Tata Consultancy Services’ Optumera™ Named Data Solution of the Year - Retail, for Helping Offer the Right Assortments and Pricing to Gain Competitive Advantage
NEW YORK | MUMBAI, March 25, 2021: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, announced that its AI-powered retail optimization software suite, TCS Optumera™, has won the 2021 Data Breakthrough Award in the category Data Solution of the Year – Retail.
The Data Breakthrough Awards honor the most innovative products, solutions, and companies in the field of data technology. An expert panel of judges, representing a mix of technical, business, academic and marketing expertise evaluated entries for innovation, value, performance, ease of use, and functionality.
“Last year was a lesson in the power of adaptability and resilience for retailers and consumers alike. With its ability to evaluate thousands of attributes that impact the shopping experience, TCS Optumera’s AI-driven recommendations enable retailers to respond effectively to changing omnichannel dynamics while improving growth, margins, and customer satisfaction,” said Shankar Narayanan, Business Group Head, Retail, CPG, Travel & Hospitality, TCS. “We are delighted at this recognition of TCS Optumera’s innovative use of AI to help retailers around the world gain a competitive advantage.”
TCS Optumera uses advanced AI to monitor thousands of customer, market, and vendor behaviors. This real-time analysis helps retailers offer customers the right products in the right stores, in the right place, and at competitive prices. AI simulations also gauge the effectiveness of new merchandizing and product strategies. For example, if a retailer wanted to only sell organic products, TCS Optumera provides the potential impact on space, mix, price, promotion, inventory decisions, and supply chain.
TCS Optumera is part of the TCS Algo Retail™ suite of products and platforms. TCS Algo Retail is a paradigm shift in the way retailers do business and reimagines processes with automation and intelligence, orchestrating data across the retail value chain and unlocking exponential business value.
For more information on TCS Optumera, visit: https://www.tcs.com/optumera-digital-merchandising-suite.
About Tata Consultancy Services Ltd. (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 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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