Pioneer of Machine Learning and Advanced Analytics Focused on Sales Forecasting to Bolster the Company’s Existing Algorithms Portfolio
LONDON--(BUSINESS WIRE)--dunnhumby, the world’s leading customer science company, acquired Standard Analytics (SA) LLC, a pioneer of machine learning and advanced analytics focused on sales forecasting, to bolster the Company’s existing algorithms portfolio. The Standard Analytics brand name will cease to exist, while its technology and key personnel will be absorbed by dunnhumby. Terms of the deal were not disclosed.
“The typical analytics approach to sales forecasting and inventory management is to review deliveries and sales of specific products, and make adjustments when certain thresholds are passed. With SA technology, retailers have the enhanced ability to look beyond the individual product level to predict performance based on factors throughout the store in entire categories, product adjacencies, etc.,” noted Yael Cosset, Global CIO of dunnhumby. dunnhumby uses data to help companies more fully understand their customers, in order to improve shopping experience and build long-term customer loyalty. “Through predictive sales modeling, SA technologies monitor thousands of SKUs throughout thousands of stores within minutes of checkout scanning allowing us to make more accurate assessments and predictions for our CPG and retail clients. We know that as many as 1/3 of lost sales are a result of customers going to another retailer when an item is out of stock,” he continued.
SA’s powerful and sophisticated real-time out of stock alert system exceeds competitive technologies which do not account for pricing, seasonality and other factors that impact sales, or alert key personnel once out-of-stocks occur. The system provides retailers with vital consumer buying behavior and patterning that can help determine root causes of out-of-stock situations.
Key to dunnhumby fully leveraging the technology will be the addition of Standard Analytics founder, Hank Vaccaro, a retail data and analytics veteran with extensive experience in business intelligence, enterprise software, product management and strategic partnerships. “dunnhumby understands the customer better than anyone. The technologies we have mastered over time will help dunnhumby be even more agile and further retail and CPG client understanding of customer purchasing patterns and behaviors”.
dunnhumby is the world’s leading customer science company. We analyze data and apply insights from more than 400 million customers across the globe to create better customer experiences and build loyalty. Our insights and strategic process help clients create competitive advantage and enjoy sustained growth. dunnhumby employs more than 2,000 employees in offices throughout Europe, Asia and the Americas, and serves a prestigious list of companies including Tesco, Coca-Cola, Macy's, Procter & Gamble, PepsiCo and Shell. For more information, please visit us at www.dunnhumby.com.
dunnhumby understands the customer better than anyone. The technologies we have mastered over time will help dunnhumby be even more agile and further retail and CPG client understanding of customer purchasing patterns and behaviors