Aera Technology

Aera Technology Competitive Intelligence & Landscape

aeratechnology.com ·

Aera Technology
ForesightIQ Predictions

What is Aera Technology likely to do next?

ForesightIQ connects Aera Technology's hiring, product, web, ad, and market signals to forecast strategic moves — often months before they're announced.

Hiring signal

Senior hiring patterns point to a planned enterprise product line launching within two quarters.

High confidence · Next 1–2 quarters
Product signal

Quiet changes to docs and pricing pages signal an upcoming usage-based pricing tier and new API surface.

Likely · Next quarter
Market signal

Ad spend and partnership activity indicate a push into the mid-market segment across two new regions.

Plausible · Next 2–3 quarters
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Overview

Aera Technology Overview

Aera Technology, headquartered at aeratechnology.com, is a pioneer in Decision Intelligence, aiming to transform enterprises into intelligent, autonomous entities powered by AI. The company offers the Aera Decision Cloud™, a comprehensive platform that integrates data, analytics, AI, and automation to optimize business decisions in real-time. This digital brain for organizations enables proactive identification of risks and opportunities, recommends optimal actions, and even autonomously executes decisions, learning from outcomes to continuously improve performance. Their core offering, Agentic Decision Intelligence™, allows businesses to understand operational dynamics, make real-time recommendations, and act autonomously across the enterprise [https://aeratechnology.com/].

The Aera Decision Cloud™ is comprised of several key components, including the Decision Data Model™ which unifies real-time data from various sources, Multi-Engine Orchestration, Agentic Ambient Intelligence, and Dynamic Engagement. This platform powers Aera Skills™, specialized applications designed for areas like Supply Chain, Procurement, Sales & Marketing, Finance, HR, and ESG, allowing customers to optimize decisions across their entire value chain [https://aeratechnology.com/aera-decision-cloud/].

Aera Technology is recognized as a Leader in the Gartner® Magic Quadrant™ for Decision Intelligence Platforms and has been acknowledged on the Constellation ShortList™ for Decision Automation, underscoring its leadership in the field [https://www.aeratechnology.com/contact/].

Aera Technology's mission is to empower global market leaders to make faster, more adaptive, and higher-quality decisions at scale, ultimately reducing costs, minimizing waste, improving working capital, and enhancing customer service [https://www.aeratechnology.com/customers/]. The company’s innovative Agentic Reasoning capabilities enable organizations to explore, analyze, reason, and act on complex business decisions simply by asking, moving from situation to action in one conversation [https://www.aeratechnology.com/news/aera-technology-introduces-agentic-reasoning-for-enterprise-decisions-moving-from-situation-to-action-in-one-conversation/]. Their target market includes leading global companies in various sectors, evidenced by customer success stories with companies like Avantor and Alcon [https://www.aeratechnology.com/customers/]. While specific founding year and company size are not explicitly stated on the provided homepage content, the company continuously seeks individuals who embrace big challenges and strive for excellence, indicating a growing global team [https://www.aeratechnology.com/careers/].

Competitors

Aera Technology Competitors

Aera Technology specializes in Decision Intelligence, offering an AI automation platform that delivers real-time insights and predictions for what it calls "self-driving enterprises." Its core offerings, the Aera Decision Cloud™ and Aera Skills™, focus on cognitive automation, handling large datasets, and automating complex processes to improve decision-making with a potential ROI of 10-20% [Source: https://www.itqlick.com/fusionops/competitors]. While powerful, Aera Technology's solutions are noted for their high cost and complex implementation [Source: https://www.itqlick.com/fusionops/competitors]. The company operates in a competitive landscape with numerous players in AI, automation, and enterprise software [Source: https://tracxn.com/d/companies/aera/__7y2hNBRJcpbAeAK_xtsJqXVfbqDXIb6EYHRwt1a72aE].

Among Aera Technology's key competitors is Quantexa, a decision intelligence platform that distinguishes itself through entity resolution and network analytics to connect disparate data sources and uncover hidden risks and opportunities [Source: https://nerdisa.com/aeratechnology-vs-quantexa]. Both Aera Technology and Quantexa offer custom pricing models, indicating a focus on tailored enterprise solutions rather than standardized, off-the-shelf products. While Aera Technology emphasizes comprehensive cognitive automation and autonomous decision-making, Quantexa's strength lies in its ability to synthesize vast and varied data for a holistic view, making it a strong contender in complex data environments.

