Symphony RetailAI has launched SR Promotion PlanningAI, a platform designed to give category managers the prescriptive recommendations they need to accurately forecast and plan promotional events, measure effectiveness and adjust tactics with agility.
The platform’s AI-based forecasting model provides recommendations and what-if analysis, allowing users to adjust the promotion parameters in real time to maximize sales, margins or volumes. SR Promotion PlanningAI also brings the power of artificial intelligence to promotional circulars, to maximize promotional lift and store traffic.
With SR Promotion PlanningAI, retailers can:
- Analyze year-over-year promotion effectiveness to provide recommendations to maximize sales, margin or volume. For example, the solution might suggest that of 10 previous promotions for the Fourth of July, eight performed well, and with slight adjustments, they are forecasted to yield great results again;
- Analyze data of ineffective promotions and provide actionable alternatives to boost sales; and
- Enable users to run what-if tests to see if a percentage discount, dollars off, buy-one/get-one or other promotional tactic is forecasted to be more profitable.
The drag-and-drop functionality of the platform gives further insights into sales lift with optimal placement in circulars — front page, back page or somewhere in the middle.