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Ugam unveils Assortment Intelligence tool for retailers

Ugam has announced Assortment Intelligence, a solution that it says generates insights for retailers about what products to keep, carry and drop, based on real-time data collection and analysis.

August 4, 2014

Managed analytics firm Ugam has announced Assortment Intelligence, a solution that it says generates insights for retailers about what products to keep, carry and drop, based on real-time data collection and analysis. According to the company, it synthesizes vast amounts of competitive data and consumer e-demand signals - including search data, ratings, reviews, and social media likes and pins - to analyze the competitive landscape and identify demand trends to enable retailers to make better, more systematic and timely assortment decisions.

The Assortment Intelligence solution is based on the company’s proprietary technology, which calculates consumer demand for a given product, and is part of Ugam’s big data platform, which provides retailers and brands with a single repository of product data that powers pricing, assortment and content decisions. It provides assortment intelligence in several key areas: what customers want, why they want it, what products to carry, and how to deliver them in a competitive timeframe. The solution also complements Ugam’s Pricing Intelligence solution, which helps retailers offer competitive, consumer-oriented prices.

“Retailers are looking for alternatives to competing solely on price, which is a losing battle. Our Assortment Intelligence solution gives them the capability to do more — by carrying a unique assortment. We help them not only understand what their competitors are offering; we help them understand what consumers want and what they don’t want. Knowing when to offer certain items and when to drop others is the key to assortment success. We’re empowering retailers with this knowledge,” said Mihir Kittur, Co-founder and Chief Innovation Officer, Ugam.