Atlanta, Georgia – Feb 13, 2018 – Data Profits Inc. (www.Data-Profits.com), a leading provider of mid-market retail forecasting and replenishment software, is proud to announce that they have been included in the prestigious Gartner Inc. 2017 Market Guide for Retail Forecasting and Replenishment Solutions. This Guide was compiled by Gartner Research VP, Mike Griswold, who has worked at Gartner for 12 years and has 32 years of industry experience. One of the Key Trends highlighted in 2017 Guide by Mr. Griswold is the growing importance of Machine Learning and Artificial Intelligence(AI) in forecasting and replenishment systems.
AI and Machine Learning Hot Trend in Forecasting and Replenishment
Stuart Dunkin, CEO of Data Profits said, “We are honored to be recognized by Gartner for six straight years. With the record number of retail store closings in 2017, retailers must connect their need to adopt newer software and technologies. Modern software with adaptive demand forecasting and replenishment based in new technologies like AI and Machine Learning has become a ‘must adopt’ to survive for retail and whole companies. This critical understanding led to Mike Griswold to place a lot of emphasis on Machine Learning in his report.
Traditional Forecasting Must Not be Overlooked
The Gartner Guide to Forecasting and Replenishment identified key areas where Machine Learning will aid retail. Two retail sectors Mike identified the AI and machine learning will help include: enhanced promotional forecasting and attribute forecasting for new products. Even though AI and Machine Learning are important, the importance of traditional methods of forecasting which emphasize metrics like forecasting accuracy will continue to be an ongoing concern that is not met with many forecasting and replenishment software applications.
Best AI Based Analytics Software for Higher Profits and ROI
Data Profits’ iKIS™ Software, built for today’s Multi-Channel Retailers utilize the latest technologies: AI and Machine Learning in our IKIS Solution. iKIS™ software allows our customers to obtain higher profits and ROI. Unlike many of our competitors, Data Profits allows business users to set their own business rules and goals which allows companies to adapt the software to their needs instead of having to change business for software.
About Data Profits (www.data-profits.com)
Data Profits provides mid-market retailers, distributors and grocers with iKIS™ our Demand Forecasting, Replenishment & Collaboration software. iKIS™ delivers meaningful insights into inventory management, helping customers identify opportunities to improve their supply chain and increase profits. Developed from the ground up as a flexible SaaS solution, iKIS™ by Data Profits delivers a set of critical abilities including demand forecasting, inventory replenishment, analytics and collaboration with deep demand forecasting visibility, and proactive AI and Machine learning based management alerts. Using iKIS™, teams across multiple channels work within one business network to drive immediate results. Data Profits’ real-world experiences demonstrate solid thought leadership with a 30-day install that returns significant ROI for customers in 90 days, driving actions to “Tighten the Links in Your Chain™.”