Cognira, a retail AI software provider, today announced the public availability of its AI Promotion Solution. The highly configurable, end-to-end promotion management tool infuses AI to simplify one of the most complex processes retailers face — knowing what, how, and when to leverage promotions to drive business objectives. With this launch, Cognira is giving retailers the power to plan, manage, analyze and optimize promotions easily, accurately and effectively for optimal ROI.
The robust solution enables retailers to excel with highly targeted and personalized promotions, and has been proven to improve margins, enable more accurate forecasts, ensure higher in-stock rates, and increase operational efficiencies for tier 1 retailers. The merchants and category managers who have used the solution have called it “game-changing,” “best-in-class,” and “impressive”.
“This is an area of retail that has been underserved by the traditional software vendors for many years,” said Hatem Sellami, CEO and Founder, Cognira. “In the current economic conditions, it’s particularly critical for retailers to ensure their promotions attract and retain customers while maintaining high ROI. Our data-driven solution supports this end-to-end process and removes all the guesswork.”
Cognira’s AI Promotion Solution relies on four integrated but distinct modules that synchronize merchandising and supply chain workflows among all stakeholders in the promotions process:
- Promotion Forecaster: Accurately forecasts promotional lift across all product categories.
- Promotion Planner: Allows for faster, more effective promotion planning.
- Promotion Analyzer: Allows for deep understanding of past performance.
- Promotion Advisor: Optimizes promotions with AI-powered recommendations.
Cognira relied on its combined experience in data science and retail to integrate each of these critical promotion operations into a scalable solution that delivers a modern, intuitive, and enjoyable user experience. With Cognira, retailers can easily collaborate across departments, look back and evaluate promotion performance, and plan promotions that align with their goals.
“We embedded advanced AI technology as a foundation of the solution, making it possible to analyze, plan and optimize promotions at a much more granular level,” said Bahadir Ustaoglu, COO & Founder, Cognira. “This in turn allows retailers to allocate their internal resources more strategically and enables them to hyper-focus on serving their customer needs.”