collected via its powerful pricing engine, which compiles data on more than one hundred features and attributes for millions of products in real time at the click of a button. The pricing engine makes Ugam's Pricing Intelligence solution the only offering on the market that collects up-to-the minute price data from the majority of U.S. Internet retailers. The solution is part of Ugam's broader platform, which provides retailers and brands with a single repository of product data that powers product pricing, assortment and content decisions, and builds on a massive data repository of 7.5 billion records.
"Systematically incorporating competitive pricing intelligence with other critical data and applying rules and analytics to that data enables retailers to make optimal fact-based pricing decisions," said Marc Hafner, Revionics CEO. "Our CDP program continues to grow and Ugam's membership provides an additional source of rich and timely pricing intelligence data."
For additional information about Ugam's Pricing Intelligence & Optimization solution, visit: http://www.ugamsolutions.com/retail/pricing-intelligence-optimization-overview
For additional information about Ugam's Assortment Intelligence solution, visit: http://www.ugamsolutions.com/retail/assortment-intelligence-overview/assortment-intelligence
For additional information about Revionics' Competitive Data Partner Program, visit: http://revionics.com/pricing-intelligence.html
Ugam is a global leader in managed analytics. Combining a proprietary big data platform with a global team of insights and analytics experts, Ugam's unique offering empowers clients with the confidence necessary to take action that impacts their business. Clients trust Ugam because they deliver unmatched customer experience and specific results. That trust is also based on deep domain expertise, end-to-end service, innovation and the highest quality of insights and analytics, which enable Ugam to transform big data into big insight and direct action. As a result, nine of the largest 25 retailers, many of the world's largest brands and online marketplaces, and 12 of the top 25 market research firms turn to Ugam today to help improve their business performance. www.ugamsolutions.com
Revionics delivers proven End-to-End Merchandise Optimization solutions, enabling retailers of all sizes to execute a fact-based omnichannel merchandising strategy utilizing the most comprehensive set of shopper demand signals to enhance financial performance with improved customer satisfaction. Revionics' solutions leverage advanced predictive analytics and demand-based science to ensure retailers have the right product, price, promotion, placement and space allocation for optimal results across all touch points in the omnichannel shopping episode – online, in-store, social and mobile. Offered on a scalable, high performance SaaS platform, these solutions deliver insights and recommendations at speed, scale and frequency, while providing speed-to-ROI. Over 37,000 global retail locations representing $150+B in annual revenue across grocery, drug, building materials, convenience, general merchandise, discount, sporting goods stores and eCommerce sites optimize with Revionics' solutions. Revionics has been recognized as a Deloitte Technology Fast 500™, Red Herring Top 100 Global, Red Herring Top 100 Americas and JMP Securities' Hot 100 Software Company. For more information, please visit www.revionics.com.
Davies Murphy Group