BENTONVILLE, Ark. —
Bentonville, AR, USA — February 17, 2022 — HIVERY, a pioneer of next-generation assortment strategy simulation & optimization technologies, is delighted to have been featured in the Forbes article entitled: Artificial Intelligence Can Help Leaders Drive Global Economy Forward In 2022. As one of the leading business-focused global media companies, Forbes recently published an article, written by contributor Benjamin Laker, covering the latest innovations and trends within the online marketplace.
The article highlights HIVERY as a leader and provides an example of AI application in today’s retail business world.
The article’s main focus draws attention to how business leaders should embrace artificial intelligence (AI) as an essential solution for creating good corporate strategies and ensuring the long-term survival of their organization.
Some of the corporate challenges business leaders face that the article cites AI as a solution for include operational tasks as well as creating and implementing corporate strategies. This is especially true as more people become accustomed to, and desire to have, more personalized shopping experiences, ensuring the right products are in the right stores with the right stock and making the use of category management tools more important than ever for businesses.
The Forbes article notes two of HIVERY’s AI-driven tools as primary examples of how powerful machine-learning approaches are in today’s virtual world: HIVERY Curate and HIVERY Promote. These two tools were cited as solutions for category management and Trade Promotion Optimization (TPO), respectively, which are two complex strategies business leaders rely on for predicting the success of their company’s sales and promotions.
HIVERY Curate is the world’s most scientifically advanced assortment & space strategy simulation optimization solution. The tool is fundamentally changing the way consumer packaged goods (CPG) companies and retailers collaborate with regard to assortment and space decisions. Once the optimal is chosen, HIVERY Curate can export that strategy into say PSA file planogram really for store execution. The result is space- and assortment-aware planograms that consider the impact of demand transference going beyond old methods like Customer Decision Tree (CDT).
HIVERY Promote was listed as an exemplary tool that can allow business users to compile multi-sourced data into a single actionable promotional calendar that continuously learns from users sales data, business constraints, price points, and promotion types. TPO is also cited in the article as an important activity for helping business leaders determine the parameters for how products should be promoted.
Business leaders face many challenges with data collection and planned marketing strategies, but they’re able to overcome those obstacles using HIVERY technology. AI programs can help reduce employee labor and costs while still optimizing business processes to keep up with industry trends. The anticipation of sales growth ahead of data-driven marketing strategies has retail businesses looking for ways to increase production while keeping up with demand through historical consumer activity and forecasts. Ultimately, these tools can reduce overhead costs, giving businesses a brighter outlook for the future.
Interested parties can learn more about the power of HIVERY by reading the Forbes article.
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About HIVERY. Data Has A Better Idea.
HIVERY is a pioneer of next-generation assortment strategy simulation & optimization technologies. HIVERY provides retail management solutions to category management, consumer and shopper insights, retail buyers sales management, as well as revenue growth management.
With proprietary machine learning and applied mathematics algorithms that were co-developed and acquired from Australia’s national science agency – CSIRO’s Data61, HIVERY was founded on the vision that t Data Has A Better IdeaTM – and we’re working together with our clients to uncover its full potential.