Company Overview of First Insight, Inc.
First Insight, Inc. offers predictive analytic consumer testing solution for department stores, specialty retailers, manufacturers, wholesalers, footwear, and e-commerce companies. The company’s solutions give guidance for product design, buying, assortment planning, pricing, and marketing decisions to improve sales, margins, and inventory turnover; provide forward-looking view of customer demand and merchandise profitability; and deliver inventory investment recommendations and go-to-market price point insight for products that are new to assortments. Its cloud-computing model generates insight on the future success of new products and designs. The company was founded in 2007 and is based i...
1606 Carmody Court
Sewickley, PA 15143-8566
Founded in 2007
Key Executives for First Insight, Inc.
Compensation as of Fiscal Year 2014.
First Insight, Inc. Key Developments
First Insight Announces InsightPlanning
Jul 31 14
First Insight announced a new addition to its cloud-based InsightSuite platform: InsightPlanning. Adding to the InsightSuite offering, InsightPlanning offers retailers and manufacturers valuable data derived from consumer insights so they can make informed decisions on product production and inventory quantity. With more direct and forward-looking insights –rather than just industry-standard historical-trend analysis—the predictive analytics employed by InsightPlanning can result in net retailer margin gains of 3%-9%, and First Insight guarantees these results. Using InsightPlanning, retailers and manufacturers can now: Ensure the right level of inventory or production on top-selling products, anticipating demand early-on and avoiding inventory depletion. Minimize excess inventory on slower moving products. Maximize overall gross margin of a specific category of products.
First Insight, Inc. Announces Partnership with Abercrombie & Fitch Co. to Provide Consumer-Driven Predictive Analytics
Feb 5 14
First Insight, Inc. announced a partnership agreement with Abercrombie & Fitch Co. As part of the agreement, First Insight will provide its consumer-driven predictive analytics to help Abercrombie & Fitch make faster and more accurate design, buying and pricing decisions, thereby reducing markdowns and mitigating risks associated with new product introductions. The partnership is based on Abercrombie's confirmation of the accuracy of First Insight's solution during a thorough due diligence process. In partnering with First Insight, Abercrombie & Fitch gains strategic investment guidance on thousands of new products and designs. Through online social engagement tools, First Insight enables Abercrombie & Fitch to gather real-time consumer preference and pricing data on candidate new products, months before products are launched in the market. This data is filtered through First Insight's predictive analytic models to determine which products present the greatest opportunity. First Insight's solution is now enabling Abercrombie & Fitch to: Test new candidate products, in every product category, every week, throughout the merchandising organization and the product development lifecycle. Execute on its strategy to decrease promotions and increase average unit retail prices.
First Insight Announces Global Capabilities at NRF 2014
Jan 10 14
First Insight announced a major expansion of its software-as-a-service platform. The First Insight solution now enables retailers to gain real-time consumer input on new products in multiple countries. This capability lets U.S.--based retailers with international store footprints make informed regional assortment and pricing decisions. The First Insight solution also now allows internationally-based retailers and brands to test new products in multiple countries while viewing results in their own native language. This new First Insight capability is made possible by offering multi-lingual and multi-currency online consumer engagements, while also delivering its InsightSuite of merchant decision-making tools in multiple languages and currencies.
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