Tata Consultancy Services’ Award-Winning Merchandize Optimization Suite, TCS Optumera™ Leverages AI to Improve Customer Price Perception and Drive Profitability
NEW YORK | MUMBAI, March 1, 2022: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been positioned as a Major Player in the IDC MarketScape for Worldwide Retail Price Optimization Solutions 2021-2022 Vendor Assessment.1 The company leverages TCS Optumera™, its award-winning AI-powered retail optimization platform to help retailers drive customer-centric omnichannel business strategies and make data-driven decisions around space, mix, price, promotions, markdowns, omnichannel assortment, and supply chain.
“With TCS Optumera, we are helping retailers move away from traditional siloed pricing and pivot to unified, dynamic and intelligent pricing, driving better customer price perception, identifying sales and growth opportunities, and improving margins,” said Shankar Narayanan, Business Group Head, Retail Cluster, TCS. “Our position as a Major Player in this report is a reflection of our vision, unique capabilities and the resultant market impact.”
TCS Optumera is a retail merchandizing and supply chain optimization platform that leverages AI to curate unified price, promotion, and markdown strategies to improve customer price perception, execute omni-channel pricing autonomously and drive profitability.
The self-learning platform harnesses the power of data, machine learning and artificial intelligence for multi-dimensional concurrent optimization, making merchandizing processes intelligent and autonomous and helping retailers rapidly execute changes. Optumera harnesses AI to analyze how price elasticities impact revenue by evaluating over 1,000 factors that impact business KPIs, and autonomously recommends price changes. By taking a cross-channel approach and simulating multiple scenarios, it identifies sales and growth opportunities. Retailers that deployed Optumera have seen 3-5% increase in sales, 30%-~50% reduction in time spent, 20-30% reduction in costs, and execute 5x more strategies.
TCS Optumera is a flagship product of the TCS Algo Retail™ suite of products and platforms that enables retailers to seamlessly integrate and orchestrate data across the retail value chain, harnessing the power of analytics, AI, and machine learning to unlock exponential business value.
About IDC MarketScape
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
About Tata Consultancy Services (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 528,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22.2 billion in the fiscal year ended March 31, 2021, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com
1 IDC MarketScape: Worldwide Retail Price Optimization Solutions, IDC #US48393721, December 2021
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