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Retailers Beat Competitors’ Prices With Cogenta’s Big Data Powered ‘Retail Insight’ Application

Leading retail intelligence technology group Cogenta (www.cogenta.com) has launched Retail Insight, an innovative Cloud-based pricing intelligence application which enables retailers, manufacturers and brand managers to stay one step ahead of their competition.

By utilising the exceptional processing speed of the latest big data technology, Retail Insight enables users to create 'instant views' of the market. This provides the real-time analysis they need to make key competitive pricing decisions ahead of their competitors. The immediacy behind this level of performance is delivered by the system's ability to dynamically filter millions of prices in real-time, generating up-to-the-minute pricing data-sets across multiple categories, brands and most importantly competitors. This allows time critical real-time price calculations to be based on the very latest market trends and tangible competitive behaviour.

Cogenta developed the Retail Insight application using the latest cutting-edge, open-source search systems including: Elastic Search, Mongo DB and Rabbit MQ. The use of such innovative search technologies is a critical factor in out-pacing traditional pricing technologies which often fail to deliver the same levels of data processing speed.

According to Cogenta's CEO Adrian Hobbs, "Retail Insight is a product of Cogenta's extensive work with our customers to understand their current and future needs. It delivers the rapid price analyses that our customers can use to gain a real competitive edge as quite simply the results they are working with are delivered far more quickly than their competitors will be able to achieve. The ability to maintain favourable price and stock positions will ensure that they are always one step ahead.

"In short it's a whole new real-time way of working as it's possible to see where prices have moved in the market and within minutes, to identify who triggered the change and then to know exactly where your price positions should be to respond. There is both data and graphical analysis included. The even better news is that the decisions made upon this data can also then be recorded in the application and passed on to other systems to update prices automatically. The initial feedback from our customers has been excellent, they're really excited about the potential of this application."

Ends….

About Cogenta: (www.cogenta.com)
Cogenta is the pioneer and the market leader in the provision of retail and pricing intelligence to UK's top and most trusted high street and online retailers. Its competitive intelligence service (NetPrice) equips UK's operating retailers with the business intelligence to help them to optimize stock and pricing decisions and therein maximize profits every day.

Cogenta provides unrivalled level of data accuracy and tracks price, stock, delivery information and promotional activity surrounding retail products in a wide range of categories.

They also publish consumer shopping applications that help consumers to make the best pricing decisions. Cogenta tracks consumer shopping behaviour and enables brands and retailers to communicate and target new audiences via mobile.

Cogenta's Marketing and Media contact;
Adrian Hobbs
Cogenta Ltd
[email protected]
D: +441753 827907
W: cogenta.com
M: +447836 333210
T: @cogenta

Source: RealWire

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RealWire is a global news release distribution service specialising in the online media. The RealWire approach focuses on delivering relevant content to the receivers of our client's news releases. As we know that it is only through delivering relevance, that influence can ever be achieved.

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