Algonomy Launches Mid-Year Release with CDP and Merchandising Tools
Algonomy, a provider of customer engagement, merchandising, and supply chain planning solutions, today launched several artificial intelligence-powered solutions as part of its mid-year release for 2022. This release is aimed at helping companies increase customer conversion rates and lifetime value while growing the bottom line by controlling cost and revenue leakage.
Algonomy latest release includes its Real-time Customer Data Platform, enabling marketers to drive contextually relevant engagement in the moment. For merchandising and supply chain planning in grocery, Algonomy introduces version 3.0 of its Right suite of products, comprising Forecast Right, an AI-driven demand forecasting solution, and Order Right, a replenishment planning product.
Algonomy's CDP uses real-time data to drive contextually relevant engagement based on the latest customer events. Streaming data is ingested into the platform and the Audience Manager helps explore, identify, and activate audience segments automatically in real time. It is natively integrated into Algonomy's Campaign orchestration and Personalization tools and provides out-of-the-box connectors to Shopify and Commerce Tools for real-time orchestration.
Algonomy's Forecast Right is a demand forecasting solution with an AI-powered framework that incorporates internal and external data, automatically pre-processes them, and applies advanced time series to them.
Algonomy's Order Right is a replenishment optimization solution that consumes demand forecasts from Forecast Right and optimizes order plans within constraints and parameters such as lead time, replenishment frequency, shelf life, expiration dates, and display stock, using custom-built replenishment algorithms. It powers users with advanced features such as future stock predictions, day zero predictive alerts, and risk-based order planning.
"Retail is evolving at a rapid pace to keep up with the shifting needs of customers. Our vast experience in the industry tells us that it needs technology solutions that cater to distinct needs of every industry segment within fashion, grocery, specialty brands, [direct-to-consumer, and quick-service restaurants]. The products in this release are created to alleviate the growing pains experienced by retailers and introduce new approaches to meet their customers' needs in the moment," said Sarath Jarugula, chief product officer of Algonomy, in a statement.