Colony’s IMS Product Selection Model Uses Machine Learning for a Winning Strategy

Which products should I keep in the assortment next year? Which metric(s) lead to the best outcomes?

Like Colony Brands with ten multichannel retail brands, many businesses struggle with assortment questions. When deciding between 100s or 1000s of products and a variety of metrics across a Merchandising team, it’s difficult to pin down a winning strategy.

In this session, Colony's IMS will introduce it's own Product Score, a product selection model that uses Machine Learning to optimize decision-making. 

Hear how this model provides

• One objective metric that explains the strength of a product and predicts it’s propensity to succeed in the future;
• A consistent, repeatable approach to assortment rationalization;
• Significant time savings, allowing companies to reinvest that time in areas like Product Research & Development;
• A Product Insights app that allows Merchandisers to understand their products and the tweaks they can make to build that product’s success over time.