How Profitmind Is Driving Profit Growth for Retailers With AI-powered Analytics

Is it time for retailers to finally ditch Excel and reams of spreadsheets? Retail executives are often overwhelmed by massive amounts of data, reports and spreadsheets, leaving little time for effective decision-making. Recognizing this challenge, Mark Chrystal, chief executive officer and cofounder of Profitmind, set out to develop an AI-powered solution that empowers retail teams to prioritize and act on business improvement opportunities with greater speed and accuracy. Here, Chrystal discusses the inspiration behind Profitmind, shares success stories from leading retailers and highlights the platform’s vision for shaping the future of retail analytics. From leveraging artificial intelligence to streamlining workflows to delivering measurable profit growth, Profitmind is working to reimagine how the retail industry operates in a dynamic and competitive market. WWD: What inspired the creation of Profitmind, and what specific problem in the retail industry were you aiming to solve? Mark Chrystal: As a 25-year retail executive, I grew increasingly frustrated at the lack of decision-support tools in the market. Retail teams are drowning in reports, data, BI tools and spreadsheets, requiring time-consuming needle-in-the-haystack investigative work to try and figure out what is going on in the business and what they can do about it. The average retailer has between 10,000 and 25,000 active spreadsheets

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