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Scanning devices using artificial intelligence for better demand forecasting

Radingerstraße 2A, ,
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Award Sept. 2022

Overview

  • Updated On:
  • August 14, 2022

Description

Circly has brought artificial intelligence to the handheld scanning devices of the Franchise retailer Nah&Frisch, saving each store at least 6h a week and capital.

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.

Documents
Address: Radingerstraße 2A
City:
Area:
State/County:
Zip: 1020
Country: Austria
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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)
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