ATHENA 2.0 SIGNED
The most accurate, actionable and user-friendly AI-econometrics powered tool to optimise pricing strategies in the Consumer-Packaged Goods sector
Total Cost €
0EC-Contrib. €
0Partnership
0Views
0ATHENA 2.0 project word cloud
Explore the words cloud of the ATHENA 2.0 project. It provides you a very rough idea of what is the project "ATHENA 2.0" about.
Project "ATHENA 2.0" data sheet
The following table provides information about the project.
| Coordinator |
WISE ATHENA SL
Organization address contact info |
| Coordinator Country | Spain [ES] |
| Total cost | 2˙155˙750 € |
| EC max contribution | 1˙509˙025 € (70%) |
| Programme |
1. H2020-EU.3. (PRIORITY 'Societal challenges) 2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs) 3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies) |
| Code Call | H2020-SMEInst-2018-2020-2 |
| Funding Scheme | SME-2 |
| Starting year | 2019 |
| Duration (year-month-day) | from 2019-03-01 to 2021-02-28 |
Partnership
Take a look of project's partnership.
| # | ||||
|---|---|---|---|---|
| 1 | WISE ATHENA SL | ES (ROZAS DE MADRID) | coordinator | 1˙509˙025.00 |
Map
Project objective
Product pricing is the most critical element for FMCGs and CPGs companies, but it is very complex to optimise them due to the high number of factors involved and their interrelations.
When defining prices for their products (SKUs) CPGs need to consider price elasticity, cross-elasticity, cannibalisation, competitors' pricing strategy, etc. Additional complexity comes from customers’ micro-segmentation, type of retailer and channels. In addition, prices move on a daily or weekly basis. As consequence, fixing the right price for products has become a major challenge for FMCGs/CPGs companies. The problem is so complex that current state-of-the-art reaches accuracies around 60%-70% in demand prediction.
ATHENA 2.0 integrates cutting-edge research in AI, big data and econometrics (AI research in collaboration with Stanford and approved by IEEE) and applies it to demand prediction and pricing optimisation reaching unprecedent levels of accuracy (>90% and up to 98%); Two patents have been requested to protect the core of Wise Athena. In addition to much higher accuracy, Wise Athena provides actionable results. The service is affordable, easy-to-use and does not require integration with the CPGs.
Nowadays, our solution consists in the combination of 50 software modules (12 AI modules to model main econometrics variables and 40 interconnection modules that model their interrelations). Thanks to our outstanding performance Wise Athena was selected by SAP.io in October 2017 among 2.000 candidates as one of the 10 most innovative start-ups exploiting AI;
After almost one year of market validation, we have reached 100k€ MRR in Sep‘18 and 0% churn rate, setting the basis for the next upscaling phase. This project is a fundamental piece in our scale-up and growth strategy since it will increase Wise Athena scalability allowing its massive commercialisation. Thanks to this project we will reach 50M€ revenues by 2023, with 22M€ EBITDA and generating 90 new jobs.
Are you the coordinator (or a participant) of this project? Plaese send me more information about the "ATHENA 2.0" project.
For instance: the website url (it has not provided by EU-opendata yet), the logo, a more detailed description of the project (in plain text as a rtf file or a word file), some pictures (as picture files, not embedded into any word file), twitter account, linkedin page, etc.
Send me an email (fabio@fabiodisconzi.com) and I put them in your project's page as son as possible.
Thanks. And then put a link of this page into your project's website.
The information about "ATHENA 2.0" are provided by the European Opendata Portal: CORDIS opendata.