Absolutdata, a leader in delivering scalable business impact through AI-powered solutions, advanced analytics, and data science services, announced the launch of NAVIK TradeAI, the world’s first Trade Promotion Intelligence (TPI) solution. The latest addition to Absolutdata’s popular NAVIK AI Platform, NAVIK TradeAI empowers CPG trade promotion teams to radically improve planning and revenue performance with the power of AI and machine learning in an easy-to-use TPI solution that delivers better results more quickly.
Now available to Absolutdata customers, NAVIK TradeAI has allowed trade promotion teams using the solution to drive 4-7 percent increases in incremental sales. Prior to the launch of NAVIK TradeAI, trade promotion teams had to rely on Trade Promotion Management (TPM) software, which helps with efficiency and tracking but doesn’t directly drive sales increases, or Trade Promotion Optimization (TPO) solutions, which lack agility and self-learning capabilities. NAVIK TradeAI enables better modeling with more than 10 additional data sources typically ignored by TPO and TPM solutions.
Today’s economy demands an agile trade promotion approach that produces results quickly. 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 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.
“Even as AI and machine learning transformed other business functions, in the trade promotion space technology remained mostly static, and changes were incremental at best over the last decade,” said Anil Kaul, CEO and co-founder of Absolutdata. “NAVIK TradeAI is a gamechanger. It not only simplifies trade promotion planning and generates a significant revenue impact in the short-term, but like all NAVIK AI Platform solutions, it keeps delivering value over the long haul, getting smarter as it takes in new data. This creates a cascading, positive effect across the organization. That’s why trade promotion professionals need to incorporate TPI capabilities now to gain and keep a competitive edge.”
NAVIK TradeAI harnesses the power of AI and machine learning to deliver better predictive models with self-learning capabilities. It allows trade promotion teams to leverage a range of rich data sources that extend over a longer period, creating recommended trade promotion calendars on the fly that are based on multiple business variables. NAVIK TradeAI also gives users the power to easily model complex interaction scenarios between manufacturers, retailers and consumers, identifying new opportunities.