Thoughtonomy, now part of Blue Prism, represents a competitor in the Robotic Process Automation (RPA) space. While Aera Technology focuses on Decision Intelligence that understands, recommends, acts, and learns autonomously across the enterprise [Source: https://aeratechnology.com], Thoughtonomy (and Blue Prism) typically provide software robots that automate repetitive, rule-based digital processes. This positions Aera Technology as a more advanced cognitive automation platform aiming for intelligent, end-to-end decision orchestration, whereas Thoughtonomy's offerings are generally more focused on task automation. The differentiation often comes down to the depth of AI and machine learning applied beyond simple task execution.

Automation Anywhere is another significant competitor, known for its extensive RPA platform that integrates with AI, machine learning, and analytics to automate business processes. Similar to Thoughtonomy, Automation Anywhere's core strength lies in automating tasks and processes, often involving human-bot collaboration. In contrast, Aera Technology pushes beyond simple automation, aiming for Agentic Decision Intelligence™ where the platform not only automates but also makes real-time recommendations and takes actions autonomously, learning from every decision made across the enterprise [Source: https://aeratechnology.com]. This positions Aera Technology higher up the value chain in terms of cognitive capabilities and enterprise-wide impact, whereas Automation Anywhere focuses on process efficiency through automation.

WorkFusion is a further competitor that combines RPA, AI, and process orchestration to automate complex business operations.

WorkFusion emphasizes intelligent automation, often targeting financial services and other highly regulated industries for specific back-office processes. While both WorkFusion and Aera Technology leverage AI for automation, Aera Technology's unique selling proposition is its holistic Decision Intelligence approach, which includes understanding business context, providing real-time recommendations, and autonomously executing decisions across various business functions like supply chain, procurement, sales, and finance [Source: https://aeratechnology.com]. This suggests Aera Technology offers a broader, more integrated platform for strategic decision-making compared to WorkFusion's focus on automating specific operational workflows.

Alternatives

Aera Technology Alternatives

Product & Pricing

Aera Technology Product and Pricing Intelligence

Aera Technology specializes in Decision Intelligence, offering a sophisticated platform that automates and optimizes business decisions in real time. The core of their offering is the Aera Decision Cloud™, described as the digital brain of an organization, which unifies real-time data from various internal and external systems through its Decision Data Model™ [aeratechnology.com/aera-decision-cloud/]. This platform is designed to understand how a business operates, provide real-time recommendations, autonomously take action, and continuously learn from every decision made across the enterprise [aeratechnology.com].

The Aera Decision Cloud™ is comprised of several key components that facilitate its robust capabilities.

Aera Discovery™ provides powerful analytical and visualization tools, offering real-time access to the harmonized Decision Data Model™ and illustrating the context behind Aera's recommendations [aeratechnology.com/aera-discovery/]. For advanced AI and machine learning, Aera Cortex™ is an open ModelOps platform where users can develop, train, and operationalize AI models specifically for decision-making, integrating directly with live data sets and domain-specific algorithms [aeratechnology.com/cortex-ai-ml/]. Furthermore, Data Workbench™ allows for the transformation and processing of massive amounts of data into a unified decision data model, leveraging predefined content and enabling custom content creation [aeratechnology.com/data-workbench/].

Aera Technology empowers end-users with self-service decision intelligence through Aera Workspaces, a collaborative environment for creating, managing, and executing business models with advanced simulation and action capabilities [aeratechnology.com/aera-workspaces/]. The platform also features Agentic Ambient Orchestration, which activates and manages autonomous agents to streamline complex decision processes by blending structured and unstructured data, expertise, and the reasoning power of large language models [aeratechnology.com/agentic-ambient-orchestration/].

Dynamic Engagement offers a versatile user experience for AI-powered decision making, allowing users to engage with prescriptive recommendations via chat, voice, or inbox, and providing a real-time, holistic view of all decision-making activities through a Control Room [aeratechnology.com/dynamic-engagement/]. While Aera Technology details its comprehensive product suite and its applications across various business functions like supply chain, procurement, sales & marketing, finance, HR, and ESG, specific pricing plans, tiers, free vs. paid features, or recent pricing changes are not publicly disclosed on their website. Prospective customers are encouraged to schedule a personalized demo to learn how Aera Decision Cloud can benefit their operations and to receive AI-powered insights within 2 to 4 weeks [aeratechnology.com/demo/].

