Absolutdata, a leader in delivering scalable business impact through AI-powered solutions, advanced analytics, and data science services, today announced that it has won the ‘Best Data Science Project in the FMCG category’ at the 3rd annual Great Learning Data Science Awards 2019. Cypher is India’s largest Analytics & AI summit. In its 5th year, the platform provides an opportunity to network and learn from innovators and thought leaders in Analytics, Data Science and Artificial Intelligence disciplines. The 3rd annual Great Learning Data Science 2019 Awards put the spotlight on the industry’s movers and shakers who are creating innovative solutions.
Absolutdata’s groundbreaking AI-enabled solutions and services are built on 15 years of experience in advanced analytics. The company’s Data Science Center of Excellence develops and delivers powerful AI solutions, products and modular components so that clients can create scalable business impact with their AI initiatives.
The FMCG (fast-moving consumer goods) sector is arguably one of the most unpredictable spaces, given a large number of variables and lack of quantitative metrics to match. This is where Absolutdata’s NAVIK AI Platform stepped in to bridge the gap for a Fortune 100 beverage company, by helping the client identify revenue growth opportunities in a matured, saturated market. This required an AI-enabled platform to build multiple tools for different business cases.
To address the challenge, Absolutdata created a custom-made solution. It comprised of a robust state-of-the-art recommendations engine (an ensemble of deep and wide neural networks, KNN (K-Nearest Neighbours), collaborative filtering, and business rules) to recommend an optimized beverage assortment for the foodservice operator, with details on the expected increase in volume, revenue, and incidence.
The highly scalable, fully automated self-learning solution solved one of the most burning problems i.e. striking an optimal trade-off between existing and new product recommendations in a varied landscape.
Dr. Anil Kaul, CEO & Co-Founder, Absolutdata said, “At Absolutdata, we pride ourselves on creating and deploying scalable business solutions that produce a sustained, measurable impact for our clients. It feels great to have one of our solutions be recognized for delivering strong results on a stage as grand as the 3rd Great Learning Data Science Awards. We will continue to empower existing clients, deliver impact to new clients, and expand the business capabilities of the NAVIK AI Platform.”