symphony retailai


Symphony RetailAI Names Chris Koziol CEO

#artificialintelligence

Seasoned software executive brings full suite of global retail and technology leadership experience to drive Symphony RetailAI's focus on worldwide customer success, AI-powered innovation and growth Symphony RetailAI, a leading global provider of AI-powered platforms and customer-centric solutions for customer-centric merchandising, marketing and supply chain solutions that deliver profitable growth for retailers and CPG manufacturers, announced the appointment of Chris Koziol as CEO and a member of the company's board of directors. Dr. Pallab Chatterjee, who previously served as CEO, has retired after a long career in technology, including several years at Symphony Technology Group. Koziol has an extensive background in retail and enterprise software and brings with him over 35 years of executive experience and success in the software technology sector, including 20 years in CEO, president and chief operating officer positions for mid-size and billion-dollar businesses. He most recently served as president and CEO of Aspect Software where he helped reposition the company as a $330M cloud-based software company. Prior to that, Koziol was COO of JDA Software and was instrumental in JDA's rapid growth during his tenure, presiding over its expansion into supply chain optimization and planning solutions through a combination of acquisitions and organic growth.


Symphony RetailAI Names Chris Koziol CEO

#artificialintelligence

Seasoned software executive brings full suite of global retail and technology leadership experience to drive Symphony RetailAI's focus on worldwide customer success, AI-powered innovation and growth Symphony RetailAI, a leading global provider of AI-powered platforms and customer-centric solutions for customer-centric merchandising, marketing and supply chain solutions that deliver profitable growth for retailers and CPG manufacturers, announced the appointment of Chris Koziol as CEO and a member of the company's board of directors. Dr. Pallab Chatterjee, who previously served as CEO, has retired after a long career in technology, including several years at Symphony Technology Group. Koziol has an extensive background in retail and enterprise software and brings with him over 35 years of executive experience and success in the software technology sector, including 20 years in CEO, president and chief operating officer positions for mid-size and billion-dollar businesses. He most recently served as president and CEO of Aspect Software where he helped reposition the company as a $330M cloud-based software company. Prior to that, Koziol was COO of JDA Software and was instrumental in JDA's rapid growth during his tenure, presiding over its expansion into supply chain optimization and planning solutions through a combination of acquisitions and organic growth.


7 key ways AI transforms promotional trade funds management - Symphony RetailAI

#artificialintelligence

CPG executives are painfully aware that they're investing billions of dollars in trade promotions each year, but as many as 72% fail to break even¹. It's clear that promotions have become more complex and harder to manage as CPGs must respond to changing consumer behavior, increasing demands from retailers and blurring of physical and online channels. Traditional forecasting and promotion-planning systems are unable to provide real-time, accurate insights to help managers understand the big picture. Below, we'll explore seven ways in which AI can help CPG companies more effectively plan promotional events, measure outcomes and make adjustments. You can read more in the companion paper on how AI transforms promotional trade funds management.


Retailers value AI but adoption remains scarce, reveals study

#artificialintelligence

The benefits of artificial intelligence technology, specifically around merchandise management, is clear to most retailers but just 16% have deployed an AI engine, according to a study from Symphony RetailAI and RIS News. The study identifies top challenges retailers face with merchandising planning and their perception of AI, according to a press release. It also lists three specific applications retailers view as critical for meeting merchandise management goals: demand forecasting (56%), replenishment (44%) and price management (41%). Retailers are most excited about AI's support in reducing out-of-stocks (56%) and over-stocks (34%), creating real-time inventory visibility (41%) and improving inventory accuracy (34%), according to the release. "As retail becomes more intelligent and consumer preferences become more fluid, the study's findings make it clear that now is the time to invest in AI to improve merchandise management outcomes," said Kevin Sterneckert, CMO, Symphony RetailAI, in the release.


Retailers value AI but adoption remains scarce, reveals study

#artificialintelligence

The benefits of artificial intelligence technology, specifically around merchandise management, is clear to most retailers but just 16% have deployed an AI engine, according to a study from Symphony RetailAI and RIS News. The study identifies top challenges retailers face with merchandising planning and their perception of AI, according to a press release. It also lists three specific applications retailers view as critical for meeting merchandise management goals: demand forecasting (56%), replenishment (44%) and price management (41%). Retailers are most excited about AI's support in reducing out-of-stocks (56%) and over-stocks (34%), creating real-time inventory visibility (41%) and improving inventory accuracy (34%), according to the release. "As retail becomes more intelligent and consumer preferences become more fluid, the study's findings make it clear that now is the time to invest in AI to improve merchandise management outcomes," said Kevin Sterneckert, CMO, Symphony RetailAI, in the release.


Symphony RetailAI, InContext Team to Advance Retail Landscape

#artificialintelligence

Symphony RetailAI's space planning solutions are enhanced through the advanced VR technology of InContext Solutions' ShopperMX platform, enabling retailers to streamline the space planning process and drive more effective use of physical store real estate. The resulting outcome is 5-10% improvement in category performance. "Historically, retailers have found investment in store-layout optimization to be prohibitively expensive," said Pallab Chatterjee, Symphony RetailAI CEO. "However, by virtualizing the process of category- and store-planogram design and testing, Symphony RetailAI and InContext Solutions are able to help retailers create agile store layouts that keep pace with rapidly changing market conditions. In addition to saving time and money building new store environments, retailers see instant and measurable impact through improved category growth and customer outcomes, visualized by easy-to-use overlay analytics on performance."


Innovation Zone - Xcelerate Retail Forum

#artificialintelligence

This year's Innovation Zone will highlight the latest innovations from Symphony RetailAI – from AI-enabled personalized marketing and demand forecasting, to virtual store remodeling, next-generation category management and Symphony RetailAI's unique digital analytic assistant, CINDE (Conversational INsights and Decision Engine). A first-of-its-kind artificial intelligence-enabled digital assistant for grocery and hard goods retail that is transforming the way retailers work. CINDE does what is humanly impossible, helping you make more intelligent business decisions at speed and scale, to drive sales, profit and customer loyalty. Comprehensive promotion planning, evaluation, and forecasting allows you to maximize the return on every promotional dollar through optimization with AI technology. Make the most of data and insights to design, collaborate & test concepts for your in-store innovations.


Artificial Intelligence: Opportunities in Retail - Symphony RetailAI

#artificialintelligence

Today's retail industry is far more fragmented and competitive than ever. Multiple store formats and an arsenal of digital tools are making shoppers more educated about choices. Digital channels also continue growing. This is particularly true in grocery, where heavy hitters like Amazon and Walmart continue to eat into the market share of traditional chains. The landscape has also become more diverse, with a variety of household types and lifestyles having very different needs than the mom-dad with-kids target that dominated generations past.


Gartner's Market Guide for CRM in Tier 1 Retail and AI-enabled customer relationship management - Symphony RetailAI

#artificialintelligence

In Gartner's 2018 Market Guide for CRM in Tier 1 Retail, Kelsie Marian states, "The next phase of CRM includes leveraging advanced technologies to better understand and predict customer behavior across a variety of contextual settings." I was reading Gartner's report because Symphony RetailAI was listed as a representative vendor for our SR Personalized Marketing solution. I was struck by how Kelsie's statement is reflected back to me almost weekly. In my job, I'm fortunate to speak to executives both within my company and outside. I'd expect our execs to promote technologies that help retailers understand customers and predict their behavior – the essence of AI-enabled customer relationship management.