OPTUMERA™: AI Powered Merchandise Optimization Suite
TCS' Optumera™ harnesses the power of AI with high-dimensional, concurrent, always-on optimization to enable retailers to hyper-localize and optimize their assortment, space and pricing strategies in an integrated way, with greater speed and precision in decision-making. With the ability to process over 3,000 heterogeneous data parameters and simultaneously optimize space, mix, and price across siloes, Optumera helps retailers identify demand signals and marketplace changes, thereby driving market competitiveness and customer delight.
TCS Optumera, is an AI powered merchandise optimization suite for strategic decision making, which helps merchants to answers complex strategy determining questions such as 'How can I increase revenue by X% percent y-o-y in the next quarter? Which lever do I change - Space, mix or price?'.
The solution is built for scale and employs robust proven AI models, machine learning algorithms and deep learning techniques, on a big data platform, to model customer behavior, preempt competition strategies, identify growth opportunities and provide optimized recommendations. While enabling users to add constraints and analyze multiple scenario simulations, it combines the powers of users' intuition and creativity with AI models and machine learning. Customers can drive 3-5% increase in sales and margin by using the solution.
The suite includes:
- Macro space optimization: Enables retailers to localize and right-size store space allocations, while blending in assortment, price, promo, inventory, and store labor and execution cost considerations, to recommend optimal space
- Price optimization: Intelligent automated item linkages, robust three-tiered image-based item matching, and optimized vendor deals and flexible advanced business rules sets help plan and execute customer-centric price recommendations across channels, considering the impact of assortment, inventory, and space to improve profitability, prevent margin erosion, and enhance customer loyalty
- Omni-channel assortment: Backed by data-driven insights on shopper decision tree, demand transferability, customer choice sets, store clustering, and market trends, Optumera helps retailers localize and curate the right product assortment across channels. Competitive assortment insights help understand the gaps in retailers' assortment compared to market
- Recognyze: A robust AI engine helps identify item inventory gaps and misplaced items on the shelf, as well as measure in-store planogram compliance to ensure higher in-store availability and drive last mile execution efficiency