SOURCE: Celect

Celect

January 08, 2015 12:33 ET

Celect Crowned DEMO God at DEMO Fall 2014

Celect's SaaS Platform Recognized by Industry Experts and Technical Leaders at DEMO for Bringing Groundbreaking Science to Help Tackle Retail's Most Pressing Challenges

BOSTON, MA--(Marketwired - Jan 8, 2015) - Celect, the world's first fully data-driven customer choice modeling suite, was named a DEMO God winner at the Demo Fall 2014 conference held in San Jose this past November. From a pool of thousands, only forty new startups were chosen to launch at DEMO and just five were awarded the prestigious title of DEMO God. From short product pitches, winners were chosen based on style, passion, clarity and overall likelihood that their product will achieve commercial success.

"As one of just 40 companies chosen to launch at DEMO, Celect stood out from the crowd," said Erick Schonfeld, executive producer of DEMO. "Celect has huge potential to change the face of retail as we know it and will be a company to watch over the coming months and years."

Celect's ground-breaking offering, based on machine-learning technology developed at MIT, allows merchandisers, retail planners and inventory analysts to optimize assortments and localize product offerings to create hyperlocal assortments in each store. In turn, these advancements enable retailers to increase revenue and product turnover while fostering better customer experience.

"We're honored to have been chosen as a DEMO God," said John Andrews, CEO of Celect. "The award is a testament to our technology and speaks to gains made by our earliest customers, some of the world's leading retailers."

On the heels of its DEMO God victory, Celect will debut its platform to a wider audience at the National Retail Federation's Retail's BIG SHOW 2015 held in New York next week. Attendees can find Celect at Booth 939.

About Celect
Celect is a big data predictive analytics platform enabling merchandisers, retail planners and inventory analysts to better determine "what to put where." The Celect Optimization Platform, powered by the Celect Choice Engine, allows retailers to understand how a specific customer shopping at a specific location chooses from an assortment of products. The technology builds on a fundamental advance in customer choice modeling and machine learning called by MIT's Computer Science and Artificial Intelligence Laboratory one of the 50 greatest innovations it has ever produced. Celect is founded by MIT professors Vivek Farias and Devavrat Shah and headquartered in Boston's Innovation District. For more information, visit celect.net.

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