Scanning devices using artificial intelligence for better demand forecasting

Address: Radingerstraße 2A

City: Wien

Area: D-A-CH

State/County: Wien

Zip: 1020

Country: Austria

Case Id : 37516

Technology: Artificial Intelligence, Machine Learning, Big Data

Name of the Retailer I Brand where the solution is installed: Nah&Frisch

Name of the solution / product: Circly Forecast

Retailer or Brand Website: https://www.nahundfrisch.at/de/home

For customers or employees (front- or backend): Employees

Hardware, software or service: Software

Live since: 01.04.2022

Description of the project goal / motivation [max. 500 characters]: Circly developed AutoML that enables tremendous resource savings from producers to retailers through AI. With an average of > 85% more accurate planning, resources can be used more efficiently and waste of those can be drastically reduced. The web-based Machine Learning/ Artificial Intelligence (ML/AI) supported planning forecast uses historical sales/sales data as well as external factors to create highly accurate demand forecasts. Simple and designed as a no-code system, even companies without a data science or AI specalized team can benefit from the strengths of AI. The technology can save valuable resources, CO2, food and financial resources, increase floor space turnover and make a valuable contribution in the area of sustainability.

Project scope / implementation activities [max. 500 characters]: The development period has already lasted more than 1.5 years. It should be noted that the development of a software product never stops - however, this is also the genius of Circly's software, that it is always updated via the cloud and functions are further developed.

Innovation [max. 500 characters]: Circly's mission is to democratize AI technology. The company achieves this through price leadership as well as easy access and foolproof use. Innovative is not only the no-code approach (software development without having to write a line of code), but also the preparation and processing of the data. Behind the platform are technologies like Federated ML and the possibility to integrate them everywhere.

Implementation approach / costs [max. 500 characters]: Cirly's mission is to be affordable and cost-effective for retailers, manufacturers and wholesalers. There are various pricing models for customers, depending on the size and number of outlets using Cirly. Integration costs are usually in the low 5-digit range, and running costs are tiered per license and by number of outlets.

Potential for replication [max. 500 characters]: Due to the modular structure of the algorithms and the possibility to upload a simple Excel spreadsheet or CSV file, new customers can be integrated in just a few days. The training of the AI as well as the prioritization and industry-dependent weighting of various factors can also be done within a few days, which is why the solution's current model is highly scalable. Despite the high scaling potential, the modular model can react quickly to industry-specific wishes, customer ideas and market changes.

Award Round: + Award September 2022 - Fokus POS (DACH)