Tata Consultancy Services’ Optumera™ Named Retail Solution of the Year for Helping Offer the Right Assortments and Pricing to Gain Competitive Advantage
Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, announced that its AI-powered retail optimization software suite, TCS Optumera™, has won the 2021 Data Breakthrough Award in the category Data Solution of the Year – Retail.
The Data Breakthrough Awards honor the most innovative products, solutions, and companies in the field of data technology. An expert panel of judges, representing a mix of technical, business, academic and marketing expertise evaluated entries for innovation, value, performance, ease of use, and functionality.
“Last year was a lesson in the power of adaptability and resilience for retailers and consumers alike. With its ability to evaluate thousands of attributes that impact the shopping experience, TCS Optumera’s AI-driven recommendations enable retailers to respond effectively to changing omnichannel dynamics while improving growth, margins, and customer satisfaction,” said Shankar Narayanan, Business Group Head, Retail, CPG, Travel & Hospitality, TCS. “We are delighted at this recognition of TCS Optumera’s innovative use of AI to help retailers around the world gain a competitive advantage.”
TCS Optumera uses advanced AI to monitor thousands of customer, market, and vendor behaviors. This real-time analysis helps retailers offer customers the right products in the right stores, in the right place, and at competitive prices. AI simulations also gauge the effectiveness of new merchandizing and product strategies. For example, if a retailer wanted to only sell organic products, TCS Optumera provides the potential impact on space, mix, price, promotion, inventory decisions, and supply chain.
TCS Optumera is part of the TCS Algo Retail™ suite of products and platforms. TCS Algo Retail is a paradigm shift in the way retailers do business and reimagines processes with automation and intelligence, orchestrating data across the retail value chain and unlocking exponential business value.
For more information on TCS Optumera, visit: https://www.tcs.com/optumera-digital-merchandising-suite.
To view the original press release, please click here.
