First Insight, Inc., world leader in Next-Gen Experience Management (XM) that is transforming how companies make better decisions leading to a sustainable future, today announced its largest product release in the last 5 years – a result of First Insight’s significant investment into its R&D and technology during the pandemic.
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“This Assortment Analysis capability is proven and effective, and it integrates seamlessly into planning systems to improve accuracy and ROI.”
“For more than a decade, First Insight has been helping retailers and brands make better decisions, reducing waste, creating more sustainable businesses and improving the environment for all of us,” said Greg Petro, CEO of First Insight. “During the pandemic, while others were cutting spending, we increased our investment in engineering and R&D. First Insight consistently invests more into product development as a percentage of revenue than anyone in our industry to provide unprecedented value creation to our customers through proven and powerful new capabilities.”
First Insight’s expanded Customer-Driven Assortment Analysis solution recommends product assortments that significantly increase revenue and margin by extending customer reach. The recommendations build on First Insight’s proven product-level results to enable merchandisers, marketers and product teams to simulate the performance of an entire assortment with various customer segments and personas. Users can see in real-time how the addition or removal of products affects the ability of the assortment to drive incremental reach towards key targeted customer segments. “While others dream about filling the assortment gap, after years of R&D and customer feedback, First Insight has now brought the customer’s voice into the assortment planning process,” Petro said. “This Assortment Analysis capability is proven and effective, and it integrates seamlessly into planning systems to improve accuracy and ROI.”
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The new release also includes Reference Item Automation that significantly streamlines workflows and enhances the ease of use of the First Insight platform. First Insight continues to focus on eliminating any barriers to building and deploying powerful insights into the market by automating insight builds. “We listened to our customers – some of the best retailers and brands in the world – and worked to eliminate any friction points and workload on them to create an insight. It has paid off in our ability now to deploy insights without needing a person to find and load a reference item. This capability allows even greater scale, less work and further deployment of our superior scientific models to deliver accuracy and value to our customers,” added Petro.
Finally, First Insight is pleased to announce that InsightSuite has deployed the newest proven technological components available, allowing for unlimited scale, seamless integrations with many systems, speed that is unparalleled in the industry and the latest advancements in security. The components enable First Insight customers to collaborate seamlessly using streamlined workflows through integrations with key business systems. This builds and expands extensively on the collaboration and system integration capabilities that First Insight has offered since 2014, when the company announced its integration with PTC. “It is and continues to be our mission to provide a single 360-degree view of the customer to all departments within a company so that they can understand and serve them better,” said Petro. “It is critical that First Insight work tirelessly to provide the best understanding of the customer, product, and price, to enable decision makers to reduce waste and improve performance through better decisions.”
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