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Tata Consultancy Services’ AI-Based Merchandize Optimization Suite, TCS Optumera™ Leverages AI to Curate Unified Price, Promotion, and Markdown Strategies to Improve Customer Price Perception and Drive Profitability
NEW YORK I MUMBAI, February 24, 2021: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been named a Representative Vendor in the Gartner Market Guide for Retail Unified Price, Promotion and Markdown Optimization Applications, for TCS Optumera™, its award-winning AI-powered retail optimization suite1.
TCS Optumera harnesses the power of data, machine learning and artificial intelligence to help retailers to rapidly execute changes by rendering key merchandizing processes intelligent and autonomous. Its self-learning, multi-dimensional concurrent optimization is a strong enabler for making optimized space, assortment, pricing, and supply chain decisions in an integrated manner. Retailers using TCS Optumera have reported a 3-5% increase in sales, 30-50% reduction in time spent, 5x more strategies and 20-30% reduction in costs.
By running its algorithms over 1,000 factors that impact sales, TCS Optumera surgically identifies margin and sales growth opportunities across channels and provides optimal recommendations for executing unified pricing, promotions and markdown strategies, empowering merchandising teams to manage every aspect of pricing.
“With TCS Optumera, we are helping retailers move away from traditional siloed pricing and pivot to unified pricing, promotion and markdown strategies, driving better customer price perception and improving margins,” said Shankar Narayanan, Business Group Head, Retail, CPG, Travel & Hospitality, TCS.
TCS Optumera is part of the TCS Algo Retail™ suite which enables retailers to seamlessly integrate and orchestrate data flows across the retail value chain, harnessing the power of analytics, AI and machine learning to unlock exponential business value.
Disclaimer: 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.
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 AgileTM 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 469,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22 billion in the fiscal year ended March 31, 2020, 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 Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
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1. Gartner, Market Guide for Retail Unified Price, Promotion and Markdown Optimization Applications, Robert Hetu, January 2021
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