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Tuesday, June 22, 2010

DemandTec and Target

We saw DemandTec during their early days as a revenue management system. An impressive and sophisticated approach. Gigaom posts a good article on their work with Target.

" .. DemandTec, a retail-forecasting software provider, has convinced Target Corp. — an existing customer — to hand over even more of its shopping data in order to better set prices and forecast demand. Target is following a growing trend in retail that involves using more granular customer data to predict demand, thanks to advances in software and technology. But stores still need companies like DemandTec to help them turn the plentiful straw of digital data into predictive gold, a service that becomes more challenging as more data is introduced ... "

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