|By Business Wire||
|April 14, 2014 04:00 AM EDT||
KSS Retail, a dunnhumby company, announced today that its PriceStrat software solution has been successfully implemented across the Tesco organization in the United Kingdom. Tesco U.K. buyers and category managers are using PriceStrat’s science and analytical tools to better plan and understand the impact of potential offers, so they can make smart decisions that strengthen Tesco’s brand and the value delivered to shoppers.
With more than 3,000 store locations in the U.K. as well as an online presence, Tesco faces the same challenges as many other retailers: increased competition and consumer price sensitivity due to a slow economic recovery. As a result, price and promotion are key areas of focus for the company. Executives in February announced a £200 million investment in “sharper pricing” and have promised to end “frivolous promotions” in favor of those more meaningful to customers.
A market leader in price optimization software, KSS Retail began working with Tesco several years ago through its partnership with dunnhumby. The PriceStrat solution provides merchandising teams with highly accurate forecasts and gives retailers like Tesco real-time insights on shoppers’ responses to different promotional offers. Through “what-if” scenario planning, managers can test various offer mechanics and variables, as well as display and space options, before promotions are executed. Promotions can be tailored by store type and geography to maximize relevance. By implementing PriceStrat, Tesco U.K. has been able to:
- Empower its category management and merchandising organization with tools to accurately predict the impact of different promotion options in advance
- Provide Tesco buyers with data and visibility they need to collaborate with manufacturers and vendors and model better promotions for their shoppers
- Identify new promotional opportunities based on price elasticity modeling, and reveal category cross-effects and product cannibalization
- Reduce the presence of pricing logic errors in the stores by automating enforcement of advanced pricing rules
- Improve the company’s customer price image measures both in-store and online by delivering consistently better promotional pricing matched closely to customer behavior
“It’s clear that retail customers value promotions, but many offers are too complicated and don’t work for shoppers in the right way,” said John Scouler, Commercial Director at Tesco U.K. “With the forecasting and analytics capabilities available in PriceStrat, we can understand – based on what our customers tell us – where it’s most important to offer promotions or reduce prices. We will continue to rely on PriceStrat to help us provide shoppers with stable, logical and competitive pricing, as well as the most compelling offers possible.”
Tesco has already begun to extend the implementation of PriceStrat to other regions initially in Eastern Europe. In addition, the retailer is collaborating with KSS Retail and dunnhumby on PriceStrat enhancements, including the ability to better predict customer response to promotions across the total store.
“The successful implementation of PriceStrat is just part of the ongoing strong dunnhumby partnership with Tesco,” said Yael Cosset, CEO of KSS Retail. “Delivering the right prices and relevant promotions are fundamental steps to growing enthusiasm about the Tesco brand, and we’ve seen the proof that our customer science enables just that. We’re delighted about the results the company is seeing with PriceStrat technology and look forward to building on these achievements with Tesco and other retailers in the years to come.”
Tesco is the U.K.’s largest retailer and one of the world's leading international retailers with approximately 5,000 stores worldwide. The company employs a team of over 530,000 people in 12 markets dedicated to bringing the best value, choice and service to millions of customers each week. Its core purpose is “we make what matters better, together.” For information visit www.tescoplc.com.
About KSS Retail
KSS Retail, a dunnhumby company, is the premier global provider of price optimization and shopper insight solutions for the grocery, convenience, chain drug, general and online retail industries. Retailers use KSS Retail software and professional services to better understand their shopper’s needs, and to deliver more effective pricing, promotions and merchandising decisions. KSS Retail clients consistently achieve improved market share, sales and profit growth, and enhanced competitive positioning. Current clients include The Kroger Co., 7-Eleven, AutoZone, O’Reilly Auto Parts, BI-LO/Winn-Dixie, SpartanNash, Raley’s, United Supermarkets, ABC Fine Wine and Spirits, and many others. For more information, visit www.KSSRetail.com.
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Oct. 23, 2016 08:30 AM EDT Reads: 1,325
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Oct. 23, 2016 08:15 AM EDT Reads: 4,346
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to impr...
Oct. 23, 2016 08:00 AM EDT Reads: 5,674
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
Oct. 23, 2016 08:00 AM EDT Reads: 8,315
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Oct. 23, 2016 07:00 AM EDT Reads: 4,094
Amazon has gradually rolled out parts of its IoT offerings, but these are just the tip of the iceberg. In addition to optimizing their backend AWS offerings, Amazon is laying the ground work to be a major force in IoT - especially in the connected home and office. In his session at @ThingsExpo, Chris Kocher, founder and managing director of Grey Heron, explained how Amazon is extending its reach to become a major force in IoT by building on its dominant cloud IoT platform, its Dash Button strat...
Oct. 23, 2016 06:30 AM EDT Reads: 4,735
DevOps is speeding towards the IT world like a freight train and the hype around it is deafening. There is no reason to be afraid of this change as it is the natural reaction to the agile movement that revolutionized development just a few years ago. By definition, DevOps is the natural alignment of IT performance to business profitability. The relevance of this has yet to be quantified but it has been suggested that the route to the CEO’s chair will come from the IT leaders that successfully ma...
Oct. 23, 2016 06:15 AM EDT Reads: 16,351
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
Oct. 23, 2016 06:00 AM EDT Reads: 684
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Oct. 23, 2016 05:30 AM EDT Reads: 3,920
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Oct. 23, 2016 05:15 AM EDT Reads: 1,834
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Oct. 23, 2016 04:00 AM EDT Reads: 3,926
One of biggest questions about Big Data is “How do we harness all that information for business use quickly and effectively?” Geographic Information Systems (GIS) or spatial technology is about more than making maps, but adding critical context and meaning to data of all types, coming from all different channels – even sensors. In his session at @ThingsExpo, William (Bill) Meehan, director of utility solutions for Esri, will take a closer look at the current state of spatial technology and ar...
Oct. 23, 2016 03:45 AM EDT Reads: 1,694
SYS-CON Events announced today that Interface Masters Technologies, a leader in Network Visibility and Uptime Solutions, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Interface Masters Technologies is a leading vendor in the network monitoring and high speed networking markets. Based in the heart of Silicon Valley, Interface Masters' expertise lies in Gigabit, 10 Gigabit and 40 Gigabit Eth...
Oct. 23, 2016 03:45 AM EDT Reads: 3,305
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue an...
Oct. 23, 2016 03:30 AM EDT Reads: 2,952
As software becomes more and more complex, we, as software developers, have been splitting up our code into smaller and smaller components. This is also true for the environment in which we run our code: going from bare metal, to VMs to the modern-day Cloud Native world of containers, schedulers and microservices. While we have figured out how to run containerized applications in the cloud using schedulers, we've yet to come up with a good solution to bridge the gap between getting your conta...
Oct. 23, 2016 03:30 AM EDT Reads: 1,442