Periscope™, a McKinsey Solution, focusing on price, promotion, and assortment optimisation, has announced that it has acquired 4tree, a Big Data solution company serving retail, fast moving consumer goods (FMCG) and B2B industries.
The increased focus on consumer-centric and loyalty programs have created opportunities for retailers to differentiate from the pack and accelerate gains in the battle for growth, margin and customer loyalty. McKinsey research has shown that retailers who use Big Data effectively to inform merchandising decisions are more successful than their competitors, more than doubling growth rates and achieving significantly higher margins.
With this acquisition, Periscope is able to bring clarity to customers’ buying behaviour at near real-time speed, enabling improved assortments, promotions, next-product-to-buy recommendations, and product pricing.
Brian Elliott, CEO of Periscope, stated: “Companies are always seeking a better understanding of how customers make purchasing decisions with the range of products, prices and promotions available to them. 4tree allows us to integrate customer data at scale and generate actionable insights fast enough to enable dynamic assortment, pricing and promotions.”
4tree’s client-facing Big Data solution will be rebranded as Periscope Customer Insights Solution.
Sebastian Hanhues, founder and CEO of 4Tree said: “4tree developed a powerful platform for retail companies that empowers decision making with on demand, fact-based analytics and accurate forecasting. Our highly scalable Big Data platform analyses billions of buying interactions happening at the point of sales in real-time. It provides a powerful user interface to understand the buying behaviour of customers and how different merchandising levers affect customer loyalty.”
Sebastian will now continue as Periscope Customer Insights Solution General Manager, continued: “We very much look forward to bringing together our leading edge IP and innovation in Big Data Management to Periscope’s growing portfolio of commercial transformation capabilities, enabling success for organisations on a global scale.”
The 4tree team will continue to operate out of its existing office in Muenster, Germany and leverage the global footprint of Periscope to better serve existing and new customers.