Summary

• Not all retail technology is created equal. 
• To stay ahead, retailers need a solution with real-time, high-quality data, connected insights, advanced AI, and actionable intelligence to drive smarter decisions and better results.
• EDITED’s True Retail Intelligence solution is unique in four critical areas that all retailers should consider before selecting retail technology for their business. 

Introduction

In today’s digital age, everyone knows that having an AI-powered retail intelligence tool is indispensable for keeping up with the ever-evolving, increasingly competitive retail landscape. 

But, not all retail technology is created equal.

If you want exceptional results, you need an exceptional tool. EDITED offers four unique fundamentals you should know about before making a decision when shopping for a retail intelligence solution.

Unmatched Data Set

The insights you get from retail technology are only as strong as the data they come from.   

When selecting a tool, you want to ask about the data’s frequency, depth, and breadth. 

Crawling frequency can vary by tool; for the most up-to-date data, you’ll want a solution like EDITED that scrapes daily, versus one that only scape weekly. 

EDITED also covers the widest breadth of SKUs and regions – we track 140K retailers and 5B+ SKUS across 110 countries. 

And, while some solutions build you crawlers when you start working together, this lacks historical context. EDITED provides 12+ years of historical data on top of real-time data to provide the depth of context you need for fully informed decisions.   

Triple Lens Clarity

With the plethora of data to consider, you might be looking at your competitors’ assortment makeup, your transactions, or customer behavior data at any given moment. 

All of this data is relevant and should be taken into consideration. However, by looking at this information in silos, you don’t get a complete, contextualized picture. 

To truly understand your performance, you need a tool that connects competitive data with your business and customer data in one place. EDITED is unique in bringing these three data sets together in one place, giving you a view that is market-informed, profit-aware, and customer-centric. 

When these three lenses are connected, retailers gain full clarity and can make better, data-driven decisions. 

AI Inside

Your retail solution can only do the above if it has integrated advanced AI technology into its solution. 

Many platforms say they are using AI, but are really just catering to the buzzword hype. EDITED’s retail intelligence solution ingests and processes data through a proprietary retail-specific data science model.

Our advanced AI technology includes: 

1. Machine learning for data normalization and categorization. 
2. Embedding for product matching and opportunity identification.
3. Generative AI to interpret dashboard data and provide summaries.  

Insights Beyond Averages

Many traditional retail tools show you high-level dashboards based on averages, but stop there. For retailers who want to take action, not study reports, the critical next step is accessing connected data with next-level insights that make it clear where to take action.  

Instead of simply showing a “9% conversion rate,” EDITED goes further to provide more specific insights into your business and the relevant context, such as, “Your business has $20M in inventory with a 0% conversion rate.”  

Conclusion

If you aren’t currently utilizing comprehensive AI-powered retail technology, you can be certain your competitors are – and there is still time to start. 

With an unmatched data set, triple lens clarity, integrated AI, and insights beyond averages, EDITED’s True Retail Intelligence Solution will equip you to navigate the complexities of the market, optimize your product offerings, and deliver exceptional customer experiences.  

Book a demo with EDITED and see how our comprehensive retail technology can deliver all of these benefits and more.