AI predictive analytics pioneer Olvin today announced a partnership with PredictHQ, the demand intelligence company, to provide Olvin with insights into the events driving people movement and foot traffic to inform Olvin’s algorithms that enable their customers to plan with confidence.
The collaboration will see Olvin use PredictHQ’s enriched and verified event data for sports, conferences, festivals and more to empower their customers across the retail planning, real-estate and store operations industries, to take charge of the challenges of predicting consumer movement and demand in the post-pandemic era. The company will be able to draw on three years of PredictHQ’s verified historical event data to identify impact for customers, sectors and locations, as well as impactful upcoming events.
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“We have built a powerful engine to make AI-powered predictive analytics accessible and actionable, and revealing the huge role events play in footfall and consumer demand is key. Our customers expect us to deliver quality, trustworthy and accurate forecasts on foot traffic, and as a result, we need to work with the most accurate data available. This is why we’re delighted to collaborate with PredictHQ” says Olvin CEO & Founder Sam Amrani.
PredictHQ covers 19 categories of events, including sports, conferences, school and college holidays, and unscheduled events such as severe weather and natural disasters. Companies such as Uber, Accor Hotels, Domino’s Pizza and Walgreens use this data to better understand the events that impact their demand in advance, so they can prepare their staffing, pricing and inventory plans.
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Olvin will be integrating seven of PredictHQ’s event categories into their solutions, which enable customers to identify the previously hidden relationships between consumers and each location. Powered by a range of data sources as well as each store’s own data, it provides unique insight into what drives demand and allows users to move on from reactively following trends and instead make proactive decisions.
“Right now, retailers need certainty so they can plan with confidence. Inflation is driving up costs across the board, and the battle to recruit and retain great retail teams is not going away any time soon. This makes accurately predicting consumer demand critical, and data-driven decision making is fundamental to cutting through the noise. PredictHQ is excited to be working with Olvin to make that as accessible as possible. ” says PredictHQ CEO & Co-Founder Campbell Brown.
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