NEW YORK – December 10, 2014 – Ugam, a global leader in managed analytics, today announced that they were cited in the Forrester Research, Inc. October 2014 report, TechRadar™: Retail Analytics Q3, 2014, which provides an in-depth look at the current value of various retail analytics technologies and their level of adoption.
As new retail analytics offerings emerge to monitor, measure and optimize new trends in personalization, big data processing and omnichannel customer engagement, e-business professionals have been seduced by promises of incremental revenue through investments in the complex technologies. These retailers are looking for undiscovered insights about their customers and businesses. Forrester’s TechRadar report examines the wide range of solutions available today that allow for the discovery and communication of meaningful patterns of data from the retail world. The stated goal of the report is to "provide eBusiness professionals with a perspective on where they should focus their energy."
The report features Ugam in its section on dynamic pricing tools, which support online price monitoring and price optimization as well as elasticity support, price recommendations and markdown optimization.
The report lists dynamic pricing tools in the “high” category on its “business value-add” scale, and states that “price optimization is essential.” The report also stated that “pricing solutions in the past have been limited to functionality such as markdown decisions and are largely based on internal shopper data. New solutions take real-time data on online price variances into account — a significant improvement over older tools.”
Also according to the report: “Because the online channel makes information about pricing and availability readily accessible to all shoppers, retailers can no longer passively ‘stack products high and watch them fly.’ Their inputs can no longer just be their own historic sales patterns; rather, they must actively monitor competitive prices across the Internet, while also offering broad selections of products.”
“We agree with Forrester analysts that analytics and pricing optimization are critical components of success in the retail world,” said Sunil Mirani, Ugam CEO. “Our inclusion in this report validates Ugam as an innovator in the area of price optimization.”
TechRadar™: Retail Analytics Q3, 2014 is available for download here:
For additional information about Ugam’s Pricing Intelligence solutions visit:
Ugam is a global leader in managed analytics. Combining a proprietary big data platform with a global team of insights and analytics experts, Ugam’s unique offering empowers clients with the confidence necessary to take action that impacts their business. Clients trust Ugam because they deliver unmatched customer experience and specific results. That trust is also based on deep domain expertise, end-to-end service, innovation and the highest quality of insights and analytics, which enable Ugam to transform big data into big insight and direct action. As a result, nine of the largest 25 retailers, many of the world’s largest brands and online marketplaces, and 12 of the top 25 market research firms turn to Ugam today to help improve their business performance. www.ugamsolutions.com
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Davies Murphy Group