Ugam, a global leader in managed analytics, today announced its inclusion for the second year in a row as a representative vendor in Gartner’s February 2016 Market Guide for Unified Price, Promotion and Markdown Optimization Applications by Robert Hetu, research director with Gartner’s Retail Industry Services team. Hetu’s report analyzes the market for technology that uses predictive analytics and optimization capabilities to plan and manage every aspect of pricing.
“Optimization technology that uses science and a wide variety of inputs is in demand, as pricing is a primary strategy in competitive markets,” wrote Hetu. “Retailers are challenged to extract margin, while retaining customers in an increasingly competitive pricing environment. Algorithmic unified price optimization remains an opportunity for retail CIOs as they prepare for digital business,” adding that “this technology can provide improved pricing and promotion planning and management throughout the entire life cycle of the merchandise.”
“The demand for competitive dynamic pricing solutions is surging,” said Ugam CEO Sunil Mirani. “But only by capturing consumer demand indicators and incorporating them into predictive algorithms can retailers gain a competititve pricing advantage. This requires a proven technical platform managed by skilled data scientists with deep retail domain experience – this is where Ugam excels.”
According to Hetu, “Retail CIOs should ask the merchandisers how satisfied they are with their ability to manage pricing, including all aspects of regular, promotion, and markdown price calculation and execution. Note: Ignoring the problem is not a strategy.”
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Ugam is a global leader in managed analytics that helps retailers, brands and market research firms transform big data into valuable insights. The company’s unique managed services offering combines a proprietary big data technology platform with deep domain knowledge and analytics expertise to empower clients to make decisions that improve their business. For retailers, online marketplaces and brands, Ugam supports better merchandising, marketing and channel management decisions through the use of analytics. For market research firms and insight-based consultancies, Ugam offers a portfolio of solutions including end-to-end research operations, technology transitioning support, and data warehousing, visualization and reporting that enables them to better serve their clients. Five of the top 10 U.S. retailers, many of the world’s largest brands and online marketplaces, and 13 of the top 25 market research firms work with Ugam because of its ability to deliver high-quality insights with unmatched customer experience.