Leading Scandinavian retailer employs automated product monitoring for large scale, highly accurate price benchmarking

To keep pace and remain profitable we need to be able to track and monitor thousands, if not tens of thousands of products, across a multitude of competing retailers daily and in an efficient and cost-effective way.
By 2023, 80% of organizations using AI for digital commerce will achieve at least 25% improvement in customer satisfaction, revenue or cost reduction.
Modern retailing requires a near real-time understanding of market prices, stock levels and competitor activity. Being out of touch for even a short period of time can be costly in terms of profits and customer footfall.

Manually keeping track of thousands of products is not practical and relying on quickly outdated field reports or desk reports is costly and offers restricts accuracy.  Automated data extraction is needed to deliver the volume, freshness and detail of data needed by analysts and ultimately the business leadership to make better decisions.

Dexi’s automated digital data capture technology using intelligent extractor robots is employed to monitor price and stock levels across 50 + retailers daily; including comprehensive product information containing metadata and specific data from pre-determined product-category lists. Extracted data is processed and aggregated across different retailers using built-in features to create specific datasets and allow rapid dictionary mapping that allows the robots to learn and increasingly minimise human intervention over time.

Implementation of Dexi has delivered rapid price benchmarking and valuable snapshot of competitor stock levels that allow the retailer to act more quickly and accurately to customer demand and competitor gaps.

Leading Scandinavian retailer employs automated product monitoring for large scale, highly accurate price benchmarking

To keep pace and remain profitable we need to be able to track and monitor thousands, if not tens of thousands of products, across a multitude of competing retailers daily and in an efficient and cost-effective way.
To keep pace and remain profitable we need to be able to track and monitor thousands, if not tens of thousands of products, across a multitude of competing retailers daily and in an efficient and cost-effective way.

SITUATION

Modern retailing requires a near real-time understanding of market prices, stock levels and competitor activity. Being out of touch for even a short period of time can be costly in terms of profits and customer footfall.

CHALLENGE

Manually keeping track of thousands of products is not practical and relying on quickly outdated field reports or desk reports is costly and offers restricts accuracy. Automated data extraction is needed to deliver the volume, freshness and detail of data needed by analysts and ultimately the business leadership to make better decisions.

SOLUTION

Dexi’s automated digital data capture technology using intelligent extractor robots is employed to monitor price and stock levels across 50 + retailers daily; including comprehensive product information containing metadata and specific data from pre-determined product-category lists. Extracted data is processed and aggregated across different retailers using built-in features to create specific datasets and allow rapid dictionary mapping that allows the robots to learn and increasingly minimise human intervention over time.

BUSINESS VALUE

Implementation of Dexi has delivered rapid price benchmarking and valuable snapshot of competitor stock levels that allow the retailer to act more quickly and accurately to customer demand and competitor gaps