Alarum Technologies Ltd. (www.alarum.io) (Nasdaq, TASE: ALAR) (“Alarum” or the “Company”), a global provider of enterprise and consumer internet access solutions, today announced that its Enterprise Internet Access arm, NetNut Ltd. (“NetNut”), is entering the retail artificial intelligence (“AI”) market, landing its first retail customer for its digital technologies and analytics for retail customers.
Retail intelligence data vendors provide retailers, brand owners and e-commerce businesses with the ability to track and analyze the entire retail process—from product sourcing to consumer purchasing. Retail intelligence data platforms provide insights to pricing and availability, product reviews, and inventory analytics, as well as competitor pricing intelligence, store analytics, and more. The analysis of data is a valuable part of the overall strategic planning process, and often reveals many unknowns, which are extremely valuable in the implementation of new strategies, helping businesses make better decisions and develop an effective retail strategy.
NetNut provides retail intelligence vendors with a cloud service which allows them to collect retail data at scale from multiple web sites and data sources around the world. Utilizing NetNut’s service, retail intelligence vendors can easily collect business related data, without the need to develop complex data collection solutions, thus freeing the vendor to focus on its business of retail data analysis.
The ability to access large amounts of data becomes imperative for businesses in most sectors. Over the past year, NetNut expanded its presence in the e-Commerce market, the detection of advertising frauds and other areas.
“As competition in the retail market continues to accelerate, retail vendors are required to upgrade their technological and analytical capabilities, using advanced AI tools and big data, in order to maintain competitive advantages. With an innovative platform that combines data collection at scale and machine learning, NetNut’s ability to provide targeted data for retailers, helps such businesses to make data-driven decisions, such as understanding customer behavior and optimizing management of supply chain, get insight into the competition, identify new opportunities, and ultimately optimize their business functions and increase profitability,” said Shachar Daniel, Chief Executive Officer of Alarum.
Mr. Daniel added “We are proud of the wide network we established at NetNut. We are confident in our ability to provide massive amounts of data and respond to our customers’ requirements. We intend to continue to expand our network, as well as develop advanced solutions to meet the industry’s needs”.
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