DATE
07/2023
This case study explores how MathCo’s AI/ML engine, Co.dx, powers retail media analytics, helping businesses navigate trends, gain real-time insights, and maximize revenue in a rapidly growing $160B industry.
The problem
In the new world order, viewers of television are rapidly moving online. They get exposed to a variety of social media networks and OTT content on a daily basis, and spend a considerable amount of time on e-commerce platforms.
From a retailer’s perspective, this dynamic landscape in which their target group exists poses quite a challenge. While having a strong network of digital ads spread across the web is integral to create sustained business value, the problem lies with accommodating the easily ‘influenced’ user’s shifting demands and targeting them with the correct proposition in the nick of time.
Key metrics
Key metrics that were tracked
The proposition
Retail media marketing meets this challenge head on.
(why?)
A booming industry in digital mediums, retail media ad spend is projected to showcase a 15% compound annual growth rate for the next few years, shaping into a $160 Billion industry by 2027.
What goes behind these strategies is retail media analytics, i.e., examining trends and offering real-time insights to the retailer that can be used to hit the iron while it is still hot.
(what?)
This is where MathCo’s AI/ML master engine, Co.dx, comes in. It is a platform that can be leveraged to develop applications that are focused on boosting revenue and offering holistic analysis views of category performance across several industry verticals like pharma, CPG, infrastructure etc. The idea, thus, was to build an array of applications for every possible leg of retail media analytics within our AI Application Suit.
Co.dx hosts an array of applications that make the daunting world of retail media easy to navigate and comprehensible to the user.
Approach
The first step is identifying the client’s retail media maturity stage. Accounts are clubbed under the following groups.
Infant
Newbies with a basic identity graph, reporting on RoAS, impressions and clicks.
Toddler
Evolved identity graph with piping to activation of basic audiences. Same piping can be used for offsite audiences as well.
Teenager
Incrementality measurement, advanced custom audience activation, programmatic offsite targeting
Adult
Experimentation at scale, reporting at composite audience level. Fully automated, self-serve reporting.
Based on this analysis
The requirements of each unique client are mapped and their respective solution blueprints are created using the customizable, reusable modules modules within Co.dx.
Business nuances are also infused into these modules for ensuring impeccable quality.
Modules cover several parallels of retail media analytics such as data pipelining, feature engineering and business output visualization.
Creating the solution
Co.dx’s retail media suite helps you traverse from one stage to the next by helping you make strategic decisions and scale up.
Our holistic solutions target self-serve reporting at each stage where a user interacts with a tool. This helps retailers as well as brands access insights, find anomalies, and tap into opportunities faster than ever before.
For retailers
Retailers get a complete array of solutions across the value chain from planning their investment, managing yield and pricing, optimizing their media sales strategies and supporting ad operations.
The platform aggregates behavioral and media insights, empowers dynamic targeting, and activates custom audiences both onsite and offsite to make all these happen.
For brands
On the other hand, Brands can now purchase retail media with much more visibility across retail media networks at scale and maximize their Return on Ad Spend. The Co.dx Opportunity Hub allows brands to identify growth opportunities, maximize their share of the market, conduct experiments and strategize full-funnel tactics with always-on optimization.
Chatbot
And that's not all! We harness the power of Generative AI (GAI) to provide invaluable insights to customers and media channels. Our custom models empower strategic decision-making and enable insight discovery at speed and scale like never before.
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