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NEW YORK, NY, UNITED STATES, August 15, 2024 /EINPresswire.com/ -- Conative AI has been honored with the award for Best SaaS for Product Analytics at The 2024 SaaS Awards, recognizing the platform's innovative approach to solving critical challenges in inventory and ecommerce management.
The SaaS Awards, a prestigious global program now in its 56th year, celebrates the best in software-as-a-service across 56 categories. With entries from organizations of all sizes worldwide, including North America, Europe, and APAC, the program highlights the most cutting-edge SaaS solutions across various sectors.
Mike Le, founder and CEO of Conative AI, said “as an immigrant serial entrepreneur who ran an award-winning digital agency for over 15 years, I’ve witnessed firsthand the struggles brands face when outdated demand forecasting and inventory inefficiencies stifle their potential. Conative AI was built to solve this by uniting inventory and marketing through advanced AI, transforming the way brands manage stock, cash flow, and operational workflows. Being recognized for this achievement validates our mission to reduce retailer losses and environmental waste while driving growth through cutting-edge technology.”
Retailers are estimated to lose $1.1 trillion globally due to out-of-stock items and overstocked inventory, with 92 million tons of clothing ending up in landfills each year. Conative AI addresses these issues by providing a comprehensive platform that integrates marketing, inventory, and ecommerce data into a single, unified solution. This empowers teams with a near-real-time view of product performance, significantly reducing manual workload and facilitating better alignment on goals and resources.
By pairing this data with advanced AI, Conative AI delivers demand forecasts that are 30% more accurate than traditional methods, helping brands produce more of what sells and hold less of what doesn’t, ultimately reducing waste and boosting profitability.
In presenting the award, lead judge Annabelle Whitehall praised Conative AI, stating, “Conative AI unites two commonly disparate functions within eCommerce businesses—inventory and marketing—through its product analysis and demand forecasting platform. Its ability to incorporate various product variables, such as seasonality and perishability, enables smarter inventory and marketing planning. This is crucial for making informed decisions that positively impact key metrics like overstock costs and revenue-by-product. Conative AI’s insights are delivered in record time, giving their customers a competitive edge in the increasingly competitive eCommerce landscape. Conative AI’s unwavering commitment to innovation and excellence makes them a deserving winner of Best SaaS for Product Analytics.”
The SaaS Awards will return in Spring 2025 to continue recognizing excellence in SaaS solutions. To view the full list of winners across all categories, please visit: https://www.cloud-awards.com/2024-saas-awards-winners.
Ari Blech
Conative AI
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