BIG DATA MANAGEMENT
Pathr.ai | January 15, 2022
Pathr.ai, the industry's first and only artificial intelligence (AI) powered spatial intelligence platform, today announced three powerful new spatial intelligence analytics tools focused on helping retailers drive in-store profitability. Pathr.ai’s CPG Display Tool, True Conversion Rate Tool, and Brand Effect vs. Location Tool are all designed to deliver previously unavailable business insights that empower retailers to obtain higher levels of revenue and make stronger business decisions for their physical stores.
“Retailers today lack in-store analytics around customer behavior - critical information that can lead to increased profitability and improved business outcomes. We designed our new tools to address some of the most pressing concerns for retailers,” said George Shaw, CEO and Founder of Pathr.ai. “In addition to our Brand Effect vs. Location Tool and True Conversion Rate Tool, now, for the first time ever, retailers will be able to assess the effectiveness of CPG brands at their stores with our CPG Display Tool.”
Pathr.ai’s new tools include:
CPG Display Tool: For the first time ever, retailers have a solution that helps them assess the effectiveness of CPG brands at their stores with store-level data to directly measure and maximize the impact of Category Management efforts. By analyzing shopper traffic and dwell impressions within various store departments, retailers can enhance their strategic CPG brand partnerships by offering them valuable data to improve their merchandise placement and marketing promotions. This information also allows CPG brands to better understand how their products are performing in different areas of a store and can be a potentially lucrative new data source for retailers.
True Conversion Rate Tool: Allows retailers to quantify group size dynamics in their locations (ex: families, couples, or singles) and delivers a more accurate buyer conversion rate for retailers. This is a huge departure from how the conversion rate is typically calculated, with most retailers measuring individuals, not groups. If a family of 4 enters a retail location, usually only one person from that family will pay for a product, not all 4. In addition to a more accurate conversion rate, this data can also be used to inform merchandising and in-store promotion initiatives.
Brand Effect vs. Location Tool: Lets retailers assess how effective their store-within-a-store brands and locations are performing. For example, retailers can leverage this data to understand the full business impact of their store-within-a-store, assessing if that location resulted in traffic to other areas or if it outperformed conventional sections of their store. Retailers can quantify traffic and dwell times around store-within-a-store locations to benchmark rents for each area and guide potential adjustments in location and surrounding store signage to improve performance.
“Spatial Intelligence can be a powerful asset to retailers focused on maximizing their profits and improving operational efficiencies critical to their success. We’ve created our insight tools to empower retailers to make business decisions in an accurate and data-driven way, and ultimately share that insight with their CPG supplier base.”
Alan Flohr, Chief Revenue Officer of Pathr.ai
Pathr.ai integrates and collects data from a retailer’s existing camera infrastructure. It measures customer movement inside a physical space anonymously - allowing companies to comply with GDPR and CCPA standards and achieve positive business results in an unbiased way.
Pathr.ai is the industry’s first AI-powered spatial intelligence software company that uses anonymous location data from available and existing infrastructure to observe human behavior in any physical space. Its sophisticated technology turns raw behavioral and spatial data from existing sensors into actionable and applied business learnings - allowing companies to drive the business results that matter most to the growth of their companies in real-time. Founded in 2019, Pathr.ai is headquartered in Mountain View, California.
Avantive Solutions | January 05, 2022
Avantive Solutions, a global technology and business process outsourcer (BPO) specializing in innovative customer experience (CX), strategic sales, and digital marketing solutions, today announced a partnership with Hitachi Solutions America, Ltd., a leading provider of global industry solutions powered by cloud services from Microsoft, to enhance their data analytics capabilities through improved performance of Microsoft Power BI with Azure Databricks. This will allow Avantive to drive best-in-class performance using machine learning and artificial intelligence solutions.
"The goal of our partnership is to take our clients' results to the next level. This will allow Avantive to use optimized technology to increase our contacts, conversions, as well as improve our customers' reachability and level of trust."
Amy Brennan, Avantive's VP of Operational Excellence
As Avantive's digital transformation partner, Hitachi Solutions will develop a customized data platform — fueled by machine learning (ML) and artificial intelligence (AI) — that will let Avantive leverage the power of cutting-edge analytics and customer insights.
"With the ML and analytics scalability of Microsoft Azure and Databricks, Avantive will be able to collect and aggregate data in real time and make efficient moment-by-moment adjustments to live customer outreaches. This capability will markedly improve their contacts, close rates, and performance," explained John Young, Hitachi Solutions' VP of Data Science and Machine Learning.
The Avantive team is focused on how they can control and leverage data to make interactions more personalized and relevant for their clients. This is what sets them apart from the competition — using data-driven insights to successfully reach their customers and communicate with them on a more meaningful level.
"Hitachi Solutions is helping us to not just append the data, but to find the trends in the data in the blink of an eye. At 5:00pm on Tuesday, we will know which households in which state to call, and we will have the ability to personalize our conversations based on the demographic data we can access with speed and security," said Brennan.
Avantive will implement new insights, utilizing multi-faceted demographic appends, allowing greater ability to reach their customers. By providing new data analysis speed and capacity, they will supply clients with greater trending insights and, ultimately, personalized call scripts.
Avantive chose Hitachi Solutions as their partner due to the relationship CEO Frank Pettinato built with the Hitachi Solutions team over the past two years. Already using Power BI and Azure, Avantive sought to collaborate further with a Microsoft solutions and technology leader.
"Hitachi Solutions impressed us with their team and the comprehensive nature of the solution they provided based on our market position. We've been very impressed with their nimbleness to come up with this unique solution for our company," said Pettinato.
