TCS named in the IDC MarketScape for Worldwide Retail Price Optimization Solutions

2 Mar 2022 , 12:15 PM

Tata Consultancy Services (TCS) has been positioned as a Major Player in the IDC MarketScape for Worldwide Retail Price Optimization Solutions 2021- 2022 Vendor Assessment.

The company leverages TCS Optumera, its award-winning AI-powered retail optimization platform to help retailers drive customer-centric omnichannel business strategies and make data-driven decisions around space, mix, price, promotions, markdowns, omnichannel assortment, and supply chain.

“With TCS Optumera, we are helping retailers move away from traditional siloed pricing and pivot to unified, dynamic, and intelligent pricing, driving better customer price perception, identifying sales and growth opportunities, and improving margins,” said Shankar Narayanan, Business Group Head, Retail Cluster, TCS.

At around 12.17 pm, Tata Consultancy Services Ltd was trading at Rs3,517.85 per piece down by Rs36.7 or 1.03% from its previous closing of Rs3,554.55 per piece on the BSE.

“Our position as a Major Player in this report is a reflection of our vision, unique capabilities and the resultant market impact.”

TCS Optumera is a retail merchandizing and supply chain optimization platform that leverages AI to curate unified price, promotion, and markdown strategies to improve customer price perception, execute omnichannel pricing autonomously and drive profitability.

The self-learning platform harnesses the power of data, machine learning and artificial intelligence for multidimensional concurrent optimization, making merchandizing processes intelligent and autonomous and helping retailers rapidly execute changes. Optumera harnesses AI to analyze how price elasticities impact revenue by evaluating over 1,000 factors that impact business KPIs, and autonomously recommends price changes. By taking a cross-channel approach and simulating multiple scenarios, it identifies sales and growth opportunities. Retailers that deployed Optumera have seen 3-5% increase in sales, 30%-~50% reduction in time spent, 20-30% reduction in costs, and execute 5x more strategies.

TCS Optumera is a flagship product of the TCS Algo Retail suite of products and platforms that enables retailers to seamlessly integrate and orchestrate data across the retail value chain, harnessing the power of analytics, AI, and machine learning to unlock exponential business value.