Wine Matcher, an award-winning artificial intelligence[1] tool for the fine wine trade, has been released on a subscription basis today. It is a web-based tool, which means that it is instantly available for merchants to use. No development time is needed.
The problem it solves
Lists of wines are essential to the fine wine trade. They are exchanged between negociants, merchants, private clients, brokers and logistics suppliers. Although these wine lists often have the same basic information, such as wine name, pack size and price, it is normally presented in different formats. This makes it impossible for lists to be automatically processed. Valuing lists and spotting buying or selling opportunities therefore becomes a time-consuming process, requiring merchants to check prices manually.
Wine Matcher revolutionises these processes
Wine Matcher is a web-based, artificial intelligence tool that allows merchants to take lists and transform them into a standardised set of wine names and formats with unique IDs (LWINs[2]). These IDs can easily be shared with other systems or entered into a database for comparison in a matter of minutes. It can also return the clean list with wine price data – such as Market Price or last trade – from Liv-ex.
As a result, merchants will now be able to do in minutes what used to take weeks. Those valuing client lists will be able to give more time to their customers, and buyers and sellers can now discover new trading opportunities at the click of a button.
Don’t just take our word for it. Wine Matcher was recently awarded ‘Supply Chain Initiative of the Year’ by the drinks business. The judges called it a “very clever innovation” that “has far-reaching and practical implications for the fine wine trade”.
How fast is it?
Wine matcher automates the highly labour intensive and manual process of valuing lists of wine and preparing packing lists. It can match up to 5,000 lines of data per minute. Even if you were to value a wine list of this size at an average speed of 20 seconds per line, it would still take more than a working week.
Liv-ex currently uses Wine Matcher to process 45,000 lines of data each day. The tool is powered by Amazon web services and harnesses the power of the cloud to make it available to users on the Internet.
Videos:
- Watch ‘Wine Matcher’ – an animation: click here.
- See Wine Matcher in action with our tutorials on how to use the tool: click here.
To find out more information about Wine Matcher, please contact your Liv-ex Account Manager, or email [email protected].
[1] Wine Matcher uses statistical learning, a form of artificial intelligence, to increase the accuracy and confidence with which it offers matches to a given wine list.
[2] Liv-ex Wine Identification Number is a unique seven-digit numerical code that serves as a universal wine identifier for the wine trade.
[mc4wp_form id=”18204″]
