Sportswear giant Nike is aiming to tap into predictive analytics to help it better understand what its customers really want from the brand by acquiring American data science specialist Celect.
Founded in 2013, Celect uses AI-driven technology to help companies better optimise their inventories, in an effort to boost sales and margins, and slash markdowns. Celect’s team will immediately be integrated into Nike’s Global Operations Team.
Nike chief operating officer Eric Sprunk said: “With the acquisition of Celect, Nike greatly accelerates our digital advantage by adding a platform developed by world-class data scientists.
“As demand for our product grows, we must be insight-driven, data-optimised and hyper-focused on consumer behavior. This is how we serve consumers more personally at scale.”
The company is no stranger to the data-driven approach. The Celect deal follows this year’s acquisition of consumer data analytics firm Zodiac, which has been brought into the fold in an effort to speed up Nike’s digital transformation.
It has also snapped up computer-vision company Invertex to strengthen its AI capabilities. Invertex played a major role in the May launch of a new digital shoe measurement tool, which taps into data science, machine learning, and recommendation algorithms.
Nike insists the device - dubbed Nike Fit - will not only be far more accurate than anything else on the market, it will also improve performance and slash the firm’s costs.