Retail Express's chief scientist presents at the Price Management Summit Chicago:
17/10/08
October 2008 Retail Express attended the Eye for Retails, Price Management Summit in Chicago.
Running for its 5th consecutive year, the Price Management Summit gives host to the high level retail executives and leading retail technology businesses. The two days consisted of powerful conferences given by industry leaders such as Walgreens and The Nash Finch Company as well as the leading technology companies. Running concurrently with the conferences was a niche exhibition hall providing an insight into the latest Retail price technology on the market today.
Dr Bennavail, Retail Expresses chief Scientist gave a twenty minute presentation titled ‘Is your demand forecasting and price optimisation solution scalable by design’.
The topic of scalability was frequently addressed by the other speakers, but Dr Bennavail with over 25 years extensive knowledge and experience in the research, development and implementation of advanced analytics for the retail industry, both in the European and North American markets gave an in-depth discussion on the criticalness of scalability and covered areas such as.
Defining current and future scalability requirements (sizing the stores network, agreeing the price and promotion modeling scope and granularity, defining the processing and network capabilities, determining the users base, etc)
Assessing the architecture capabilities of a demand model and pricing solution (parallel run analytics and data processing, resource access, sharing and multithreading, vertical and horizontal scalability, data storage, integration with other systems (e.g. supply chain)
Setting up an on-site test, and developing a benchmark matrices
The Dos’ and Don’ts to a successful a roll-out.
The Price Management summit, with its precise focus on the retail pricing area, gave all attendees an opportunity to gain insight into different areas of retail and retail related businesses and how prices are managed and how retail technology is empowering the control of retail prices and aiding effective price management in todays turbulent economic climate.
Retail Express is expanding its operation, with clients already established in the U.S, and the recent launch into the UK market, Retail Express is pleased to announce that we are now selling directly into the North American Retail Market.
