Slyce Inc.

Slyce Inc.

September 17, 2015 08:30 ET

Slyce Introduces First Visual Search-based Analytics Platform 'Slyce Insights' for Retailers

Enterprise Data Analytics Offering Provides Valuable Mobile Shopping Insights

TORONTO, ONTARIO--(Marketwired - Sept. 17, 2015) -

Editors Note: There is a video associated with this press release.

Visual product search platform Slyce Inc. ("Slyce" or the "Company") (TSX VENTURE:SLC) today announced the launch of 'Slyce Insights', the industry's first data analytics service that extracts meaningful data in a contextual format from product images, providing a unique look at how consumers are leveraging visual search to enhance their shopping experiences. The platform's user-friendly dashboard provides easy navigation through numerous buyer behavior metrics, helping retailers make enterprise-wide marketing and merchandising decisions.

Forbes Insights reports that brands leveraging data are three times more likely to have increased revenues than brands that neglect data. "It has been a goal of ours from the beginning to provide our customers with a unique data stream to guide strategic decision making," said Slyce CEO Mark Elfenbein. "Slyce Insights empowers our retail partners to better understand their own customers through analyzing the rich data from user-generated product images and contextually presenting it in a meaningful way. Continued advancements in the analysis of this 'Big Data' will enable us to provide even deeper, actionable insights over time.."

Slyce Insights will allow retailers to filter data by criteria such as top snapped brands, hot product types, attractive colors per product type and visual search geographical distribution.

"When search data includes highly complex visual search, new measurement tools are needed to analyze and act upon the information," said Omer Koreh, head of analytics at Slyce. "Slyce Insights provides unlimited dimensions of customized data views with strict security of business data. We allow retailers to compare their own visual search data against Slyce's aggregated market data for a holistic look at buying behavior in and out of store."

The new service will be available to retailers through a tiered offering, and Slyce expects to derive revenue via monthly licensing fees. All retailers, both those using Slyce's white-label platform and those who do not, may subscribe to the entry-level version of Slyce Insights which provides aggregated industry data. Slyce's white-label retailer customers that contribute their anonymized data to the service are eligible for a premium offering which provides the ability to compare their data against the industry and delivers deeper levels of analysis. Retailers can allow access to others in their organization on a per-seat basis.

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About Slyce Inc.

Slyce (TSX VENTURE:SLC)(FRANKFURT:06O1) delivers sophisticated 3D visual search technology that empowers limitless customer engagement applications for companies and consumers starting with the simple snap of a photo on a mobile device.
Based in Toronto, ON, the Company delivers its technology as a white-label visual search platform allowing retailers to increase customer engagement and through its family of consumer mobile apps. Slyce's technology is used by premier, large retail brands like Niemen Marcus, Tilly's, JCPenney and Home Depot.

For image download and further Company information please click for the Slyce Media Kit.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Statements in this press release contain forward-looking information including, without limitation, Slyce's business plan, strategy and related milestones, Slyce's suggestions of future outcomes, the future use and development of its technology, future customers and business partners. The words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Slyce.

Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Slyce.

Slyce does not undertake any obligation to update or revise any forward-looking statements except as expressly required by applicable securities laws.

None of the information contained on, or connected to, Slyce's website is incorporated by reference herein.

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