IRI®, a global leader in innovative solutions and services for consumer, retail and media companies, announced it has been recognized as a Representative Vendor in Gartner’s report, “Market Guide for Unified Price, Promotion and Markdown Optimization (UPPMO) Applications.” IRI is the vendor included in both the complete UPPMO solution and data service provider categories, which, IRI believes, reflects the breadth of its capabilities and ability to provide retailers with true competitive advantage leveraging big data and analytics.
Gartner, a global research and advisory firm, explains that “price optimization, while largely accepted as a requirement for doing business, has reached a point where artificial intelligence and advanced analytics are required to price strategically and in a unified manner.” IRI’s Retail Pricing Suite and Retail Promotions Suite are examples of UPPMO solutions that IRI offers its retailer clients. These offerings are designed to address the specific challenges retailers face in responding to real-time changes in market dynamics and consumer shopping trends.
“We are very proud to have been recognized by Gartner in this report, and particularly proud to be named a Representative Vendor in Retail UPPMO in both the ‘Complete UPPMO Solutions’ and ‘Data Provider’ categories,” said KK Davey, president of Strategic Analytics at IRI. “IRI has been focused on developing solutions to meet the unique needs of retailers as they adopt the real-time, automated pricing and promotion optimization strategies that today’s competitive and dynamic environment demands. IRI’s Retail Pricing Suite and Retail Promotions Suite are clear examples of the way IRI integrates artificial intelligence and sophisticated analytics into our solutions, enabling retailers to discover opportunities, plan strategies, and track progress for price and promotion decisions throughout the entire store.”