Andrews: Celect delivers 5-7% revenue growth and up to 14% margin lift
John Andrews · 1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR · May 10, 2018 · at 7:39
John Andrews, executive at retail predictive analytics platform Celect, discusses the performance improvements achieved by retail clients using Celect's choice modeling engine.
0:00 / 0:13exact quote · 13.3s
720p mp4 · rendered on demand · StarZero watermark
“When you do that right, we've seen customers with anywhere from You know, at points, five to seven percent increase in revenue to, you know, upwards of, you know, 13 to 14% increase in gross margin.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from John Andrews
Andrews: Retail choice modeling doesn't require granular in-store sensor tracking
“The reality is, Nathan, is that you don't actually need that level of granularity to get the signal out of understanding customer preference, right? Part of the technology, you need to identify what the selection set is that people are likely looking at just b…”
Andrews: Traditional retailers have sparse customer-product interaction data
“The challenge that other retailers have, even though they feel as though they have a lot of data, the issue is, is that they actually have very sparse data about an individual customer that And individual products and specifically with those customers interact…”
Andrews: Low-volume enterprise SaaS makes standard churn dashboards difficult
“It's a really hard thing to, it's a really hard thing to measure, right? If our model was, you know, Hey, download something from you know, from our website, put your credit card in, we've got thousands of customers. You can measure based on cohorts much, much…”
Andrews: Celect counts Urban Outfitters and Saks Fifth Avenue as customers
“Our customers include folks like Urban Outfitters, Anthropologie, Free People, Aldo, Montreal, up in Montreal, the shoe manufacturer, designer, and retailer, Saks Fifth Avenue, etc.”