London, May 16 2016: Retail analytics and pricing intelligence leader Intelligence Node is delighted to announce the sale of its recently-announced pricing and merchandising platform to two major brands – Indonesian retail giant MAP and Bulgarian fashion marketplace Bfashion.
MAP has been piloting Intelligence Node’s multilingual features as a way to explore how to run global channels efficiently by converting language and currency in real-time analysis modes. MAP, with its 1,800 retail outlets, delivering 150 brands in more than 60 cities, with a portfolio that includes department stores, fashion brands, sports equipment, food and beverage names, supermarkets, and lifestyle products, will use the new capability to initiate competitive programs.
“{{Intelligence Node’s multilingual feature provides us with a centralised view of competitors in a single language accurately}}, enabling us to make day-to-day pricing decisions and plan our overall strategy,” confirms its VP, Amit Keswani.
At the same time, Bfashion is also deploying the system across its retail catalogue, which operates in 9 languages.
The new raft of Intelligence Node’s capabilities, unveiled earlier this month at the World Retail Congress 2016 (April 12-14), enables e-businesses to run global channels efficiently by converting both language and currency in real-time. The platform uses a combination of in-house developed algorithms that connects to more than 20 third-party dictionaries, including image archives, plus a special Natural Language Processing (NLP) layer to ensure that contextual meaning is accurately preserved.
Multilingual matters in today’s expanding global e-commerce market as it will lessen confusion and inefficiency when working with your product in disparate local markets. For example, σακάκι can mean both jacket and blazer in Greek; without contextual understanding, that term can easily be mislabeled on an e-commerce website – frustrating users and potentially losing a sale.
Intelligence Node’s platform can help when it translates product information from other language sites into English, and includes a real-time currency conversion feature for pricing and discount information ensuring a consistent benchmark for comparisons.
The multilingual platform currently supports twenty-nine languages from geographies which together cover 95% of the world gross domestic product (GDP).
“We are delighted that one of the largest lifestyle retail groups in the world has chosen to work with our software to get truly global pricing and merchandising intelligence,” said Intelligence Node’s CEO Sanjeev Sularia.
“We believe that as country boundaries disappear with the rise to dominance of e-retail, this sort of functionality will be absolutely vital and envisage more and more retailers opting for this ground-breaking pricing and analytics platform.”
NOTES FOR EDITORS:
About MAP
MAP has a portfolio that includes department stores, fashion brands, sports equipment, food and beverage names, supermarkets, and lifestyle products. MAP has close to 2,000 retail outlets, delivering 150 brands in 66 cities across its geography. The company, which employs 22,000 people, is also the local franchise holder of well-known global brands such as Zara, Mango, M&S, TopShop, Starbucks, New Balance and Converse http://www.map.co.id
About BFashion
Bfashion is a fashion marketplace that is headquartered in Bulgaria. Sellers from 9 CEE (Central and Eastern European) countries, including Bulgaria, Romania, Greece, Czech Republic, Poland, Hungary, Slovenia, Croatia and Slovakia, can now easily showcase and sell their products to consumers in those regions http://www.bfashion.com/
About Intelligence Node
Intelligence Node is a fast growth Retail Analytics company. Its solutions help brands and retailers to optimise their pricing, product and merchandising operations by using real time data to make better decisions. Applying a combination of Intelligence Node’s big data and retail analytics technology and know-how, retail organisations can as a result trade faster and make better decisions daily. More at http://www.intelligencenode.com and on Twitter @bigdataNODE.
If you would like to find out more on how this new whole set of new extensions to iNCompetitor is benefitting global retailers, a briefing with Amit Keswani, Vice President of MAP, plus with CEO Sanjeev Sularia on the future of truly global pricing intelligence can be arranged. Please contact us.
PR Contact:
Carina Birt
Sarum, PR for Intelligence Node
carina@sarumpr.com
+44 1722 322916