Acxiom Partners with diwo
Acxiom, a customer intelligence company, is partnering with diwo, providers of a cognitive decision-making platform.
Acxiom Optimization Solutions, powered by diwo, will combine customer-level data with artificial intelligence to deliver enhanced insights into true market demand.
The partnership will initially focus on larger retailers and automakers to help with inventory management and optimizing incentives with additional industry expansion and capabilities coming in the near future.
"We are excited about the possibilities this new partnership with diwo will bring to the market as it combines Acxiom's more than 50 years of ethical data use, identity resolution, and innovative solutions expertise with diwo's last-mile analytics platform," said David Skinner, chief strategy officer at Acxiom, in a statement. "Due to the pandemic, long-established predictors of consumer demand are no longer valid, and the retail and auto sectors especially are demanding new data-driven answers. We are excited to fill that need and expect more opportunities in other industries."
"We see too many organizations still relying on reports, dashboards, and even spreadsheets to run their businesses. This unique partnership combines brands' operational data, Acxiom's third-party customer data, identity management, and the diwo platform to transform decision-making," said Krishna Kallakuri, CEO of diwo., in a statement. "Cross-functional teams from supply chain to marketing can automatically leverage more holistic customer data insights and the power of AI to dramatically improve business operations and deliver millions of dollars of value to the bottom line."
"Leveraging customer data and AI isn't just meant for more personalized marketing; it is key to informing better business decisions across the company from inventory management to marketing messaging," said Mike Wagner, managing director of Acxiom's retail and consumer group, in a statement. "This solution is the first of its kind, and a large retailer that uses this platform has seen around $35 million to $45 million annual savings and a 50 percent improvement in inventory allocation."
"Incentives planning is one of the most important levers a manufacturer has to get right. In the past, it has relied on a mix of disconnected data, ad-hoc analysis, and institutional knowledge to adjust and optimize programs," said John Campos, managing director for automotive at Acxiom, in a statement. "These new solutions bring new customer signals and more sophisticated technology to enable auto manufacturers to better personalize incentives and drive efficiency never before possible."
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