Infor Acquires Predictix
Infor, a provider of business applications specialized by industry and built for the cloud, announces the acquisition of Predictix, a provider of cloud-native, predictive, and machine-learning solutions for retailers. Predictix uses next-generation data science and big data analytics to help solve some of the most complex and challenging problems faced by retailers today. Predictix will become part of Infor CloudSuite Retail, a new modern suite of enterprise applications delivered in the cloud and designed for today's retailing landscape. The acquisition comes six months after Infor announced an investment in Predictix.
Atlanta-based Predictix experienced more than 40 percent growth in SaaS subscriptions in 2015, and is growing at 60 percent in 2016 following the investment by Infor. Predictix manages more than $60 billion in weekly forecasts, with customers including The Home Depot and Whole Foods Market as well as 5 of the top 15 global retailers. LogicBlox, the company's technology platform underlying all Predictix applications, revolutionizes the development of next-generation predictive and prescriptive applications, and has attracted funding from DARPA, the Defense Advanced Research Projects Agency.
"From my point of view," says Greg Girard, program director of omnichannel retail analytics at IDC Retail Insights, "long in the tooth time-series approaches to forecasting and analytics that inform pricing, assortment, promotion, and other demand shaping tactics have run their course. They fall far short of what's needed today. They were designed and tuned for a different era-before elastic, scalable, subscription cloud environments, operationalized machine learning, inexpensive data storage, and the complexities, scale, and speed of omnichannel retail. Going forward leading retailers will take advantage of these advances for financial benefits, operational efficiencies, and customer loyalty."
Atlanta-based Predictix experienced more than 40 percent growth in SaaS subscriptions in 2015, and is growing at 60 percent in 2016 following the investment by Infor. Predictix manages more than $60 billion in weekly forecasts, with customers including The Home Depot and Whole Foods Market as well as 5 of the top 15 global retailers. LogicBlox, the company's technology platform underlying all Predictix applications, revolutionizes the development of next-generation predictive and prescriptive applications, and has attracted funding from DARPA, the Defense Advanced Research Projects Agency.
"From my point of view," says Greg Girard, program director of omnichannel retail analytics at IDC Retail Insights, "long in the tooth time-series approaches to forecasting and analytics that inform pricing, assortment, promotion, and other demand shaping tactics have run their course. They fall far short of what's needed today. They were designed and tuned for a different era-before elastic, scalable, subscription cloud environments, operationalized machine learning, inexpensive data storage, and the complexities, scale, and speed of omnichannel retail. Going forward leading retailers will take advantage of these advances for financial benefits, operational efficiencies, and customer loyalty."