Absolutdata, a products and services company that helps the businesses to proliferate their growth via AI and ML technologies has announced a new solution today called NAVIK TradeAI.
According to the company, it is the world’s first Trade Promotion Intelligence solution which helps the enterprises to propel their growth up to 4 to 7 percent. NAVIK TradeAI gives users the ability to easily model complex interaction scenarios between manufacturers, retailers and consumers, identifying new opportunities.
NAVIK TradeAI is an Artificial intelligence drive technology backed with advanced analytics and data science services. In the public press release, the company claimed that the NAVIK Trade AI will radically improve the planning, revenue and promotion of CPG trade by self-learning capabilities powered AI and machine learning in an easy-to-use Trade Promotion Intelligence (TPI) solution.
Mentioned by the Absolutdata, earlier the trade promotion teams solely has to depend on the Trade Promotion Management (TPM) software for tracking and increasing business efficiency, however, that in actual conditions is not much effective for directly driving sales, thus, lack agility and self-learning capabilities; not in NAVIK.
NAVIK TradeAI enables better modelling with more than 10 additional data sources typically ignored by TPO and TPM solutions.
Furthermore, the NAVIK TradeAI generates real-time, goal-based recommendations that improve as it learns over time, and it empowers users to quickly create trade promotion calendars at the individual retailer level for unsurpassed granularity.
Absolutdata also has given one more reason why their NAVIK is unique, they said, today’s economy demands an agile trade promotion approach to get quick results. However, TPO solutions that enable planning by SKU, PPG, region, etc., aren’t sufficiently granular or flexible to drive needed increases. Absolutdata puts AI and machine learning at the core of NAVIK TradeAI, removing complexity with an intuitive interface and creating an agile and flexible solution that is self-learning.
NAVIK TradeAI harnesses the power of AI and machine learning to deliver better predictive models with self-learning capabilities.