Hiring & Layoffs

Aera Technology Hiring and Layoffs

Aera Technology demonstrates a strategic and forward-looking approach to its workforce, emphasizing growth and innovation in the burgeoning field of Decision Intelligence. The company actively seeks individuals who are passionate about technology, innovation, and tackling significant challenges, aiming to build a global team dedicated to transforming enterprise businesses [https://www.aeratechnology.com/careers/]. This focus on talent acquisition aligns with their mission to make Decision Intelligence the operating system for global enterprises, as articulated by Co-Founder, President & CEO Frederic Laluyaux [https://www.aeratechnology.com/about-us/, https://www.aeratechnology.com/resources/].

Aera Technology integrates its commitment to workforce optimization directly into its product offerings, showcasing "Aera Skills™" for HR departments. These skills are designed to optimize workforce planning and performance by balancing capacity, predicting attrition risks, and guiding talent decisions [https://www.aeratechnology.com/skills/hr/]. This internal application of their technology underscores a strategic emphasis on efficient talent management, suggesting a proactive approach to staffing and development rather than reactive measures like widespread layoffs.

While specific details on recent hiring numbers or layoffs are not publicly available, the company's continuous development of Aera Skills™ across various business functions—including supply chain, procurement, sales & marketing, finance, HR, and ESG—indicates a sustained need for skilled professionals [https://www.aeratechnology.com/aera-skills/, https://www.aeratechnology.com/skills/supply-chain/]. The leadership team, including Chief People Officer Jonathan Walsh, reinforces the importance of human capital in achieving their vision of Agentic Decision Intelligence [https://www.aeratechnology.com/about-us/, https://aeratechnology.com/]. This strategic hiring pattern signals Aera Technology's commitment to expansion and innovation, attracting talent to support their advanced AI-powered decision-making platform [https://www.aeratechnology.com/demo/].

Leadership

Aera Technology Management and Leadership Team

Aera Technology is led by a strong executive team, with Frederic Laluyaux serving as Co-Founder, President, and CEO. Under his leadership, Aera Technology has been a pioneer in the Decision Intelligence category for nearly a decade, driving its evolution from concept to a recognized core system of intelligence that delivers significant value to enterprises [https://www.aeratechnology.com/news/aera-technology-named-leader-2026-gartner-magic-quadrant-decision-intelligence-platforms/]. Laluyaux frequently presents on the impact of Decision Intelligence, including at events like the Gartner Supply Chain Symposium/Xpo, where he discussed how companies like The Kraft Heinz Company are leveraging AI-powered decision intelligence for an end-to-end connected supply chain [https://www.aeratechnology.com/news/aera-technology-to-present-on-decision-intelligence-at-gartner-supply-chain-symposium-xpo-2025/].

Supporting Laluyaux is Shariq Mansoor, the Co-Founder and CTO, who plays a critical role in the company's technological advancements. The leadership team also includes Gonzalo Benedit as Chief Revenue Officer, Laurent Lefouet as Chief Strategy Officer, Joe Dery as Chief Customer Officer, and Folia Grace as Chief Marketing Officer [https://www.aeratechnology.com/about-us/].

Jonathan Walsh serves as Chief People Officer, overseeing human capital strategies. These key executives guide Aera Technology's mission to enable autonomous business decisions and redefine enterprise operations through Agentic Decision Intelligence™ [https://www.aeratechnology.com/news/aera-technology-introduces-agentic-ai-workspaces-and-control-room-to-enable-the-full-spectrum-of-enterprise-decisions/].

Recent discussions and presentations highlight the active involvement of Aera Technology's leadership. For instance, Gonzalo Benedit, Chief Revenue Officer, has been a speaker at events such as the Gartner Supply Chain Symposium/Xpo, discussing advancements in supply chain and customer care [https://www.aeratechnology.com/news/aera-technology-to-present-agentic-decision-intelligence-at-gartner-supply-chain-symposium-xpo-2026/]. The company's commitment to innovation in Agentic AI is further demonstrated by the contributions of senior vice presidents like Lalitha Sundaramurthy (SVP, Product Management) and Mustafa Onur Kabul (SVP, Data Science Machine Learning and AI) [https://www.aeratechnology.com/about-us/], who are instrumental in shaping Aera Technology's cutting-edge product offerings.

