DATA MINING CUP 2022: Students worldwide develop a forecasting model for cyclically demanded products

Consumers buy products regularly at certain time intervals. Which products customers buy, and at which given times, is important information for retailers. This insight can help them identify the optimal time to advertise products, capturing attention when a shopper might be looking to make a purchase. For example, a customer may wait longer to buy a favorite perfume than their favorite body lotion.

The DATA MINING CUP has published a real-world data mining task for this scenario. Given a retailer’s fixed product assortment, the participating teams are to determine which products customers buy on a cyclical basis. Students are then challenged to develop a model that predicts these cycles for all relevant products and customer groups.

DMC teams have a total of 11 weeks to submit their solution model. The deadline for submission is June 28. The online awards ceremony will take place on July 14.

Since 2000, the DMC has been inspiring students worldwide with new, complex tasks. Participating teams can use their theoretical knowledge to apply intelligent data analytics to real-world scenarios. For this year’s contest, 53 teams from 38 educational institutions in 16 countries have registered to participate. The deadline for teams to register to participate in DMC 2022 is June 26: https://www.data-mining-cup.com/dmc-2022/

Über GK SOFTWARE SE

GK Software SE is a leading developer and provider of standard software for the retail sector, and currently counts 22 percent of the world’s 50 largest retailers among its customer base. According to a study published by RBR 2021, the Company is one of the leading international providers of POS software and is the fastest growing business in the industry in terms of the number of installations worldwide (without Hospitality and Petrol). The company offers an extensive range of solutions for stores and enterprise headquarters as well as for the implementation of contemporary omni-channel retail concepts. Thanks to its open and platform-independent software solutions in the GK/Retail Suite, the company has established itself as one of the market’s leading providers of technology and innovations. Its solutions enable retail chains with numerous stores to optimize their business processes and to benefit from significant potential for saving costs and implementing customer loyalty progra ms in order to improve their competitiveness. In addition to its own software solutions, GK Software SE also offers customers a comprehensive range of implementation and maintenance services. Having been acquired in 2012, AWEK GmbH and in 2015, the retail segment of DBS Data Business Systems Inc. In 2017, the company acquired a majority shareholding in prudsys AG, a company focused on artificial intelligence. In 2018, the valuephone GmbH was acquired, which develops leading solutions for mobile consumers. retail7 GmbH, specializing in cloud solutions for smaller retailers, was founded in 2020.

The company employs 1,071 members of staff (figures for 30 September 2021) across its headquarters in Schöneck (Germany) and other business locations in Germany, Czech Republic, Switzerland, South Africa, Russia, Ukraine and the USA. GK Software SE’s customers include many well-known retailers, including Adidas, Edeka, Lidl, Aldi, Coop (Switzerland), Netto Marken-Discount, Hornbach, Migros, Grupo Kuo and Walmart. The software is currently being used at almost 500,000 retail and payment installations across approximately 100,000 stores in more than 60 countries. The company has grown rapidly in recent years and its sales revenues totaled EUR 117.6 million in 2020. Since launching the company in 1990, the two founders Rainer Gläß (CEO) and Stephan Kronmüller (deputy board member), together with the experienced management team, have shaped GK Software into a profitable company exhibiting strong growth.

Further information about the company: https://www.gk-software.com

Firmenkontakt und Herausgeber der Meldung:

GK SOFTWARE SE
Waldstraße 7
08261 Schöneck
Telefon: +49 (37464) 84-0
Telefax: +49 (37464) 84-15
http://www.gk-software.com

Ansprechpartner:
Denise Linge
Marketing / PR
Telefon: +49 (371) 2709334
E-Mail: marketing@prudsys.com
Dr. René Schiller
Leiter Unternehmenskommunikation
Telefon: +49 (37464) 84264
Fax: +49 (37464) 84-15
E-Mail: rschiller@gk-software.com
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