Impact Analytics

Linthicum Heights,  MD 
United States
https://www.impactanalytics.co/
  • Booth: 5167

Impact Analytics offers a holistic suite of AI powered solutions to help brands future-proof their businesses using predictive analytics. The company has been pioneering and perfecting the use of AI in retail forecasting, planning, and operations for nearly a decade, serving the retail, grocery, manufacturing, and CPG industries. With tools for planning, forecasting, merchandising, and pricing, Impact Analytics enables retailers to make smart data-based decisions rather than relying on last year’s figures to forecast and plan this year’s business. The company also offers tools to automate functions the industry has long managed manually by spreadsheet and to unify and streamline reporting, so executives can rely on a single source of truth when making decisions. Impact Analytics was founded and is led by Prashant Agrawal, a former senior consultant at McKinsey and Boston Consulting Group and current Adjunct Professor at Columbia University who teaches about the use of AI in retail.

 Press Releases

  • Prime Day discounts indicate a need for retailers to prepare for cautious consumers for the coming Holiday season, according to a new report by Impact Analytics ™, the pioneer in AI-powered planning and pricing solutions for the retail, grocery, manufacturing, and CPG industries. The data shows low discounts, of less than 10% on average, in essential categories including Grocery & Gourmet Food; Pet Supplies; Appliances; Baby Products; and Patio, Lawn & Garden. Non-essential and High-Value Categories had significant discounts on Prime Day as well as the highest increase in discounts leading up to prime day. These categories include Electronics; Cell Phones & Accessories; Clothing, Shoes & Jewelry; Tools & Home Improvement; and Sports & Outdoors.

  • Retailers see nascent sales boost fueled by people switching to smaller sizes; ‘not something we’ve seen before’

    Apparel retailers are discovering that weight loss is their gain.

    While blockbuster drugs like Ozempic that lead to significant weight loss have dented demand for diet plans and caused food companies to prepare for people eating less, clothing sellers are finding that millions of slimmed-down Americans want to buy new clothes.

    The newly svelte aren’t just restocking their wardrobes, many are also gravitating to more body-hugging shapes and risqué designs, according to industry executives and shoppers. Some brands are responding by replacing zippers with adjustable corsets and adding more sheer looks.

    The nascent downsizing is happening across brands and types of garments. Industry executives said that they can’t be certain weight-loss medicine is the cause, but added that the shift is unlike anything they have seen. It is also an about-face from recent years, when many retailers rushed to add larger sizes to accommodate Americans’ growing girth.

  • New York, NY – August 21, 2024 – Impact Analytics™, the pioneer in AI-powered planning, merchandising and pricing solutions, today announced it has partnered with Briscoe Group, a leading retail conglomerate in New Zealand which operates Briscoes Homewares and Rebel Sport. Under the terms of the partnership, Briscoe Group will implement the Impact Analytics AI-Merchandising & Supply Chain platform, including PlanSmart, AssortSmart, InventorySmart, and AttributeSmart, to make data-driven decisions, improve forecasting accuracy, enhance inventory management, and ultimately deliver a superior customer experience.

    “After thoroughly evaluating opportunities to integrate advanced AI capabilities into our operations, we selected Impact Analytics for their exceptional retail-focused platform and team of seasoned experts,” said Andrew Scott, COO of Briscoe Group. “The platform’s ability to deliver rapid value through dynamic module interaction and sophisticated AI forecasting will future-proof our business, ensuring we remain at the cutting edge of retail innovation.”

  • NEW YORK–August 13, 2024 – Inc. revealed today that Impact Analytics™, a pioneer in AI-powered planning, merchandising and pricing solutions for the retail, grocery, manufacturing and CPG industries, was named to Inc. 5000, the annual list of the fastest-growing private companies in America. The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses. Microsoft, Meta, Chobani, Under Armour, Timberland, Oracle, Patagonia, and many other household-name brands gained their first national exposure as honorees on the Inc. 5000.

    “All of us at Impact Analytics are honored to be named as one of Inc.’s Fastest-Growing companies for a seventh consecutive year,” said Prashant Agrawal, CEO, Impact Analytics. “It’s extremely gratifying to continue to be recognized by the editors at Inc. for our growth in such a competitive and dynamic marketplace.”

  • Linthicum Heights, MD—June 25, 2024 – Ernst & Young LLP (EY US) today announced that Prashant Agrawal, Founder and Chief Executive Officer of Impact Analytics was named an Entrepreneur Of The Year® 2024 Mid-Atlantic Award winner. Entrepreneur Of The Year is the preeminent competitive awards program for entrepreneurs and leaders of high-growth companies.

    Agrawal was selected by an independent judging panel made up of previous award winners, leading CEOs and other business leaders. Candidates were evaluated based on their ability to create long-term value through entrepreneurial spirit, commitment to their purpose and the demonstration of growth and substantial impact, among other key indicators.

    Impact Analytics has been pioneering and perfecting the use of AI in retail forecasting, planning and operations for nearly a decade. Its tools for planning, forecasting, merchandising and pricing enable retailers to make smart data-based decisions rather than relying on last year’s figures to forecast and plan this year’s business.

 Products

  • PriceSmart

    Build Effective Pricing Strategies and Improve Profits
     

    AI-powered PriceSmart™ by Impact Analytics leverages the latest trends, price elasticities, competitor pricing, and more to drive initial (or base) pricing, promotional, markdown, and clearance pricing decisions that maximize profitability.
     

    Key Features

    • Customizable pricing strategy templates

    • Dynamic price elasticity analysis

    • Comprehensive price performance analytics

    • Full life cycle pricing management

    • "What-if" scenario simulations

    • Tailored business configurations

    • Automated markdown and dynamic pricing recommendations

     

    Benefits

    • Maximizes revenue with optimal pricing

    • Increases profit margins efficiently

    • Improves competitiveness through strategic pricing

    • Enhances decision-making with data-driven insights

    • Boosts customer satisfaction with fair pricing

    ...

  • AssortSmart

    Optimize Assortments, and Improve Margins and Turns

     

    AssortSmart leverages AI to simplify, localize, and optimize the assortment process. Our AI-powered retail assortment planning solution helps you build a strategy with localized consumer demand patterns, leading to increased customer satisfaction, improved turns, and gross margin growth. 

    Key Features

    • Size curve and pack optimization

    • Customer-centric, location-driven assortments

    • Intelligent store clustering for optimal sales

    • Automated hindsight analysis and plan comparisons

    • Store-level assortment validation

    • Dynamic inventory management

    • Real-time data analytics and reporting

    Benefits

    • Maximizes sales with tailored assortments

    • Increases profitability through smart clustering

    • Enhances inventory accuracy and efficiency

    • Improves customer satisfaction with precise sizing

    • Streamlines planning with automation and insights

    ...

  • InventorySmart

    Streamline Inventory Allotments and Optimize Inventory Flow
     

    InventorySmart leverages AI and ML to predict future demand at the SKU/location level, ensuring you have the right product in the right place at the right time. It ensures efficient inventory optimization by leveraging predictive analytics for the greatest accuracy on what, when, and where to push allocations and pull replenishment orders.
     

    Key Features

    • Automate inventory allotments

    • End-to-end inventory optimization

    • Real-time inventory tracking and reporting

    • Demand forecasting and planning

    • Comprehensive stock level management

    • Customizable dashboards and analytics

     

    Benefits

    • Boosts inventory accuracy and efficiency.

    • Maximizes sales with optimal stock levels.

    • Reduces overstock and stockouts.

    • Enhances decision-making with real-time data.

    • Improves profitability through precise planning.

    ...

  • ForecastSmart

    Enhance Forecast Accuracy and Agility with AI-Powered Forecasting

     

    ForecastSmart generates accurate forecasts using machine learning for all SKUs at the store, style, or any hierarchy level throughout their entire lifecycle. Its powerful models enhance forecast precision to highly reliable levels. Its visual component enables planners to clearly understand the impact of different variables on demand and adjust these levers based on real-time exceptions for more agile and effective demand planning.

     

    Key Features 

    • Roll up/down plans easily

    • Validate and adjust forecasts

    • Real-time exception management

    • Integrates with legacy processes

    • Handles volatile, low-volume scenarios

    • Collaborative demand planning workflows

    • End-to-end supply chain visibility

    Benefits

    • Boosts demand forecast accuracy

    • Reduces inventory carrying costs

    • Increases service levels and efficiency

    • Improves responsiveness to market changes

    • Optimizes supply chain performance

    ...

  • PlanSmart

    Elevate Financial Performance with Strategic Merchandise Planning

     

    PlanSmart is an AI- and ML-powered merchandise financial planning tool. It uses long-range forecasts to generate optimized plans based on key constraints and strategic objectives at multiple levels of the product hierarchy. It leverages unlimited data and AI for scenario modeling, budgeting, forecasting, and revenue planning instead of static spreadsheets. 

     

    Key Features

    • Top-down and bottom-up planning

    • Pre-season and in-season planning

    • Auto-updates with re-forecasted data

    • Scenario planning and version control

     

    Benefits

    • Improves financial planning accuracy

    • Enhances agility with real-time updates

    • Boosts profitability through better planning

    • Streamlines planning with automation

    • Facilitates strategic decision-making

    ...

Categories

Big Data
  • Forecasting
    • E-Commerce
  • AI Recommendations
    • Merchandising
  • Assortment/Category Management
  • Forecasting
  • Planning and Execution
  • Price, Promotion and Markdown
    • Supply Chain
  • Fulfillment & Replenishment Services
  • Inventory Control Systems
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