Predictix Improves Forecast Accuracy Of Existing Retail Systems
Predictix recently announced that it will showcase Predictix Forecasting at the National Retail Federation's 99th annual Convention and Expo, January 10-13 in New York City (booth #1659). Predictix Forecasting reduces inventory and improves service levels for retailers and brands with existing forecasting and replenishment systems, by significantly improving the accuracy of their forecasts. It also allows companies to accomplish this quickly and without disrupting the business.
Predictix Forecasting delivers more accurate demand forecasts that are seamlessly integrated with a retailer's current forecasting and replenishment solutions. Predictix Forecasting is transparent to end users, who continue working in their existing systems. With the Predictix software-as-a-service (SaaS) model, the solution can be rolled out in as little as 90 days with minimal up-front investment, a low monthly subscription, and no investment in hardware, software, ongoing operations or upgrades.
As the first software company of its kind, Predictix offers a unified merchandising suite for planning, assortment, pricing, forecasting, and replenishment that can be implemented as modules to solve individual issues, or together for a unified view across previously disconnected merchandising decisions.
Predictix Forecasting scales to perform for even the largest businesses and has been proven with Tier 1 retailers and brands in the U.S. and Europe and across a variety of retail segments. Predictix Forecasting incorporates superior science that significantly increases the accuracy of promotional forecasts, as well as effectively addressing other complex situations such as forecasting new items or stores, short lifecycle products, cyclical and event seasonal profiles, returns, and daily or hourly forecasts.
For companies that want business users to directly view, analyze, understand, and interact with various components driving their forecasts, Predictix Forecasting can be deployed with a powerful yet intuitive user interface. Predictix Forecasting also drives forecasts across all of the Predictix Suite of merchandise applications spanning planning, assortment, pricing, promotions, and replenishment.
"The Predictix team boasts a wealth of experience in demand forecasting and an extensive network of academic collaborators, which has allowed us to develop novel approaches and algorithms to effectively solve complex retail problems with high performance," said Loren Williams, executive vice president and chief scientist, Predictix. "We can also uniquely leverage and enhance today's existing forecasting and replenishment systems, having designed, built and implemented many of those systems, to deliver a seamless experience to users and to drive significant profit improvements for our clients."
About Predictix
At Predictix, we help Tier 1 retailers and brands make better merchandising decisions with the first and only software-as-a-service suite for planning, allocation, assortment and space optimization, pricing, promotions, forecasting, and replenishment. Building on our executive team's experience in leading well-known retail technology companies, we've developed our software from the ground up so our clients can completely tailor and readily adapt it as their business needs change. We implement our solutions rapidly – and with no hardware to buy, software to install, large up-front investments to make, or long-term commitments to sign, our clients can move quickly and confidently on their merchandising initiatives. In essence, we are changing the way retailers and brands invest in and get value from technology. For more informaton,visit www.predictix.com.
SOURCE: Predictix