Sean Moran, President/CEOAdvanced technologies such as predictive analytics are driving the current retail market through customer intelligence solutions that pin point patterns in the sales and shopping behavior and predict results. Founded in 2012, Reflektion is an innovator in retail analytics that provides a predictive analytics platform and easily deployable solutions for retailers and brands. “Our platform detects trends and predicts in real-time what each customer is likely to buy next, enabling retailers and brands to drive significantly higher sales and customer engagement,” says Sean Moran, President and CEO, Reflektion.
Moran’s extensive background in developing new technologies for large enterprises like Amazon, Walmart and Costco and thousands of mid market merchants led to his current position at Reflektion. Moran, along with Reflektion founder and CTO Amar Chokhawala, are leading the charge to create solutions utilizing large dataset technologies, machine learning and predictive analytics to help retailers understand and better forecast shoppers’ buying behavior.
“Our platform helps clients to build a closed loop by accurately predicting the effect of marketing activities on actual sales, putting those programs into action and using actual results to refine their models,” says Moran. “Our cloud-based applications reduce the computational overhead by hundreds of times, making predictive analytics possible at the atomic level,” he adds. The company offers an ecommerce solution that enables personalized customer experiences, including predictive product recommendations, visual sitesearch, mobile optimization, creative optimization, responsive messaging, and dynamic discounting.
Reflektion’s flagship product, Xpedition, provides business intelligence and customer analytics. It uses predictive analytics to discover trends, predict sales, and support bottoms-up analytics by retailers and brands of their omni-channel businesses. Xpedition uses first-hand information from retailers and brands to build individual customer profiles. “Xpedition helps our clients to discover who their customer is today and what sort of products they will purchase across channels and devices. This analysis is used across functional teams to drive business growth,” explains Moran.
Our platform detects trends and predicts in realtime what each customer is likely to buy next, enabling retailers and national brands to drive significantly higher sales and customer engagement
One of the main reasons Reflektion chose to focus on solutions for the retail and brand industry was the hefty amount of structured information coming from every retail store, inventory location and ecommerce websites and also due to the industry’s close link to the social web-osphere. This data is a largely untapped resource that can be leveraged to improve results. Reflektion’s industry expertise enables the company to develop solutions that would make an immediate impact leveraging current systems.
Reflektion has worked with several retailers and brands like Converse, Realtruck.com and AM Leonard. One of Reflektion’s initial customers, a beach clothing retailer O’Neill, installed the company’s ecommerce solution in a few days, and saw conversion rate increase by 26 percent, and average order size increase by 17 percent, and page views increase by 85 percent. “What we wanted was the ability to treat each online customer like an individual as we do in our stores. With Reflektion, we were able to achieve this,” said Daniel Neukomm, CEO of O’Neill Clothing.
Going forward, Reflektion will continue to work with retailers and brands who want to leverage their predictive analytics platform to build a closed loop enterprise where action can be taken immediately on new opportunities and shifts in individual shopping behavior and product tastes can be immediately reflected in offerings. “We see lots of opportunities for predictive analytics to be applied across the entire retail industry over the next decade,” concludes Moran.