Financials

Aera Technology Financial Performance, Fundraising, M&A

Aera Technology (aeratechnology.com) has established itself as a significant player in the Decision Intelligence market, securing substantial funding to fuel its growth and innovation. The company successfully raised an $80 million Series C financing round in June 2019, led by DFJ Growth. This significant investment brought Aera Technology's total funding to $170 million to date, underscoring investor confidence in its vision for the self-driving enterprise and its Agentic Decision Intelligence™ platform [aeratechnology.com, meet.aeratechnology.com/hubfs/White%20Papers%20and%20Assets/Wang-CognitiveApps20.pdf].

While specific overall revenue figures are not publicly disclosed, Aera Technology highlights its impact on customer financial performance. The Aera Decision Cloud™ is shown to help businesses identify substantial revenue opportunities, with examples such as tracking forecasts on track at $1.2 billion with an additional $134 million revenue opportunity. Furthermore, the platform demonstrates its ability to reduce working capital by identifying efficiencies, like transferring excess inventory to reduce working capital by $22.1 million. This focus on tangible financial improvements for its customers suggests a robust value proposition driving its own financial health [aeratechnology.com].

Aera Technology continuously enhances its offerings, recently integrating generative AI into its Aera Decision Cloud™ platform to further advance AI decision automation for global enterprises [aeratechnology.com/news/aera-technology-empowers-enterprises-with-generative-ai-to-advance-decision-automation/]. The company reports delivering significant AI ROI for global enterprises, particularly in supply chain planning, leading to waste reductions of up to 20% and optimization of supply and demand [aeratechnology.com/news/aera-decision-cloud-empowers-front-line-teams-delivers-ai-roi-for-supply-chains/, aeratechnology.com/news/aera-technology-decision-intelligence-cuts-supply-chain-waste-by-20percent/]. These capabilities demonstrate Aera Technology's commitment to driving financial benefits for its clients, which in turn supports its own sustained growth and market position.

Partnerships

Aera Technology Partnerships, Clients and Vendors

Aera Technology cultivates strategic partnerships and client relationships to advance its Decision Intelligence platform. The company collaborates with a select group of organizations, including consulting firms, technology platforms, and data service providers, to accelerate time-to-value for enterprises globally [aeratechnology.com/partners/]. Key partners include EY, with whom Aera Technology formed an alliance to integrate Decision Intelligence into supply chain transformations [aeratechnology.com/news/ey-announces-alliance-with-aera-technology-to-unlock-the-power-of-decision-intelligence-in-supply-chain-transformation/]. Another significant collaboration is with Bristlecone, which combines Aera's Cognitive Operating System™ with Bristlecone's expertise in digital supply chain and procurement services [aeratechnology.com/news/bristlecone-and-aera-partnership-accelerates-the-journey-to-the-cognitive-supply-chain/]. Additionally, Kearney partners with Aera Technology to enhance supply chain agility and resilience by integrating Kearney's Sense and Pivot solution into Aera's Cognitive Operating System™ [aeratechnology.com/news/kearney-partners-with-aera-technology-to-drive-agility-and-resilience-in-supply-chains/].

Aera Technology serves a distinguished roster of global enterprises, with the world’s leading companies relying on its platform to optimize decisions across their value chains [aeratechnology.com/customers/]. Notable clients include Avantor, which leverages Aera for smarter life science supply chains, and Alcon, which uses Aera to transform logistics operations [aeratechnology.com/customers/].

Colgate-Palmolive Company has partnered with Aera Technology to automate complex decision-making for its Hill's Pet Nutrition division [aeratechnology.com/news/aera-technology-to-deploy-decision-intelligence-at-colgate-palmolive/]. The world's largest tequila producer, Proximo Spirits Inc., a subsidiary of Becle, utilizes Aera Decision Cloud™ to improve forecast accuracy for its high-growth heritage brands [aeratechnology.com/news/worlds-largest-tequila-producer-partners-with-aera-technology-to-deploy-decision-intelligence/]. Another client, a global CPG company with US$40 billion in annual sales, improved customer service levels and cash on hand by optimizing inventory and reducing supply chain costs with Aera [aeratechnology.com/case-study/ahp2/].

