Boston, MA - May 16, 2016 -- 2015 was a big year in the growth and development of Celect, across all dimensions – our customer base, our partner community, our product, our team, and the market opportunity we see in front of us. With each of these elements coming together, 2016 promises to be no less exciting.
The obvious place to start is with our customers. The past year saw over a dozen new customers adopt the Celect Optimization Platform, with a combination of hard line and soft line retailers utilizing the Celect Engine to optimize their merchandising, planning, and allocation operations. We recently announced our partnership with the team at Urban Outfitters, a multi-brand, global specialty retailer who epitomizes to us what it means to be innovative in a quickly changing retail environment.
Beyond traditional retail, the power of Celect’s Choice Modeling approach is assisting a global beverage distributor optimize which products to suggest to their customers and a global car sharing service make sure the right vehicle to meet your needs is available in a parking spot near you (think about it…it is Assortment Optimization with a twist).
Celect’s growing partner community continues to help us evolve the product in interesting ways and introduce us to some great new customers. In particular, Kurt Salmon, a global management consulting firm with deep expertise in retail has enabled core members of their staff on the Celect platform to assist in driving deeper and more granular predictive analytics as part of their consulting engagements.
As a young, growing company, people will often ask us casually, “How’s it going?” As described above, it’s going really well. But the one thing I will always bring up is the fact that in the technology business, timing is a really important part of the equation. Is the market ready? On this topic, I believe very strongly that our timing could not be better.
Every conversation we have with a retail executive includes the very clear acknowledgement that they need to make better use of their data to make more informed merchandising, planning, and allocation decisions. There is a clear understanding that the retailers who are going to win are the ones who truly understand how their customers and products interact, and can discern from this the true demand for their assortment of products. Finally, the science and technology has caught up, and we at Celect are excited to be there first.
- John Andrews