TCS Optumera™ Unified Price, Promotion and Markdown Optimization
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TCS Optumera™
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TCS Optumera™: AI-Powered Strategic Intelligence Platform for Retail
TCS Optumera™, an AI-powered retail-connected strategic intelligence platform, helps drive strategic and data-driven decisions across the retail value chain.
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Industry
Retail
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Highlights
TCS Optumera Unified Price, Promotion and Markdown Optimization harnesses AI to analyze how price elasticities impact revenue. This is done by evaluating 1,000+ factors that impact business KPIs and autonomously recommending price changes. By taking a cross-channel approach and simulating multiple scenarios, the solution identifies sales and growth opportunities.
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Challenge
With the shifts in consumer behavior, unpredictable demand, stressed supply chains, and growing competition, it is imperative for retailers to make innumerable pricing decisions in an integrated manner to drive positive price perception, market share, and profitability. Constrained by limited budgets, they struggle to strategize and manage every aspect of pricing throughout the product life cycle for both short-seasonal products and multi-year basic replenishment items.
Solution
TCS Optumera Unified Price, Promotion and Markdown Optimization leverages AI to improve business KPIs and autonomously recommends price changes.
Autonomous data-driven decision making: Leverages AI to drive dynamic pricing decisions
Unified framework: Adopts a unified approach to pricing across all lines of business
Always-On optimization: Continuously identifies opportunities for margin or sales growth, and changes item prices accordingly
Configurable, standardized rule sets: Offers a wide set of rules such as competitor price distances, item linkages, and margin rules at a granular level
Configurable dashboard: Provides user configurable dashboard, reports and alerts to support analytics
Benefits
Execute omnichannel pricing autonomously
Adopt customer-centric pricing
Balance promotions with base pricing
Define item strategies based on price and promotion sensitivity
Estimate price elasticity
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