Quantivo, a provider of on-demand customer behavior analytics, has announced the immediate availability of Quantivo Retail, a SaaS (software-as-a-service) solution that puts the power of large-scale, dynamic customer behavior analytics directly in the hands of merchandisers, retail marketers and business analysts. Quantivo is breaking the traditional Business Intelligence model by enabling business users to easily perform large-scale affinity queries and receive answers in seconds – at a fraction of the cost of traditional analytics software.
This breakthrough in Business Intelligence is possible because of Quantivo’s patented “Affinity Analytics” technology, which provides a revolutionary way for end-users to identify behavioral patterns pertaining to customer purchase preferences, promotion responses, buying trends and other customer behavior factors. End-users can perform Affinity Analytics whenever and as often as they like, therefore enabling dynamic decision-making and resulting in increased sales, tighter inventory management, improved campaign effectiveness and reduced customer attrition.
”Retailers are struggling to uncover the latest insights buried in the information collected in their loyalty, point of sales, marketing, and online systems,” said Brian Kelly, CEO of Quantivo. “Today, to answer even a single consumer behavior question, businesses are forced to wait for hours, days or weeks while resources get allocated and analysis is performed. Thus, businesses miss opportunities by making decisions based on obsolete information or gut feel. Our Affinity Analytics technology combined with a cloud computing architecture breaks the traditional BI mold and finally puts the business user in 100-percent control of consumer analytics.”
“Quantivo is bringing analytics and Business Intelligence into the modern era,” said Chris Shipley, executive producer of the DEMO Conferences. “Relational databases and OLAP tools are inadequate for answering customer behavior questions and the overhead of existing analytic solutions is preventing their widespread usage. The combination of Quantivo’s Affinity Analytics technology with an on-demand, SaaS delivery model is a market disruptive combination.”
Merchandisers, planners and business analysts can conduct unprecedented “train-of-thought” analysis by using Quantivo Retail to analyze their sales performance from all angles, analyze product purchase combinations at any product, category, channel, or store level, and prove or disprove hypotheses in real time. Quantivo Retail includes four types of analytic capabilities specific to the needs of retailers:
- Market Basket Analysis: Identifies product combination purchases at the transaction level. This function helps users understand what products sold together and discover product affinities.
- Customer Lifetime Value Analysis: Identify product combination purchases over time by repeat customers.
- Segmentation Analysis: Identify relevant attributes associated with purchase decisions. Users can identify purchasing patterns related to geography, demographic, channel, promotion, store, SKU, etc.
- Affinity 360 Finder: Performs an exhaustive search for all relevant affinities, uncovering new or disregarded patterns. This unique capability enables users to ‘know what they don’t know,’ which is impossible to do at scale and with fast response times using traditional Business Intelligence solutions.
Quantivo’s SaaS delivery model allows customers to get up and running in just a few days. No hardware to procure, no software to install and configure. Customers send their data to Quantivo to onboard into the Quantivo affinity database. Retailers can get timely and actionable insights without the hassle and time delays typical of other analytics applications. This on-demand service model provides the ultimate efficiency and flexibility for customers.
Quantivo Retail is sold with utility pricing, which allow retailers to try the service virtually risk-free. Monthly fees are usage-based, depending on the amount of data and number of users. Quantivo also offers “Quick Start” packages for short-term commitments, including a month-to-month program.
For more information on DEMO products/services, visit www.demo.com.
For more information on Quantivo products/services, visit www.quantivo.com.