Low-cost AI strategies for retail promised by veteran analyst Richard Hyman
Greater forecasting accuracy, improvements to price optimisation and increased operational efficiency are among the benefits to retailers and suppliers promised by Aria Intelligent Solutions which blends proven business consultancy and advanced data-lead AI technology.
The new company has been formed through the merger of Thought Provoking Consultancy and Aria’s Science. Director of Strategy at TPC is Richard Hyman, the well-regarded and long-serving retail analyst who founded the Verdict Research organisation in 1984 before selling it in 2008. Hyman set up TPC in 2012.
His new colleagues at Aria Intelligent Solutions are CEO Subir Gupta and Chief Data Scientist Debonil Chowdhury. Aria’s Science was founded in 2018. The three partners have worked with the likes of Primark, John Lewis, The Very Group, Currys, Roche, and Unilever. They say they intend to "revolutionise" the retail, consumer packaged goods (CPG), hospitality, and pharmaceutical sectors.
Their goal is "to increase client margins and productivity through the optimisation of inventory management, pricing strategies, and operational efficiency".
Hyman said: "Consumer markets everywhere are under unprecedented pressure, with too much supply and too little demand, as wars and weather impact costs and spending power, and leadership teams are having to make vastly more decisions with greater frequency. AI is increasingly touted as a potential solution, though it is not plug-and-play – every business is different and needs experience and specialist support. This is the market rationale for merging our two businesses, where we can best provide this support."
Gupta, who, added: "How to harness AI and where to start is increasingly top of mind at the boards of consumer companies. This merger offers clear answers to these critical questions based on hard practical experience with leading companies that we work with. TPC has worked successfully with Aria’s Science for years and this merger will further leverage each other's capabilities."
The team will host an exclusive invitation-only launch event on Wednesday 19th February in London.
