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Tata Consultancy Services’ Strategic Intelligence Platform Enables Retailers to Curate Shopper-Centric Assortments in Stores and Channels, Driving Up Sales and Profitability
NEW YORK I MUMBAI, August 08, 2022: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been named a Representative Vendor in the 2022 Gartner Market Guide for Retail Assortment Optimization Applications in Merchandising[1]. TCS has been recognized for its AI-powered retail strategic intelligence platform, TCS Optumera™, that enables retailers to seamlessly orchestrate data across the value chain, and make optimized decisions across space, assortment, price, promotion, markdown, and supply chain.
TCS Optumera Omnichannel Assortment Optimization leverages AI to recommend the right mix across channels considering over 1,000 factors that influence sales such as the consumer decision tree, demand transferability, and product affinity. It helps strike a balance between variety and availability to curate the perfect basket based on shopper insights. With its integrated, hyper-localized, always-on optimization of KPIs, the platform enables retailers to seize missed opportunities, rationalize stock keeping units, and helps shoppers find what they need, when they need it, maximizing sales and profitability.
TCS Optumera Competitive Assortment leverages a sophisticated three-tier matching algorithm to provide retailers insights about gaps in their assortment versus competition. TCS Optumera Fashion Assortment leverages AI and computer vision on attributes, images, and trends to provide hyper-localized, size-profile based item recommendations.
Retailers using TCS Optumera have reported 3-5% increase in sales, 30%-50% reduction in time spent, 20-30% reduction in costs, and execute 5x more strategies.
“TCS Optumera is helping retailers pivot from building assortments based on demand to shaping demand with localized and personalized assortments. By priming their category management with the interplay of art and science, retailers can not only curate the product mix customers love to see but also remove underperforming and obsolete products thereby reducing wastage and maximizing profits.” said Shankar Narayanan President, Business Group Head, Retail Cluster, 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 & Advisory organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed 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 606,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022, 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
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