SOURCE: Profitect

Profitect

June 23, 2015 08:00 ET

Gartner Lists Profitect in Report

WALTHAM, MA--(Marketwired - June 23, 2015) - Profitect Inc., the leading prescriptive analytics provider for the retail industry, was listed by Robert Hetu, a Research Director with Gartner, in his latest article Retailers Find Success Using Self-Service and Advanced Analytics, published April 24, 2015. Profitect was noted as being one of the advanced analytics providers that specialize in retail.

Hetu noted, "Gartner defines advanced analytics as the analysis of all kinds of data using sophisticated quantitative methods (for example, statistics, descriptive and predictive data mining, simulation and optimization) to produce insights that traditional approaches to business intelligence (BI) -- such as query and reporting -- are unlikely to discover." In order to compete in the digitized marketplace, retailers need to improve their real-time decision making. Hetu states, "Retailers express interest in increasing their use because these tools put information in the hands of business analysts and business users and offer significant potential to create business value and competitive advantage."

Profitect has been cited by Gartner, as one of the providers operating in the Tier 1 retail market. Areas that Profitect's prescriptive analytics can improve include merchandising, omni-channel, store operations, finance, supply chain, delivery and receiving, etc.

"Retailers have been using reports & BI for years, but IT departments and business executives, recognize that these are not actionable or scalable and are difficult to ensure consistent response," said Guy Yehiav, CEO, Profitect. "Retailers benefit from using Profitect's prescriptive analytics solution which ensures they go live quickly and shift their attention from reviewing reports to servicing customers."

About Profitect
Profitect leverages existing big data investments to identify, resolve, and measure opportunities for improvement by delivering actionable prescriptive analytics to the right person, at the right time.

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