In a recent development, Manthan Software, the leading cloud analytics provider & RichRelevance, the global leader in experience personalisation, today announced that they have completed their merger to form a new, rebranded Martech AI company called Algonomy.
The newly formed company, Algonomy will Power ‘Digital First’ as the ‘New Normal’ for the retailers and brands across the globe. It will do so by rapidly unifying all customer data in a single platform for real-time AI-based decisioning.
Derived from a combination of words — “algorithms” (algo) and “knowledge” (nomy), the name Algonomy illustrates that the future of retail is algorithmic.
With Algonomy, retailers of all sizes can finally place ‘digital’ at the core of their business to orchestrate, personalise and activate customer journeys to drive immediate engagement and ROI across the lifecycle.
The company stated that its proven real-time customer data and analytics platform along with an intelligent ensemble-based algorithmic decisioning engine, and deep expertise in global retail will help brands engage customers with contextually relevant personalised experiences.
“As we saw during the pandemic, our customers have seen the importance of being able to quickly pivot to become digital-first, and leverage AI to make quick decisions” said Algonomy CEO Atul Jalan, who previously served as Manthan Software’s CEO. “Our Algorithmic Customer Engagement (ACE) platform has the power to transform retailers into algorithmic businesses that are responsive to individual consumers, delivering the hyper-personalised experiences that drive sales and loyalty.”
More than 400 leading retailers, consumer brands, quick serve restaurant chains, convenience stores and more rely on Algonomy to eliminate the imprecision of manual decision-making and gain organisation-wide agility in a digitally shifting retail environment.
Sarath Jarugula, who previously served as the CEO of RichRelevance said that rather than sifting through piles of data, retailers can harness machine learning to derive actionable insights, set strategies, and achieve goals, while retaining granular control of algorithmic behavior, as Algonomy offers the most robust, real-time machine learning solution built for the retail industry. Jarugula serves as the Chief Product Officer at Algonomy.
Using Algonomy, retailers can:
- Activate an integrated, cloud-based, real-time customer data platform with pre-built connectors allows companies to easily centralise all customer data.
- Allow marketers to digitally reinforce their brand story and act in real-time to engage each customer with contextually relevant inbound and outbound campaigns that accelerates acquisition and amplifies loyalty.
- Automate key merchandise processes, provide prescriptive recommendations for timely course corrections to price and inventory, and transform vendor relationships through data monetisation.
- Commerce leaders can turn every digital interaction across web, mobile, call center, kiosks, point-of-sale and more, into a personal experience
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