TORONTO--(BUSINESS WIRE)--GroupBy Inc., a leading provider of AI-first Search and Product Discovery solutions for B2C and B2B retail, today unveiled Enrich AI, a cutting-edge product data enrichment platform designed to revolutionize product information management. Leveraging sophisticated generative AI algorithms and GroupBy's years of deep retail expertise, Enrich AI empowers retailers to create rich shopping experiences with enhanced product data - driving substantial revenue growth. "Enrich AI represents a quantum leap in data enrichment and product data management," stated Roland Gossage, CEO at GroupBy. “By seamlessly integrating advanced AI with our deep domain expertise in retail, we are delivering a solution that addresses the critical challenges retailers face in managing and optimizing their product data. This sophisticated self-serve platform enables B2C and B2B retailers to achieve unprecedented levels of data accuracy, consistency, and completeness, ultimately optimizing search relevance, merchandising effectiveness, and overall business performance."
Enrich AI harnesses the power of AI to revolutionize product data management. By automating complex data enrichment tasks, Enrich AI accurately extracts, standardizes, and enriches product data based on attributes, descriptions, and images at scale. This streamlined process minimizes costly errors, accelerates time-to-market, and frees up valuable resources for strategic initiatives, while making it easier for retailers to manage their catalogs.
Moreover, Enrich AI leverages GroupBy's extensive proprietary Global Taxonomy Library to ensure consistent and accurate product categorization. By applying a robust, industry-specific taxonomy, developed by GroupBy’s breadth and years of experience working with various retail verticals, retailers can enhance product discoverability, improve search relevance, and optimize merchandising efforts. This granular level of product classification empowers retailers to deliver highly targeted attributes and values for product recommendations and personalized shopping experiences.
To further enhance data reliability and integrity, Enrich AI employs advanced algorithms to detect and correct errors, inconsistencies, and missing information within product data. By improving data quality, retailers can reduce costly returns, enhance customer satisfaction, and build trust in their brand.
Ultimately, by optimizing product discoverability and driving business growth, Enrich AI enables retailers to improve the quality of their data, personalize customer experiences, and increase customer satisfaction. With enriched product data, retailers can unlock new revenue streams, gain a competitive advantage, and thrive in today's dynamic retail landscape.
Key technical features of Enrich AI include:
- Advanced AI Algorithms: Utilize state-of-the-art generative AI models for accurate and efficient data enrichment.
- Product Attribute Intelligence: Fast and efficient attribute enrichment from product image and text data in a single step.
- Deep Retail Expertise: Built on a foundation of industry knowledge and best practices across retail verticals.
- Taxonomy Enrichment: Manage taxonomies tailored to specific product categories based on business needs.
- Product Catalog Management: Automated management of catalogs to maintain enrichment for products that churn.
- Robust PIM/PXM Integration: Seamlessly integrate with existing product information management systems.
- Quality Assurance: Automated data quality checks ensure data accuracy and consistency through continuous monitoring and validation.
- Product Transformations: Involve humans in the loop to quickly curate and edit product values across the catalog.
- User-Friendly Interface: Empower users with intuitive tools for easy data management and enrichment.
- Simplified Integration: Seamlessly access Enrich AI functionality directly from the GroupBy Command Center, eliminating the need for manual data injection and streamlining the enrichment process.
- Expert support: Access professional services for seamless catalog implementation and data enrichment aligned with the proprietary Global Taxonomy Library.
By combining AI-powered precision with GroupBy's deep retail expertise, Enrich AI delivers unparalleled product data enrichment capabilities. Retailers can now unlock the full potential of their product data, gain a competitive edge, and drive long-term business success.
About GroupBy
Founded in 2013, GroupBy is an eCommerce Search and Product Discovery SaaS technology provider that powers some of the largest B2B and B2C brands. GroupBy's AI-first composable platform is bringing next-generation search technology to retailers worldwide, helping to bridge the gap between consumer and merchant. Powered by Google Cloud Vertex AI Search for Retail, the platform consists of Data Enrichment, Search and Recommendations, Merchandising, and Analytics and Reporting providing eCommerce merchants with access to a powerhouse of products and services designed to enhance the digital customer experience. Built on AI fundamentals, the GroupBy platform is transforming eCommerce merchandising from rule-based to revenue-generating, optimizing productivity and efficiencies, and reducing time to market, allowing retailers, wholesalers and distributors to focus on business strategic initiatives that drive revenue. To learn more about how GroupBy is shaping the future of eCommerce visit www.groupbyinc.com and follow us on LinkedIn, Twitter and Instagram.
