From simple range rationalization to granular demand prediction for new products at any proposed RRP/MRP, SoundOut can help. In the fast evolving world of fashion and general retail, granular demand forecasting of every SKU at any given price point is becoming critically important.
SoundOut uses the real time input from
millions of consumers on proposed new items and combines this with historic
sales data to build category specific prediction models, generating significant improvements in ranging and buying accuracy. This is achieved by applying leading edge machine learning technologies that self learn and evolve over time to also include additional factors such as trend, weather and seasonality.
We are leaders in this field and work with some of the largest online and traditional fashion and other retailers in the US, Germany and the UK to materially improve demand prediction and reduce levels of discounting across their businesses by taking the consumer to the heart of their buying and merchandizing processes in an automated, scalable, frictionless and cost-effective way.
For many retailers, a modest 10% improvement in demand prediction accuracy can double bottom line profits.
Welcome to the demand economy in retail – where consumer powered prediction of demand fused with organization specific datasets and advanced machine learning informs supply, driving dramatic improvement in bottom line performance.