For technology integrations, Aera Technology offers comprehensive connectivity, unifying data across enterprise systems, including transactions, planning, analytics, unstructured data, IoT signals, and external sources through over 200 prebuilt connectors [aeratechnology.com/aera-decision-cloud/]. The company has also announced a collaboration with Microsoft to integrate Microsoft Azure Digital Twins with Aera’s Cognitive Operating System™, enabling the creation of next-generation connected IoT solutions that model the real world [aeratechnology.com/news/aera-technology-to-integrate-microsoft-azure-digital-twins-with-aera-cognitive-operating-system/]. This extensive ecosystem of partners, clients, and technological integrations underscores Aera Technology's commitment to delivering scalable Decision Intelligence solutions that drive efficiency and growth for diverse industries.

Events

Aera Technology Event Participations

Aera Technology actively engages with the global business and technology community through a variety of key events, most notably its annual AeraHUB summit.

AeraHUB serves as The Decision Intelligence Global Summit, bringing together visionary leaders to explore the future of work and the impact of decision intelligence. Recent iterations include AeraHUB 26, scheduled for October 27-28, 2026, in New York City (in-person and virtual), and AeraHUB 25, which convened executives and pioneers in November 2025 in New York City, with on-demand content also available from AeraHub London for those interested in previous sessions and keynote presentations [https://www.aeratechnology.com/events/][https://events.aeratechnology.com/aerahub26/][https://www.aeratechnology.com/aerahub-2025/][https://www.aeratechnology.com/aerahub-2025-london/][https://www.aeratechnology.com/news/aera-technology-showcases-the-enterprise-impact-of-agentic-decision-intelligence-at-aerahub-25-nyc/].

In addition to its flagship summit, Aera Technology maintains a significant presence at industry-leading conferences. The company was a Premier Sponsor at the Gartner Supply Chain Symposium/Xpo 2026, held in Orlando, FL, from May 4-6, 2026. At this event, Aera Technology showcased how its Aera Decision Cloud™ helps enterprises enhance agility, scale decision intelligence, and achieve measurable impact. They also hosted customer speaking sessions featuring leaders from The Estée Lauder Companies and Kerry Group, highlighting the transformative power of decision intelligence in global supply chains [https://meet.aeratechnology.com/gartner-supply-chain-symposium-may-4-6][https://www.aeratechnology.com/news/aera-technology-to-present-agentic-decision-intelligence-at-gartner-supply-chain-symposium-xpo-2026/].

Aera Technology also provides extensive educational content through its webinar series. These webinars cover crucial topics such as "Agentic AI for Enterprise Decisions: Demystifying the Build vs Buy Dilemma" and "AI that Drives Real ROI: An Agentic Decision Intelligence Overview." They also host the "Future Now Webinar Series," which delves into how Aera Technology's Decision Data Model addresses challenges posed by fragmented and outdated data, enabling real-time decision intelligence. Additionally, on-demand webinars like "The Agentic Enterprise: How AI Agents Are Redefining Decision-Making at Scale" are available, allowing organizations to learn how to transform insights into coordinated, real-time decisions [https://www.aeratechnology.com/webinars/][https://meet.aeratechnology.com/future-now-webinar-series][https://meet.aeratechnology.com/the-agentic-enterprise-how-ai-agents-are-redefining-decision-making-at-scale-feb26].

Frequently Asked Questions

What do Aera Technology's flagship events, like AeraHUB, signal about its strategic focus?

Aera Technology's active promotion of AeraHUB as 'The Decision Intelligence Global Summit' and its Premier Sponsorship at the Gartner Supply Chain Symposium/Xpo 2026 strongly indicate a strategic focus on positioning itself as a leader in Decision Intelligence, particularly within global supply chains. These events serve to showcase the enterprise impact of its Agentic Decision Intelligence platform and attract visionary leaders.

What does Aera Technology's development of 'Aera Skills™ for HR' suggest about its internal strategy and product direction?

Aera Technology's development and internal application of 'Aera Skills™ for HR' to optimize workforce planning and talent decisions suggest a dual strategy. Internally, it reflects a proactive commitment to efficient talent management and growth. Externally, it demonstrates the practical utility and versatility of its Decision Intelligence platform, potentially setting a precedent for 'eat your own dog food' product marketing across various business functions.

