SINGAPORE, April 14, 2020 /PRNewswire/ -- Digital Commerce Intelligence (DCI), an AI-driven start-up that tracks real-time eCommerce performance for consumer goods sold online, raised c. SGD 1 million funds from Velocity Partners to further enhance its service across Southeast Asia (SEA).
Headquartered in Singapore, DCI is the first of its kind addressing the unique characteristics of the eCommerce ecosystem in SEA, most notably the complexities arising from the vast numbers of independent sellers operating in these markets. Aside from the typical eCommerce channels of the established brands and retailers, there are more than 2 million independent sellers operating across the region. These independent sellers are highly competitive and opportunistic and can collectively trade over 50% of a brand's total eCommerce sales. Many of them operate without the brands' knowledge, often making commercial planning and brand management more challenging.
This challenge is further amplified during the COVID-19 crisis where demands in certain products do not necessarily reflect the demands from forecasting. Utilizing the vast amount of online product data and its proprietary AI algorithm, DCI offers real-time product demand information at a direct-consumer level, enabling brands to act fast and plan their productions, thus ensuring adequate inventory levels across their supply chains.
"During the COVID pandemic with many countries experiencing lockdowns, customers have largely shifted to online shopping, creating huge challenges for many companies. Today, more than ever, brands need real-time granular data to be incorporated into their forecasting models to avoid stockout incidents and to better allocate inventory across distribution channels," said Kyriakos Zannikos (KZ), founder and CEO of DCI. "We are proud to be able to offer our solutions that are dynamically customized to our customers' planning & analytics requirements and helping them optimize their eCommerce sales and operations."
From high-level market data down to which product image to use to stimulate sales, DCI's AI-driven solution provides brands with intelligence to eliminate blind spots and promote sales. Brands can gain insights into their eCommerce market share, retailers' dynamics, monitor competitors' strategies and stay on top of their game by keeping track of all vital eCommerce performance fundamentals.
"What makes a brand a leader is often the wise use of data," KZ added. "This is particularly true in eCommerce where the pace and dynamics of trade are so much faster than any other commercial channel. Hence, being able to consult category level data and derive quick insights from it can give a brand a significant advantage over its competitors."
About Digital Commerce Intelligence
Established in 2018, Digital Commerce Intelligence (DCI) uses advance data science techniques and AI technologies to provide eCommerce market performance insights & competitive intelligence for consumer goods brands and retailers in Southeast Asia. DCI aggregates large amounts of product (SKU level) data daily across all major eCommerce platforms in Southeast Asia and uses a proprietary analytics algorithm that identifies market trends, establish benchmarks among key competitors and produce commercial insights, helping its customers to stay on top of their eCommerce performance and effectively drive their eCommerce Strategies.
For more info, visit www.dci.ai
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