Profitect’s New Predictive Shrink Technology Also Honored for Innovation at Awards Ceremony
WALTHAM, MA – April 19, 2017 – Profitect Inc., the leading prescriptive analytics provider for the retail industry, today announced its second consecutive win of the Retailers’ Choice Award at the 2017 RILA Retail AP Conference. The recognition, which came alongside a second place win for the company’s new shrink prediction capabilities at the 2017 (R)Tech Asset Protection: Innovation Awards, confirms Profitect’s ability to provide retailers and CPG companies the intelligent solutions needed to minimize loss and compliance issues and maximize results with ease.
“Each year, we ask companies to bring us their game-changing technologies and each year, they deliver and exceed expectations. This year in New Orleans was no different,” said Lisa LaBruno, RILA’s senior vice president of retail operations. “Recognizing innovations across the industry and learning more about how we can implement them to improve the field of asset protection are what the Awards are all about.”
The (R)Tech Innovation Awards recognized Profitect as the Retailers’ Choice overall. Additionally, the company’s new shrink prediction capabilities – which leverage machine learning to cluster stores based on historical data and behaviors to provide an accurate view of current and future shrink – was awarded second place. The solution identifies high-risk trending stores before they reach the point of critical mass – recommending appropriate, easy-to-understand actions for store managers and associates to take to prevent problems before they arise.
“The enthusiasm for prescriptive analytics was everywhere at this year’s RILA conference,” said Guy Yehiav, CEO of Profitect. “Between our presentation with ascena retail group on uncovering the ugly truths lurking in data, Walgreens also presenting on prescriptive analytics and our VP of Industry Solutions being featured on a panel discussion on BI & analytics – it was a prominent theme throughout the show. When we were recognized twice by the RILA Awards Committee for Innovation and Retailers’ Choice, it was a phenomenal way to cap off the conference. One of our greatest achievements has been our relationship with our customers and we are proud that our work with them has been recognized for delivering real results quickly.”
Recipients were announced during the RILA awards ceremony on April 11, 2017 in New Orleans, LA. To learn more about Profitect and the company’s award-winning prescriptive analytics solutions please visit www.profitect.com or follow the company on Twitter and LinkedIn.
About Retail Industry Leaders Association (RILA)
RILA is the trade association of the world’s largest and most innovative retail companies. RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs and more than 100,000 stores, manufacturing facilities and distribution centers.
Since 2012, Profitect has helped companies leverage existing big data investments to identify, resolve, and measure opportunities to transform the business by delivering actionable prescriptive analytics to the right person, at the right time.