PONTE VEDRA, Fla.--(BUSINESS WIRE)--Digital Wave Technology, a leader in AI-native enterprise solutions for consumer industries including retail, consumer goods, and healthcare, ushers in the second wave of AI applications with the ONE™ Platform. The AI-native platform puts Master Data Management (MDM) and product information intelligence at its core, fueling a unified data approach to how grocers and CPGs manage pricing, forecast product demand, and optimize the supply chain.
In the first wave of AI applications, companies layered GenAI and predictive analytics solutions onto legacy platforms, which creates data silos and gaps in what the AI can achieve. Case in point, a recent Coresight Research report found that, on average, consumer goods retailers misprice 10% of their products, and more than half cannot execute at least 10% of their promotional campaigns properly in any given sales period. By putting product information at the center of the platform, grocers, CPGs, retailers, and healthcare companies are securely leveraging AI in a unified way.
Why the ONE™ Platform and a second wave of AI adoption is necessary for grocery
Today, AI-native platforms like the ONE™ Platform must funnel product information management (PIM), digital asset management (DAM), and MDM results into native-AI and GenAI solutions to provide a unified source of truth. The result is a singular platform that facilitates consistent, accurate, and accessible data to ignite cross-functional collaboration and drive revenue growth.
The ONE™ Platform drives interconnected business benefits, including:
- Integrated category planning and inventory management to prevent stockouts and overstocks.
- Automated workflows that eliminate data silos and provide all business users with access to the same information, boosting efficiencies.
- Advanced analytics to optimize pricing, promotions, assortments, and grow profits.
CPGs and grocers can also leverage the ONE™ Platform for native GenAI applications such as:
- Automated product attributes — Teams save significant time by using GenAI to generate product attributes for online search and navigation, category management, pricing, and inventory planning.
- Content creation — CPGs can generate specific copy or marketing campaigns for each retailer in their network. For example, a CPG company can have AI build specific Halloween-themed ads, letting GenAI produce an image with a tagline and customize the ad in seconds for each unique retailer.
Modern AI solutions like the ONE™ Platform keep companies future-ready by integrating with cloud services, empowering business applications with little or no coding, and supporting programs with advanced security features like encryption and multi-factor authentication. The platform supports consumer companies to develop AI-based solutions rapidly.
“A lack of unified data holds back consumer industries from getting the most out of AI applications,” said Lori Schafer, CEO, Digital Wave Technology. “The ONE™ Platform provides a single source of truth, with PIM and MDM as the foundational layer underneath, greatly improving speed to market for product innovation and driving exponential improvements in profitability, productivity, and customer experience. It’s a game-changer for Digital Wave’s customers.”
To explore the omni-experience of the ONE™ Platform, meet with Digital Wave Technology at Groceryshop, Oct. 7-9, at Mandalay Bay, Las Vegas.
About Digital Wave Technology
Digital Wave Technology provides extensible enterprise AI applications that meet the business-critical needs of global corporations in consumer industries including retail, consumer goods, and healthcare. The company’s single integrated analytical platform offers packaged and extensible applications, as well as the flexibility for rapid development of new solutions, giving customers a competitive edge. Its strategy hinges on relentless innovation and a commitment to delivering unparalleled value through business-use-case-driven technology with impeccable customer service. Digital Wave Technology laid its foundation in enterprise Product Information Management and Master Data Management, which now serves as the common data model underpinning an ever-growing list of best-in-class solutions. Learn more at www.digitalwavetechnology.com.
