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Informatica launches Intelligent Data Management Cloud for Retail

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Informatica, an enterprise cloud data management provider, has unveiled the Intelligent Data Management Cloud (IDMC) for Retail with new cloud-first, cloud-native capabilities built to help the retail industry drive innovation and business value.

The retail industry has had to pivot to a digital-first strategy powered by the Cloud in matter of weeks in light of the global pandemic and this acceleration to the Cloud is predicted to continue post Covid. The retail industry will generate more data in the next three years than in the past thirty, driving them to invest in cloud-first solutions that can unify customer data across multiple sources to derive a single source of truth. IDMC for Retail is the first and only cloud-neutral Data Management Cloud for the retail industry enabling retail organisations to deliver digital-first experiences to their customers and driving omni-channel revenue growth.

The Hershey Company, a snacking powerhouse with over 90 brands and $8B in annual revenues, keeps its 128-year-old company thriving with its long-term view on growth and differentiated capabilities. The company recognised the importance of modernising the way trusted data is delivered to the business, seeking a solution that is easy to adopt and would deliver immediate value. “Informatica was able to demonstrate the power of the Intelligent Data Management Cloud platform, demonstrating out of the box connectivity while also having the ability to tailor UI’s to both technical and business users,” said Ryan Gelberd, Enterpirse Data and Technology, the Hershey Company. “The partnership will allow Hershey to deliver trusted, governed data to their users with the utmost confidence.”

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“The Cloud has empowered us to engage with our customers in meaningful ways never before possible and capitalise on real-time moments to up-sell and cross-sell while maintaining high customer satisfaction scores,” said Gary Desai, CIO, Discount Tires. “Informatica’s Intelligent Data Management Cloud for Retail will be a game-changer for retail companies especially with its ability to efficiently manage the supply chain and inventory in the current climate.”

IDMC for Retail enables retail companies to deliver highly personalised, digital-first customer experiences across all channels, at-scale so retailers can respond to dynamic, real-time customer needs by unifying customer data across multiple domains, systems and multiple clouds in some instances.

IDMC for Retail helps:
• Improve customer profiles with clean, consistent and complete information
• Increase self-service with search and exploration of customer relationships through both network and hierarchy views
• Efficiently acquire, manage and publish relevant and trusted product content to drive seamless customer experience

Increase Supply Chain and Inventory Management Efficiencies: According to a McKinsey consumer study published in December when faced with out of stocks, 71% of consumers will switch brands and retailers. IDMC for Retail helps improve inventory visibility at the store and distribution center level and increases the accuracy of demand forecasting. In a world where climate change and geopolitical tensions, will continue to create supply chain uncertainty, closer collaboration with suppliers is a powerful way to address supply disruption and price volatility.

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IDMC for Retail helps:
• Boost productivity and cut costs by reducing business overhead and manual work for managing supplier information
• Shrink supplier and product onboarding and qualification time from weeks to days
• Improve supplier collaboration, assess compliance and manage supplier risk to build a resilient and sustainable supply chain

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Maintain Customer Trust and Loyalty with Industry-Certified Data Governance and Compliance Standards: Data privacy regulations directly impact the way multinational companies conduct their business. IDMC for Retail helps prevent exposure and reduces risk by providing effective data governance and privacy capabilities. By providing visibility into data usage and access, it reduces risk exposure to potential breaches and non-compliances with data privacy laws such as GDPR and CCPA, reduce financial penalties, and help build trust and loyalty from customers.

IDMC for Retail helps:
• Rapidly find and compile personal data, which is held in countless disconnected systems throughout your enterprise
• Respond to subject requests and data breaches within the timelines required by GDPR, CCPA and other regulations
• Foster IT and business collaboration, driving productivity and rapidly accelerated reporting processes

Informatica has a rich ecosystem of cloud partners, AWS, Google Cloud, Microsoft, Snowflake and Databricks to provide seamless integrations to help retail customers succeed in their cloud-first digital transformation. GSI partners like Accenture, CapGemini, Deloitte, Cognizant and Wipro have been integral to Informatica’s cloud expansion in the retail industry and actively engaged in helping several joint retail customers in adopting IDMC.

