RITAIN.IO RECOGNIZED AT DSPA SME DIGITAL AWARDS FOR THE USE OF DATA SCIENCE

As data becomes increasingly available, companies in all sectors are recognizing the importance of implementing Data Science technologies as a means of innovating and gaining a competitive edge. By utilizing techniques like Machine Learning, organizations can streamline operations, enhance consumer experiences, and create new products and services that meet market demands. 

To promote the digital transition of small and medium-sized enterprises (SMEs) in Portugal, DSPA (Data Science Portuguese Association) launched the “DSPA PME Digital Awards 2022” contest. This initiative aimed to raise awareness and empower SMEs with knowledge, information, and tools for utilizing Data Science effectively. Co-funded by COMPETE 2020, the project’s main objective was to publicly recognize entities that demonstrate innovative attitudes and activities resulting in value creation through the use of data. The contest also aimed to encourage Portuguese SMEs to present creative solutions and approaches to the application of Data Science, and to highlight projects, products, and services characterized by merit and excellence in their segment, contributing to their digital transformation. 

The competition had two categories: the Prototype Award, which recognized new products or services developed by Portuguese SMEs using Data Science that were in the market’s maturation phase, and the Implementation Award, which rewarded Portuguese SMEs that had integrated Data Science solutions into their processes, services, or products to accelerate digital transition or solve internal challenges. Among the evaluation criteria was the degree of innovation and differentiation of the solution using Data Science, the potential impact of the solution or product on the organization and the market, and the feasibility of its implementation.  

Among the several companies and solutions that applied for this initiative, Ritain.io won the Prototype Award for its SaaS solution called zenPrice. Developed especially for the telecommunications market, zenPrice operates as a price-intelligence and decision-making tool that allows for a quick response to changes in the market through powerful metrics and data. 

zenPrice uses Data Science and Artificial Intelligence technologies to present suggestions and recommendations for updating prices and product portfolios and telecommunication services based on product prices practiced by the market and other internal and external variables. The solution simplifies the process of defining and implementing pricing and portfolio strategies, making telecommunications companies more competitive in terms of price and portfolio of products and services offered. 

It is worth noting that Ritain.io developed and implemented the AI/ML models used in zenPrice in partnership with the Institute of Electronic Engineering and Informatics of Aveiro (IEETA) at the University of Aveiro. This partnership is one of several collaborative activities between Ritain.io and different Portuguese educational institutions, aimed at promoting greater integration between academia and the business environment.