Nike has recently purchased an AI startup, named Celect. Through purchasing an AI startup, Nike is hoping to bolster its predictive analytic abilities. No terms were released on the acquisition price. Nike's COO Eric Sprunk made a statement regarding the acquisition, "As demand for our product grows, we must be insight-driven, data-optimized and hyper-focused on consumer behavior. This is how we serve consumers more personally at scale."
Celect was founded by two MIT professors, and the tech company uses data to derive insights. The company is able to use both structured as well as unstructured data from the retail industry to derive a number of different insights. Retail companies are then able to implement in the insights to get an idea of the cost and benefits of different inventory layouts.
Retail Analytics Acquisitions
Nike Has Purchased an AI Startup to Enhance Its Predictive Analytics
Trend Themes
1. Predictive Analytics in Retail - The acquisition of an AI startup by Nike highlights the growing trend of leveraging predictive analytics in the retail industry.
2. Data-driven Consumer Behavior Analysis - Nike's purchase of an AI startup emphasizes the trend of using data to gain insights into consumer behavior and personalize the shopping experience.
3. Integration of AI in Retail Operations - Nike's acquisition of Celect showcases the trend of integrating AI technology into various aspects of retail operations, such as inventory management and layout optimization.
Industry Implications
1. Retail Analytics - The acquisition of Celect by Nike presents disruptive innovation opportunities for companies specializing in retail analytics solutions.
2. AI Technology - The purchase of Celect by Nike opens up opportunities for companies in the AI technology industry to provide innovative solutions for retail analytics and consumer behavior analysis.
3. Sports Apparel - Nike's focus on enhancing its predictive analytics capabilities through the acquisition of Celect creates opportunities for disruptive innovation in the sports apparel industry.