“The Informatica Intelligent Data Management Cloud for Retail is the only, end-to-end, cloud-neutral data management platform built to enable retail organisations continuously innovate their customer experience, omni-channel shopping and supply chain efficiencies with seamless access to trusted data when and where they need it,” said Jitesh Ghai, Chief Product Officer, Informatica. “The retail industry is on an accelerated path to digital transformation in the next few years and Informatica is helping retail organisations stay competitive and drive business value by unlocking the value of unified data.”

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Want to learn more about cloud and cyber security from industry leaders? Check out Cyber Security & Cloud Expo. The next events in the series will be held in Santa Clara on 11-12 May 2022, Amsterdam on 20-21 September 2022, and London on 1-2 December 2022. 

Explore other upcoming enterprise technology events and webinars powered by TechForge here.

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TECHNOLOGY

Artificial Intelligence in the 4th Industrial Revolution

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Artificial Intelligence in the 4th Industrial Revolution


Artificial intelligence is providing disruptive changes in the 4th industrial revolution (Industry 4.0) by increasing interconnectivity and smart automation.

Industry 4.0 is revolutionizing the way companies manufacture, improve and distribute their products. 

What Makes Artificial Intelligence Unique?

Artificial intelligence (AI) makes it possible for machines to learn from experience, adjust to new inputs and perform human-like tasks.

It allows computers to think and behave like humans, but at much faster speeds and with much more processing power than the human brain can produce.

AI offers advantages of new and innovative services, and the potential to improve scale, speed and accuracy. 

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There are 3 types of artificial intelligence:

  • Artificial narrow intelligence (ANI), which has a narrow range of abilities.

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  • Artificial general intelligence (AGI), which is on par with human capabilities.

  • Artificial superintelligence (ASI), which is more capable than a human.

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Artificial intelligence can also be classified as weak or strong. 

Weak AI refers to systems that are programmed to accomplish a wide range of problems but operate within a predetermined or pre-defined range of functions. Strong AI, on the other hand, refers to machines that exhibit human intelligence.

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Artificial intelligence has several subsets:

Most AI examples that you hear about today – from chess-playing computers to self-driving cars – rely heavily on deep learning and natural language processing.

What is the Fourth Industrial Revolution?

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The Fourth Industrial Revolution is the current and developing environment in which disruptive technologies and trends such as the Internet of Things (IoT), robotics, virtual reality (VR) and artificial intelligence (AI) are changing the way modern people live and work. The integration of these technologies into manufacturing practices is known as Industry 4.0. 

The first industrial revolution used water and steam power to mechanize production.

The second used electric power to create mass production.

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The third used electronics and information technology to automate production.

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The fourth Industrial revolution is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres, with rising emerging technologies, as real AI, Narrow AI/ML/DL, robotics, automation, materials science, energy storage, the Internet of Things, autonomous vehicles, 3-D printing, nanotechnology, biotechnology, neurotechnology, cognitive technology, and quantum computing. It implies radical disruptions to everything, industries, jobs, works, technologies, and old human conditions. In its scale, scope, complexity, and impact, the AI transformation will be unlike anything humankind has experienced before.

The Role of Artificial Intelligence in the 4th Industrial Revolution

Artificial intelligence is making companies make the best use of practical experience, even displacing traditional labor and becoming the productive factor itself. 

It offers entirely new paths towards growth for manufacturing, service, and other industries, reshaping the world economy and bringing new opportunities for our societal development.

As AI begins to impact the workforce and automation replaces some existing skills, we’re seeing an increased need for emotional intelligence, creativity, and critical thinking.

Zvika Krieger, co-leader of the World Economic Forum’s Center for the Fourth Industrial Revolution.

Deploying AI requires a kind of reboot in the way companies think about privacy and security, As data becomes the currency of our digital lives, companies must ensure the privacy and security of customer information.

Businesses will need to ensure they have the right mix of skills in their workforce to keep pace with changing technology. 

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