EDITED is a company that enables competitor and enterprise retail analysis, empowering buyers, planners, and merchandisers to grow profits. Pulse 2.0 interviewed EDITED CEO Doug Kofoid to learn more.
Doug Kofoid’s Background
Doug Kofoid started his journey in the digital landscape more than 20 years ago. Kofoid said:
“And along the way, I’ve been a firsthand witness to the impact of data on driving business advancement. From the start of my career, I was captivated by how technology could disrupt well-established industries, arriving into business during the dot-com era and a time of massive disruption.”
“My fascination with the potential of data was ignited during my involvement in a company spin-off from Baxter Healthcare, where I saw how it could transform the prescription benefit management market. From that point onward, I remained committed to exploring the impact of data on different industries.”
“My career journey took a turn when I developed the DART Search algorithm, now recognized as Google Ads. I was working as a consultant at Performics when I started this project, but by the time we sold the business, I was full-time and played a vital role in its growth and eventual acquisition by Google.”
“Driven by my enthusiasm for creating remarkable customer experiences through data, analytics, and automation, I found myself at DialogTech, where I delved further into the intersection of technology and customer engagement. This experience deeply molded my comprehension of harnessing technology for fostering innovation and growth.”
“Transitioning to EDITED felt entirely natural as I recognized the potential to employ market intelligence and data-centric strategies to empower retailers, championing a revolution in an industry I’m finding endlessly fascinating.”
Core Products
What are the company’s core products and features? Kofoid explained:
“EDITED’s main products are centered around market intelligence and enterprise intelligence solutions. In terms of market intelligence, we offer a comprehensive view of retail market data, providing insights into pricing, assortment, trends, and more across a vast range of products globally. This aids businesses in making informed decisions and capitalizing on market opportunities.”
“Our enterprise intelligence solution integrates various internal data sources into a unified platform, facilitating rapid reporting and analytics for actionable insights and powering intelligent automation across the retail partner ecosystem. This allows businesses to focus on growth and maximize their potential.”
“The pair together offer an unparalleled intuitive insights platform that helps our customers to constantly improve their bottom line.”
Favorite Memory
What has been Kofoid’s favorite memory of working for the company so far? Kofoid shared:
“One of the most fulfilling aspects of my time at EDITED has been witnessing the concrete impact of our solutions on retailers. It’s truly remarkable to see how our technology empowers retailers to drive their growth through informed, data-driven decisions.”
“Being able to observe the increase in customer engagement, the precision in pricing strategies, and the overall improvement in merchandising techniques, all powered by our platform, has been incredibly rewarding. All of this has taken place in an industry that would have felt alien to me ten years ago, and it’s all the better for it. And looking ahead, I’m particularly excited about our upcoming platform update launch. With the integration of marketplace competitive intelligence and enterprise insights, we’re set to provide even deeper and more actionable insights for retailers.”
Evolution Of EDITED’s Technology
How has EDITED’s technology evolved since launching? Kofoid noted:
“Since our inception, EDITED’s technology has been evolving substantially. We’ve remained dedicated to fine-tuning our data analytics and AI capabilities, ensuring that we stay at the forefront of innovation.”
“We acquired Dynamic Action in 2021, which helped us bring their exciting tools into our portfolio. This is built on our existing global market intelligence software to allow retailers to immediately understand the performance of their own commerce business with world-class retail analytics.”
Customer Success Stories
Upon asking Kofoid about customer success stories, he replied:
“PUMA is a brand renowned for its commitment to customer-centric merchandising. Through our partnership, we have enabled them to optimize their merchandising strategies using data-driven insights. By analyzing conversion rates and refining website placement, PUMA was able to make well-informed decisions that significantly boosted its revenue. This shift to data-driven strategies allowed them to create a more tailored and engaging shopping experience for their customers. Another instance that showcases how PUMA successfully leveraged our tools was when they pinpointed a category with high conversion rates but low visibility on their website. Through strategic product highlighting, PUMA saw an immediate increase in revenue, a clear example of how data-driven insights can drive tangible business outcomes.”
Differentiation From The Competition
What differentiates EDITED from its competition? Kofoid concluded:
“What distinguishes EDITED from its competitors is our focus on customer-centricity. We recognize that the core of successful retail lies in adapting strategies to meet consumers’ ever-changing desires and tastes. Our technology goes beyond providing mere data insights; it equips and empowers retailers to cultivate personalized and meaningful customer experiences.”
“This commitment is not limited to a single department or team; it is woven into the fabric of our company culture. This combination of customer-centric technology along with an innovation-driven mindset is a unique competitive advantage that enables us to consistently deliver value and drive lasting transformation for retailers across the world.”
“I’d also say our time in the business is a great differentiator. EDITED has been compiling these data pools for over ten years, so the depth of our data and our models are unmatched by our competitors.”
