Project description
A pioneering new platform makes keeping up with product performance a piece of cake
The explosion of e-commerce has come with the increasing use of product information management software to produce, track and manage product content across digital channels. However, these platforms are lacking the power and functionality that would be possible by harnessing Big Data and data analytics given the phenomenal volume of online trading and activity. The Danish SME Plytix has developed the Plytix Analytics platform, which provides more value and insight for a given product by tracking its performance across all websites. The EU-funded PISPA project is helping the team optimise the platform and take it to market.
Objective
The problem: Booming online trading activity has triggered an increasing interest for data analytics, which can largely boost online sales. With billions of clickstream and transactional data taking place every day on the internet, e-commerce is clearly a key domain for data mining and analytics. Supply chain management and the forecasting of online sales could immensely benefit from such data mining/analytics. However, today, brands only have access to data intelligence from e-tailers in terms of sales numbers, and most often, this data comes too late to be valuable. More importantly, currently marketed analytics tools are not able to track the performance of the brands’ products through 3rd party retailers.
The solution: Plytix developed a breakthrough analytics tool – Plytix Analytics – that is expected to become a new standard in e-commerce. Unlike all other web analytics tools, Plytix tracks product performance (not sites) directly and across websites – thereby bringing more value/insights for each given product. Plytix Analytics enables users to extract valuable insights that allows them to: [i] optimize prices; [ii] make better marketing decisions and design better products; [iii] optimize inventory to prevent stock-out; [iv] prevents online parallel import, etc.
The market: The total market size for Plytix in the targeted markets is above EUR 31.5 billion per year. The implementation of the innovation project will place Plytix.com ApS in a strong position to exploit an aggregated turnover exceeding € 41 million – five years after the project kick off.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- natural sciences computer and information sciences internet
- natural sciences computer and information sciences computer security data protection
- natural sciences computer and information sciences data science big data
- natural sciences computer and information sciences data science data mining
- social sciences economics and business business and management commerce e-commerce
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-2 - SME instrument phase 2
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EIC-SMEInst-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
1361 KOBENHAVN
Denmark
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.