What is the core value proposition of Aera Technology's Agentic Decision Intelligence™?

Aera Technology's Agentic Decision Intelligence™ offers a core value proposition of transforming enterprises into intelligent, autonomous entities. Its platform, the Aera Decision Cloud™, integrates data, analytics, AI, and automation to proactively identify risks and opportunities, recommend optimal actions, and autonomously execute and learn from decisions, ultimately leading to faster, more adaptive, and higher-quality outcomes.

How does Aera Technology's funding history reflect investor confidence?

Aera Technology's successful $80 million Series C financing round in June 2019, which brought its total funding to $170 million, reflects substantial investor confidence. This investment, led by DFJ Growth, underscores belief in its vision for the 'self-driving enterprise' and its Agentic Decision Intelligence™ platform, despite specific overall revenue figures not being publicly disclosed.

What does Frederic Laluyaux's sustained leadership indicate about Aera Technology's strategic continuity?

Frederic Laluyaux's sustained role as Co-Founder, President, and CEO for nearly a decade, pioneering the Decision Intelligence category, indicates strong strategic continuity for Aera Technology. His consistent presence at key industry events like the Gartner Supply Chain Symposium/Xpo also reinforces a stable vision and focused execution in evolving Decision Intelligence into a core system for enterprises.

How does Aera Technology differentiate itself from RPA competitors like Thoughtonomy and Automation Anywhere?

Aera Technology differentiates itself from RPA competitors like Thoughtonomy (Blue Prism) and Automation Anywhere by offering a more advanced cognitive automation platform. While RPA focuses on automating repetitive, rule-based tasks, Aera Technology's Agentic Decision Intelligence™ aims for intelligent, end-to-end decision orchestration, where the platform not only automates but also understands context, makes real-time recommendations, acts autonomously, and continuously learns across the entire enterprise.

What does Aera Technology's partnership with Microsoft Azure Digital Twins signify for its product roadmap?

Aera Technology's partnership with Microsoft to integrate Azure Digital Twins with its Cognitive Operating System™ signifies a strategic move towards enhancing its real-world modeling capabilities and expanding into connected IoT solutions. This collaboration suggests a roadmap focused on leveraging advanced digital twin technology to create more precise and comprehensive representations of physical assets and processes within its Decision Intelligence platform.

What is the strategic advantage of Aera Technology's 'Decision Data Model™'?

The strategic advantage of Aera Technology's 'Decision Data Model™' is its ability to unify real-time data from disparate internal and external systems. This unification provides a harmonized data foundation that enables the Aera Decision Cloud™ to offer consistent, context-rich insights and power its AI-driven recommendations and autonomous actions across various business functions.

What do Aera Technology's customer success stories, such as with Avantor and Alcon, highlight about its market positioning?

Aera Technology's customer success stories with global leaders like Avantor and Alcon highlight its market positioning as a high-value solution for large enterprises facing complex operational challenges. These examples, spanning smarter life science supply chains and logistics transformations, underscore its ability to deliver tangible optimization and efficiency gains across critical business functions for sophisticated clients.

Given the lack of public pricing details, how does Aera Technology likely approach its pricing strategy?

Given the lack of publicly disclosed pricing plans, tiers, or free vs. paid features, Aera Technology likely employs a custom enterprise pricing model. This approach is common for sophisticated, AI-driven Decision Intelligence platforms that require significant implementation and customization, suggesting that pricing is tailored to each client's specific needs, scope, and anticipated ROI.

How does Aera Technology's focus on 'Agentic Ambient Orchestration' contribute to its competitive differentiation?

Aera Technology's focus on 'Agentic Ambient Orchestration' contributes to its competitive differentiation by enabling its platform to activate and manage autonomous agents that blend structured and unstructured data, expertise, and LLM reasoning. This capability allows for streamlined, complex decision processes that go beyond traditional automation or analytics, moving towards truly autonomous and intelligent enterprise operations.

What kind of ROI does Aera Technology claim to deliver for its clients, particularly in supply chain operations?

Aera Technology claims to deliver significant AI ROI for its global enterprise clients, particularly in supply chain planning. Examples include identifying $134 million in revenue opportunities, reducing working capital by $22.1 million through inventory optimization, and achieving waste reductions of up to 20% by optimizing supply and demand.

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