While the project is well underway, Brennan is working daily with the Hitachi Solutions team on delivery, review, and developing the release of this cutting-edge technology in the first quarter.
"Our goal is to drive strong, measurable performance for our clients. We are already a market leader in insights and innovation. We believe Hitachi Solutions will make that capability richer, allowing us to provide additional actionable insights and placing Avantive Solutions several years ahead of market competitors," added Brennan.
About Avantive Solutions
Avantive Solutions, founded in 1988, is a Purpose-Driven global technology and business process outsourcer (BPO) specializing in designing, building, and delivering innovative customer experience (CX), strategic sales, and digital marketing solutions. The Company's Omni-Touch™ integrated solution provides actionable insights and drives desired outcomes through advanced analytics, artificial intelligence (AI), and machine learning platforms. Avantive Solutions partners with the world's most recognized brands in communications and media, healthcare, energy, financial technology (Fintech), and eCommerce. To learn more about how Avantive Solutions is bringing purpose to the customer experience, go to avantivesolutions.com.
About Hitachi Solutions America, Ltd.
Hitachi Solutions America, Ltd. helps its customers successfully compete with the largest global enterprises using powerful, easy-to-use, and affordable industry solutions built on Microsoft cloud services. Hitachi Solutions America provides global capabilities with regional offices in the United States, Canada, Europe, India/Middle East, Japan, and Asia Pacific. To learn more about how Hitachi Solutions can support your organization leveraging Microsoft solutions and technologies, go to global.
Compass UOL | December 24, 2021
Compass UOL, a global digital transformation company, and Furious Technologies, a North American revenue management and pricing optimization solutions provider, announced a strategic collaboration to provide online sellers in Latin America and USA with an integrated digital commerce solution.
The partnership will combine advanced cloud-based data science and Compass UOL's digital next-generation platforms services portfolio with Furious Technologies' artificial intelligence models for data-driven pricing. It will enable organizations to innovate, make better data-driven decisions, solve business challenges, and increase business value. The objective is to seize insights and use data generated by customer digital interactions to help sellers optimize price and increase average value per customer by dynamically recommending relevant products and purchase incentives.
Data-driven pricing, revenue management and higher margins
While typical IT departments deal with an overload of demands and daily problems, which makes it difficult to meet business's innovation and expansion goals, Compass UOL and Furious Technologies believe that end-to-end customer journeys must be created in the cloud and optimized to ensure continuous growth.
According to Alexis Rockenbach, CEO at Compass UOL, many companies are burdened by the need to increasingly use data to drive business decisions, solve supply chain issues and deal with the increasing material costs. As a result, they lack time and attention to customer touchpoints, or to sales and marketing overall.
"Compass UOL and Furious Technologies combine experience, data science and proven methodologies to maximize revenue, deploy state-of-the-art technology, and mentor customer-oriented teams on business acceleration", concludes Rockenbach.
Combining diverse US-based business teams, companies will be able to drive significant business development acceleration, having the potential to serve hundreds of B2B and B2C sellers in Latin America and the United States in the short term, and expand to other regions in the future.
"Compass UOL and Furious' cloud and virtual structure offer customers a scalable solution to meet their immediate needs to both manage risk and combat disruption. This combination of flexibility and experience provides an optimal environment to perform and deliver business transformation solutions. This effort enables businesses to ensure that the entire online journey is set to improve service, revenue and exponentially expand customer reach."
Ashley J. Swartz, CEO at Furious Technologies.
J.P. Morgan | December 18, 2021
J.P. Morgan Asset Management has recently launched its first mutual fund employing a data science-driven investment process, combining fundamental research, data insights, and risk management to identify attractively priced equity securities. The J.P. Morgan U.S. Applied Data Science Value Fund (JPIVX) combines the firm's decades of information and data sets accumulated by equity research analysts with the breadth and scale provided by J.P. Morgan's data science capabilities.
"The end-to-end data science investment process behind the product is the culmination of many years of building, iterating, and improving on the application of AI and ML techniques," said Hamilton Reiner, Head of U.S. Structured Equity for J.P. Morgan Asset Management. "The investment process is driven by machine learning and works off the core belief that there is significant alpha potential in portfolio construction, creating value through both security selection and allocation decisions."
The fund represents the collaboration of existing teams including data scientists, technologists, and fundamental analysts. Together the teams created infrastructure to construct a cloud-based process that can analyze information at tremendous scale.
"Our investors have long used data as part of their research process. We have used our decades of proprietary data and expertise to build upon that tradition, leveraging the power of the cloud and our data science capabilities in order to analyze an ever-increasing volume of information. We're able to apply that scale of information and insight to our investment decision-making processes," said Mr. Reiner.
The firm has been working toward this combination of fundamental investment management and data science for some time, culminating in a new business unit to focus on the application of AI/ML to its business.
"We started the build out of our data science and equity data science teams about six years ago and have been applying capabilities across our investment teams,Our new Investment Platform unit seeks to amplify the application of those capabilities, creating future-state strategies for our clients, and bringing under one roof our unique talent in investment data, data science, equity trading & analytics, derivatives and broker relationships."
Kristian West, Global Head of Investment Platform for J.P. Morgan Asset Management
The U.S. Applied Data Science Value Fund is managed by portfolio managers Eric Moreau, Wonseok Choi, and Andrew Stern, part of the U.S. Structured Equity team led by Hamilton Reiner.
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of $2.7 trillion (as of 9/30/2021), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity.