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50 Smartest Companies of the Year 2019

Impact Analytics: influencing business decisions by introducing automation based products

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Automation and artificial intelligence (AI) are transforming businesses and will contribute to economic growth via contributions to productivity. They will also help address “moon-shot” societal challenges in areas from health to climate change. At the same time, these technologies will transform the nature of work and the workplace itself. 

Impact Analytics believes in influencing business decisions by introducing various automation based products. The purpose of these tools is to impact sales, marketing and promotional activities of an organization, generating greater profit margin for them than before. The company builds 360-degree data science solutions to empower enterprises to turn their data into dollars. It synthesizes business wisdom from top-tier strategy consultants, advanced machine learning from experienced data scientists and cutting-edge product development by expert application designers and developers to create solutions that enable its clients to win. The team comprises top-tier consultants from McKinsey and BCG, data scientists with advanced machine learning experience and product developers who have built winning mobility products. The organisation brings the best of data science to your team with a delivery model and experience allow it to help clients achieve data science excellence, but at a minimal cost.

Their offerings

PromoSmart

PromoSmart 4.0, automatically designs promotions using advanced AI/ML algorithms which aligns with business objectives and synthesizes decisions across key KPIs. The application thinks for you and optimally designs impactful and profitable promos. This data-based, analytics product is an end to end promotions management portal that helps envision, create and enable businesses to plan, manage and execute their promotions in an efficient manner and create a positive margin impact. The application also houses an intelligent search assistant that takes text / voice command as input and gives relevant information real time reducing decision making process extremely fast and seamless.

PriceSmart

IA’s PriceSmart pricing analytics software processes historical transactions data, competition prices and other market and strategic signals to enable right pricing decisions. This pricing analytics tool determines Price Elasticity at the store-SKU level and helps in identifying pricing recommendation of Key-Value items and Categories. This pricing analytic model is powered by advanced optimization techniques. It marks trajectory management. Moreover, the testing suite enables accurate framing of price change experiments in smaller, low-risk store-sets and rolls across a network with great confidence.

BuySmart

BuySmart V3.0, is an intelligent A.I. powered assortment planning application that optimizes assortment by accurately predicting demand patterns for the upcoming season — resulting in lesser excess overbuys, deep discounts/markdowns, reactive clearance and/or inventory stockouts. This leads to the realization of higher sell-through driving greater margin for the retailers. Its advanced store grouping enables planning offices to create a curated assortment for similar stores. BuySmart is easy to use, has an intuitive workflow and generates customized reports/dashboards that help to make the process seamless and efficient.

Inventory Replenishment Tool

Inventory Replenishment Tool (IRT) is an analytics powerhouse that analyses demand data at granular level and generates the most accurate demand forecast. It is intuitive, simplified and can be installed easily that helps in visualizing, validating and adjusting estimates according to the business demands. Having a high degree of precision, accuracy and flexibility makes it the Go-to virtual inventory manager. Its intuitive workflow helps merchandisers and inventory planners to understand demand forecasts as well as convert these forecasts to inventory orders in the shortest possible time.

TestSmart

Business Leaders need plenty of ideas to improve their marketing and organizational functioning. Choosing a reliable idea is often based on gut feeling. Sometimes this business development idea is often backed by data science. Often, after executing some business projects, doubts linger about its effectiveness. A lack of investigative rigour creates mixed results and hence, a feeling that the study was incomplete or performed inadequately. This is where the use of TestSmart comes into play. TestSmart is a thoughtfully designed business analytic platform to assist different functions and ideas rapidly. TestSmart also iterates tests and validate results.

Merchandising Optimisation

Companies need 100% visibility and accuracy while managing their inventory. Impact Analytics’ merchandising solutions help in reading and analyzing past data. The solution also creates an understanding of the demand for various products and forecast the right quantity of inventory needed by the client.

Meet the CEO who is the driving force behind the organisation, Prashant Agrawal

He is the CEO of Impact Analytics, IA. IA provides Artificial Intelligence and Advanced Analytics solutions to leading companies. It had earned a ranking of 585 on the 2018 Inc 5000 list and to be the number one AI and Advanced Analytics provider. IA has also won P&G's Global AI innovation contest and is working with them on building an AI PoC.

“We have helped our clients save more than $100 million and boost their bottom-line margins.”