Plytix.com is an online platform service that fulfils unmet needs in the current e-commerce model. The end-users for the novel Plytix.com platform are brands and e-tailers. Plytix Analytics helps brands to increase profits from e-commerce, by providing them with product sales performance and customer behaviour data from all web-stores (e-tailers’ and/ or own web-stores) where customers are interacting with their products. Before Plytix.com this valuable cross-channel data was impossible to collect. For e-tailers, The Plytix platform will reduce cost and time spent on tasks by providing them access to free high quality product images through a centralised online image bank. The need for the Plytix.com platform arises from the currently fragmented nature of the e-commerce industry. The economic benefits from Plytix for the end-users is two-sided: [i] first and foremost, Plytix Analytics provides business strategic insights that will allow user’s companies to achieve higher conversion rates, i.e. increased revenue; and [ii] secondly, the holistic concept of making a centralised hub of product content allows for reduced operating costs related to product handling for both brands and e-tailers. In addition to the direct economic benefits for end-users, Plytix Analytics adds value in non-financial parameters such as customer satisfaction, customer retention, and improving business processes and products. Plytix Analytics empowers users with evidence-based decisions that allows them to stop guessing from their decisions and to prevent unnecessary over-spending e.g. on promotional campaigns.
The main objective of the PISPA project is to provide the first analytics tool in the world that can track the performance of a product across sites and channels. Why is this important? A study indicates that 35% of Amazon sales comes from recommendations. Amazon’s recommendation engine is so powerful due to the amount of data it hosts. With Plytix Analytics and its ability to track products performance across channels, companies can tap into aggregated data from multiple data sources and allow for Big Data to leverage that data and give SMEs the same competitive advantages as Amazon. And, it does not stop there. With that foundation of aggregated data, Plytix can take the next technological leap forward in the industry and start developing dynamic product listing technologies. To put it in layman terms, companies will be able to present individual consumers with products that are relevant to them and according to each individual values and preferences. It is a future where remarketing (those ads that constantly pop up on your screen) becomes obsolete and where consumers can feel safe and in control again.
The PISPA project aims to have a significant impact on SMEs. According to a study conducted by Digital Europe and the European Commission in 2018, companies scoring “Very High” at adopting data and technologies, are growing six times faster than the rest. And who are these companies? These companies are large enterprises that can afford the necessary technologies and have the skills to implement them. The result一the performance gap between large corporations and SMEs are growing bigger each year, and it is becoming increasingly difficult to compete in a market that is growing exponentially in complexity. With PISPA, Plytix can close that performance gap in the market by giving SMEs access to data and technologies that up until this point had been reserved for large enterprises. By offering technologies that are user friendly and affordable, Plytix can take part in lifting SMEs worldwide to the next level and make them competitive now and in the future.
