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Celect is a predictive analytics platform that enables retail buyers, merchandisers, planners and inventory analysts to increase sales, margins, and reduce markdowns by placing the right product, in the right place, at the right time - across all channels.
Small (<50 employees), Medium (50 to 1000 Enterprise (>1001 employees)
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By turning big data into smart data, Celect allows retailers to understand how an individual customer shopping at a specific location chooses from an assortment of products.
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Celect is a powerful, cloud-based platform that simplifies the complexity of inventory and product assortment optimization, driven by predictive analytics and machine learning. It exposes and analyzes the impact of customer choices for more effective assortments and a highly accurate view of future demand. Users are able to uncover accurate and meaningful insights to make better decisions. While it reduce inventory stock outs and markdowns by intelligently fulfilling omnichannel demand. Celect analyzes the context of each customer choice. Have it then combined with an understanding of each transaction for every customer. Together, it can build the world’s first data-driven customer choice modeling suite. Celect Assortment Optimization helps retailers build robust assortments specifically optimized for the foot traffic in each individual store, resulting in improved merchandise forecasting, rapid category growth, and increased inventory turns. Filter, analyze and make sense of an overwhelming amount of data from disparate sources. The result is an accurate model of future buying patterns and behavior that helps the company make better decisions while leveraging their honed intuition across the merchandise planning process.
On the other hand, Celect Predictive Personalization helps the world’s largest retailers personalize the online shopping experience down to the individual customer. Celect provides individualized recommendations by tracking behavior across various activities including transaction logs, image data, browse history, product reviews, social channels, and abandoned carts. With this data, Celect builds a choice model for each customer that dynamically changes with every action so they find what they want in the shortest amount of time. Another solution that is provided by Celect is Markdown Optimization that helps retailers understand the impact of markdown decisions on the entire assortment and overall revenue while avoiding excessive markdowns and missed profit gains often associated with traditional discounting efforts. All these three put together creates an optimized platform from Celect.
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