First Insight, Inc., the world’s leading technology company that is transforming how companies make products and service creation, pricing and marketing decisions, has been named as a Sample Vendor in Pricing Optimization by Forrester, the leading global market research company that helps organizations exceed customer demands and excel with technology in the Forrester Tech Tide™: AI and Analytics for Retail, Q2 2021 report. The report was written by Sucharita Kodali, Madeline Cyr, George Lawrie and Brendan Witcher and published in May 2021.
Forrester assessed and analyzed the maturity and business value of the most commonly implemented or discussed technology categories that support AI and analytics for retail. First Insight was noted as a sample vendor in pricing optimization.
“We are proud to be identified as a pricing optimization sample vendor in The Forrester Tech Tide™: AI and Analytics for Retail and are confident that our solutions are helping retailers and brands determine the best price for an item, which is one of the most significant challenges in retail,” said Greg Petro, CEO of First Insight. “By utilizing the Voice of the Customer and predictive analytics, retailers and brands now have access to tools that leverage data to better understand and optimize initial price, gross margins and markdown cadences for maximum growth and profitability.”
Founded in 2007, First Insight is one of the world’s leading Experience Management (XM) platforms that empowers companies to incorporate the Voice of the Customer into the design, pricing, planning and marketing of products and service offerings. Through the use of online consumer engagement tools, the First Insight platform gathers real-time consumer data and applies predictive analytic models to create actionable insights, which drive measurable value. Customers include some of the world’s leading vertically integrated brands, sporting goods companies, department stores, consumer products companies, mass merchant retailers and wholesalers. First Insight’s accurate, scalable, high-speed solution can significantly reduce time to market, enabling companies to capitalize on winning products ahead of their competition. Retailers and brands benefitting from First Insight’s technology have been able to increase revenues and gross margins by 4-10%, reduce markdowns by 25%, cut 40% on product development cycle and time to market, and improve the success rate of new products by 80%.
If you are a Forrester client, you can access the report here.
About First Insight, Inc.
First Insight is one of the world’s leading Experience Management (XM) platforms that empowers companies to incorporate the Voice of the Customer into the design, pricing, planning and marketing of products and service offerings. Through the use of online consumer engagement tools, the First Insight platform gathers real-time consumer data and applies predictive analytic models to create actionable insights, which drive measurable value. Customers include some of world’s leading vertically integrated brands, sporting goods companies, department stores, consumer products companies, mass merchant retailers and wholesalers. For further information, please visit www.firstinsight.com.
About Forrester
Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We help leaders across technology, marketing, customer experience, product, and sales functions use customer obsession to accelerate growth. Through Forrester's proprietary research, consulting, and events, leaders from around the globe are empowered to be bold at work — to navigate change and put their customers at the center of their leadership, strategy, and operations. Our unique insights are grounded in annual surveys of more than 675,000 consumers, business leaders, and technology leaders worldwide; rigorous and objective research methodologies, including Forrester Wave™ evaluations; over 52 million real-time feedback votes; and the shared wisdom of our clients. To learn more, visit Forrester.com.
