CHICAGO--(BUSINESS WIRE)--IRI®, a global leader in innovative solutions and services for consumer, retail and media companies, today announced it has been recognized as a Representative Vendor in Gartner’s report, “Market Guide for Unified Price, Promotion and Markdown Optimization (UPPMO) Applications.” IRI is the vendor included in both the complete UPPMO solution and data service provider categories, which, IRI believes, reflects the breadth of its capabilities and ability to provide retailers with true competitive advantage leveraging big data and analytics.
In its report, Gartner, a global research and advisory firm, explains that “price optimization, while largely accepted as a requirement for doing business, has reached a point where artificial intelligence and advanced analytics are required to price strategically and in a unified manner.” IRI’s Retail Pricing Suite and Retail Promotions Suite are examples of UPPMO solutions that IRI offers its retailer clients. These offerings are designed to address the specific challenges retailers face in responding to real-time changes in market dynamics and consumer shopping trends.
“We are very proud to have been recognized by Gartner in this report, and particularly proud to be named a Representative Vendor in Retail UPPMO in both the ‘Complete UPPMO Solutions’ and ‘Data Provider’ categories,” said KK Davey, president of Strategic Analytics at IRI. “IRI has been focused on developing solutions to meet the unique needs of retailers as they adopt the real-time, automated pricing and promotion optimization strategies that today’s competitive and dynamic environment demands. IRI’s Retail Pricing Suite and Retail Promotions Suite are clear examples of the way IRI integrates artificial intelligence and sophisticated analytics into our solutions, enabling retailers to discover opportunities, plan strategies, and track progress for price and promotion decisions throughout the entire store.”
IRI’s Retail Pricing Suite and Retail Promotions Suite are specifically calibrated to address the unique workflow and operating processes of retailers using the latest predictive analytics technology:
- Retail Pricing Suite: Using artificial intelligence-powered recommendation engines, IRI’s suite of retail pricing solutions delivers optimized pricing that scales across the total store. The solutions ensure prices enable specific desired outcomes while adhering to constraints stemming from the organization’s pricing policy, ultimately allowing retailers to establish a stronger market position and execute pricing decisions that resonate with shoppers.
- Retail Promotions Suite: IRI’s promotion optimization tools measure the efficacy of a retailer’s historical promotions against their stated goals, and use these insights to plan more effective and appealing promotions across a range of parameters – such as deal type, depth of discount, feature and display placement, accompanying reward offers, duration, and frequency – ultimately enabling retailers to plan and execute promotions that engage shoppers.
To learn more about the way your business could optimize pricing and promotions with advanced analytics technology, contact Gul Ahuja, senior vice president of Strategic Analytics at IRI, at Gul.Ahuja@IRIworldwide.com.
Gartner, Market Guide for Unified Price, Promotion and Markdown Optimization Applications, Kelsie Marian, Robert Hetu, 11 July 2019.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About the IRI Partner Ecosystem
IRI fundamentally believes that delivering differentiated growth for clients requires deep, highly integrated partnering with a variety of best-of-breed companies. As such, IRI works closely with a broad range of industry leaders across multiple industries and sectors to create innovative joint solutions, services, and access to capabilities to help its clients more effectively collaborate and compete in their various markets and exceed their growth objectives. IRI is committed to its partnership philosophy and continues to actively enhance its open ecosystem of partners through alliances, joint ventures, acquisitions and affiliations. The IRI Partner Ecosystem includes such leading companies as 84.51°, Adobe, The Boston Consulting Group, Clavis Insights, comScore, Data Plus Math, Dynata, Edison, Experian, GfK, Gigwalk, Google, Ipsos, Jumpshot, Mastercard Advisors, MaxPoint, Ogury, Omnicom, One Click Retail, Oracle, Pinterest, Simulmedia, SPINS, Univision, Viant and others.
IRI is a leading provider of big data, predictive analytics and forward-looking insights that help CPG, OTC health care organizations, retailers, financial services and media companies grow their businesses. A confluence of major external events — a change in consumer buying habits, big data coming into its own, advanced analytics and personalized consumer activation — is leading to a seismic shift in drivers of success in all industries. With the largest repository of purchase, media, social, causal and loyalty data, all integrated on an on-demand, cloud-based technology platform, IRI is empowering the personalization revolution, helping to guide its more than 5,000 clients around the world in their quests to remain relentlessly relevant, capture market share, connect with consumers, collaborate with key constituents and deliver market-leading growth. For more information, visit www.iriworldwide.com.