RichRelevance & Manthan form new AI company Algonomy

22 Jan '21

3 min read

Pic: algonomy

RichRelevance, a global leader in experience personalisation, and leading cloud analytics provider, Manthan Software, have announced that they have completed their merger to form a new, rebranded company Algonomy. The new company Algonomy allows companies to rapidly unify all customer data in a single platform for real-time AI-based decisioning.

“With Algonomy, retailers of all sizes can finally place ‘digital’ at the core of their business to orchestrate, personalise, and activate customer journeys, designed to drive immediate engagement, lift and ROI across the lifecycle. The new company uniquely brings together a proven real-time customer data and analytics platform, an intelligent ensemble-based algorithmic decisioning engine, and deep expertise in global retail to help brands engage customers with contextually relevant personalised experiences. More than 400 leading retailers, consumer brands, quick serve restaurant chains, convenience stores and more rely on Algonomy to eliminate the imprecision of manual decision-making and gain organisation-wide agility in a digitally shifting retail environment,” Algonomy said.

Marketing clouds tend to be generic and horizontal, which is why Algonomy’s out-of-the-box algorithms are actionable and designed specifically for retailers. And unlike start-ups and point solutions which solve small pockets of problems, Algonomy has a proven real-time customer data and analytics platform that is built to deliver immediate results at scale. By eliminating the fragmentation of decisioning, Algonomy ensures that there’s a unified customer journey and smooth experience across both stores and digital touch-points. In addition, Algonomy provides a single platform for marketers, merchandisers, commerce, and buyers/planners, with specific vertical solutions for QSRs, Grocery, Fashion/Apparel, and Specialty. Algonomy can help drive double digit increases in digital revenue, and immediate time to value across acquisition, conversion, growth and loyalty, according to a press release by the company.

Algonomy solves foundational business challenges algorithmically using AI-driven analytics in combination with industry-leading personalisation tools, unified in a single end-to-end platform that is built specifically for retail and that streamlines implementation. Guided by the strategies and desired outcomes retailers define, Algonomy maximises operational agility and delivers hyper-personalised experiences throughout the customer lifecycle. Using Algonomy, retailers can activate an integrated, cloud-based, real-time customer data platform with pre-built connectors allows companies to easily centralise all customer data, whether it be structured or unstructured, online or stores, and create a living golden customer record, Algonomy said in a media statement.

Algonomy will allow marketers to digitally reinforce their brand story and act in real-time to engage each customer with contextually relevant inbound and outbound campaigns that accelerates acquisition and amplifies loyalty. Merchandise analytics and supply chain solutions will help retailers align supply with demand, automate key merchandise processes, provide prescriptive recommendations for timely course corrections to price and inventory, and transform vendor relationships through data monetisation.

Commerce leaders can turn every digital interaction across web, mobile, call centre, kiosks, point-of-sale, and more, into a personal experience with Xen AI Experience Optimizer, a patented, contextually sensitive and continuous algorithmic testing engine which ensures that the right decisions are being made automatically with every interaction in real time.

Fibre2Fashion News Desk (GK)

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