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Tata Consultancy Services’ Retail Optimization Platform, TCS Optumera™ Leverages AI to Enable Customer-Centric, Store-Specific Space & Assortment to Drive Sales and Profitability
NEW YORK I MUMBAI, October 28, 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 Intelligent Virtual Store Design Applications, for TCS Optumera™, its award-winning AI-powered retail merchandizing and supply chain optimization platform[1].
TCS Optumera helps retailers drive customer-centric omnichannel business strategies and make data-driven decisions around space, mix, price, promotions, markdowns, omnichannel assortment, and supply chain. By infusing AI in these processes, it enables retailers to carry-out in-store initiatives such as buy online and pickup in store, click and collect centers, and experience zones. It also helps curate products across channels, thereby helping improve footfall, exceed customer expectations, increase basket values, and improve profitability.
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.
“Amidst a changing store landscape and an increasing shift to online, serving a customer need at their channel of choice is more challenging than ever before for omnichannel retailers,” said Shankar Narayanan, Business Group Head, Retail Cluster, TCS. “TCS Optumera helps global retailers make intelligent space, assortment, and supply chain decisions in an integrated manner, resulting in improved margins and customer delight.”
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.
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. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
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] Market Guide for Retail Intelligent Virtual Store Design Applications, Robert Hetu, Gartner, September 21, 2021
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