IRI Adds AI and Machine Learning to LiquidData
April 23 2018
Consumer data giant IRI has added artificial intelligence (AI) and machine learning features to its predictive analytics and insights platform LiquidData.
LiquidData solutions which will now feature AI and machine learning algorithms include:
Krishnakumar (KK) Davey
- IRI Demand Forecasting: providing a fully automated forecasting tool at scale
- IRI Revenue Management Solutions: helping customers optimize and track their price and promotion strategies
- IRI Assortment Optimization: identifying high- and low-incrementality items while proactively looking across retailers and products to alert clients about new opportunities
- IRI Aisle Optimization: using prescriptive insights to make automated recommendations for optimal layouts
- IRI Marketing Effectiveness: utilising AI and machine learning to tackle three challenges: data collection and integration, marketing mix modeling, and media planning; and
- IRI Trend Spotting: employing AI and machine learning techniques to spot trends and anomalies.
(pictured), President of Strategic Analytics, comments: 'IRI's use of AI and machine learning provides three key advantages to clients - speed to insights and action, scalability, and enhanced ability to manage successfully through the complex sales and marketing landscape. Leveraging these emerging technologies puts IRI's solutions and the clients who use them at a distinct advantage for driving growth and at the intersection of big data analytics and automation'.
Web site: www.iriworldwide.com
All articles 2006-20 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.