SAN FRANCISCO--(BUSINESS WIRE)--Fract, provider of the first geospatial Artificial Intelligence (AI) platform that analyzes internal and external factors to improve retail performance, today announced its partnership with Current, powered by GE.
In partnership with Current, Fract combines environmental data with other retailer data to assess store performance. Fract’s AI-based platform provides recommendations to improve assortment and optimize the physical selling environment at the product, category, and store level. With Fract’s platform, retailers can optimize for varying regions, demographics, and behaviors across their enterprise.
“We’re extremely excited to be working with Current,” said Mike Mack, co-founder and CEO of Fract. “Current allows us the ability to analyze both in-store and external factors for retailers, which is a first for the industry. Now we can help retailers understand market conditions and answer questions as to why products work at some locations rather than others, and help the success of new product launches.”
Fract helps Fortune 1000 companies increase market share by integrating a variety of data points into its platform to generate actionable insights for improved revenue and ROI. Fract works with demand forecasting/supply chain, business intelligence and store planning departments to help understand and improve poor performing product lines or locations and optimize incremental revenues. Customers see results almost immediately, with reports available in as little as a minute, compared to the typical six weeks required by traditional processes.
Current by GE works with commercial, retail and industrial companies to leverage LED technology to make energy efficiency improvements while opening new digital possibilities. With additional sensor technologies added to lighting infrastructure, companies like Fract are able to efficiently collect data to transform the customer experience.
Fract provides the retail industry’s first geospatial artificial intelligence platform for retail – helping retailers and restaurants understand market conditions and improve the performance of existing or proposed locations for retail stores, restaurants and other businesses. Fract’s AI tool integrates various business data points, runs a continuous prediction loop to find hidden data patterns, and presents actionable insights and specific ROI for each action. Customers see results almost immediately, with reports available in as little as a minute, compared to the typical six weeks required by traditional processes. Fract is headquartered in San Francisco.
About Current, powered by GE
Current is the digital engine for intelligent environments. A first-of-its-kind startup within the walls of GE (NYSE: GE), Current blends advanced energy technologies like LED and solar with networked sensors and software to make commercial buildings and industrial facilities more energy efficient & productive. Backed by the power of Predix*, GE’s platform for the Industrial Internet, and a broad ecosystem of technology partners, Current is helping businesses and cities unlock hidden value and realize the potential of their environments. www.currentbyge.com
* Trademark and/or service mark of General Electric Company