Leading Product Intelligence provider collaborates to help retailers collect and incorporate competitive retail data
SEATTLE – February 10, 2015– Indix, the cloud-based Product Intelligence company that provides analytics and insights for brands, retailers and developers, today announced its partnership with Revionics, a leading global provider of End-to-End Merchandise Optimization Solutions. Through the Revionics Competitive Data Partner (CDP) Programretailers will be able to seamlessly incorporate the Indix product intelligence data into Revionics’ price optimization solution for more effective and competitive pricing. This partnership will help retailers as they battle intense pressure from consumer price transparency, increased competition and informed and connected multichannel shoppers.
"As commerce becomes more pervasive and dynamic, businesses have to leverage customer intelligence, business intelligence, and product intelligence to deliver the right product to the right customer at the right time at the right price,” said Sanjay Parthasarathy, founder and CEO of Indix. “We are thrilled to collaborate with Revionics to provide retailers with easy access to critical product intelligence data on hundreds of millions of products.”
Revionics’ CDP Program Connector provides an easy-to-use interface that enables the retail industry’s leading competitive data providers, including Indix, to directly send pricing data and insights to Revionics® Price Optimization solution. The Connector supports all sources of competitive data and pricing intelligence, including shopped and audited data, online data intelligence, market data and pricing insights. CDP Program members agree to support the Connector and must pass a technical certification test.
“Systematically incorporating competitive pricing and product intelligence with other critical data and applying rules and analytics to that data enables retailers to make optimal fact-based pricing and promotional decisions,” said Marc Hafner, Revionics CEO. “Our CDP program continues to grow, and Indix’s participation provides an additional source of rich product pricing and promotion information.”
Revionics® Price Optimization combines data, science, strategy, business rules and operational constraints, enabling retailers to execute shopper-centric, fact-based pricing and competitive strategies aligned with category, corporate and financial objectives. Through the CDP Connector, competitive pricing intelligence can now be easily incorporated into pricing decisions weekly, daily or on-demand.
Indix is building the world’s largest product database and a Product Intelligence Platform that helps businesses boost productivity, drive innovation, and accelerate growth. Using the Indix App and APIs businesses can improve product search and discovery, optimize promotions and offers, enrich product catalog attributes, and analyze the market and competitors. Indix also provides machine learning services using proprietary data-science algorithms. Indix currently tracks over 700 million products across more than 7,000 categories.
Learn more at http://www.indix.com
Revionics delivers proven End-to-End Merchandise Optimization solutions, enabling retailers of all sizes to execute a fact-based omnichannel merchandising strategy utilizing the most comprehensive set of shopper demand signals to enhance financial performance with improved customer satisfaction. Revionics’ solutions leverage advanced predictive analytics and demand-based science to ensure retailers have the right product, price, promotion, placement and space allocation for optimal results across all touch points in the omnichannel shopping episode – online, in-store, social and mobile. Offered on a scalable, high performance SaaS platform, these solutions deliver insights and recommendations at speed, scale and frequency, while providing speed-to-ROI. Over 37,000 global retail locations representing $150+B in annual revenue across grocery, drug, building materials, convenience, general merchandise, discount, sporting goods stores and eCommerce sites optimize with Revionics’ solutions. Revionics has been recognized as a Deloitte Technology Fast 500™, Red Herring Top 100 Global, Red Herring Top 100 Americas and JMP Securities’ Hot 100 Software Company. For more information, please visit www.revionics.com
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