Real-time In-store Insights (RII) solution aims to leverage IoT-powered insights to re-imagine the retail space and transform the shopping experience. RII utilizes radar sensing technology
The 4 week implementation of the Real-time In-store Insights (RII) solution will help us to showcase how it will help address the challenges faced by Retailers in getting in-store insights to offer personalized services and improve store operations. The solution leverages Microsoft Azure to provide insights based on data collected from sensors and uses IoT Edge components to perform store level data aggregation, run AI/ML models. IoT Hub is leveraged to connect store devices to cloud and start collecting data from sensors to derive business insights that are relevant to retailers. Azure VMs are used for data processing and computations and Blob storage for historical data storage.
###Key Takeaways from the Implementation
Overview on how to create contextual demographic sets, correlate with seasonality and analyze buyer behavior using the data collected
Overview of the process to transform store layout, redefine product lifecycles and rethink staffing around shopper interactions, based on footfall trends and purchase trends for optimizing operational costs using the collected data
Illustration on how the collected data will be used to run intelligent in-store promotions based on key shopper touchpoints and designing smart planograms to boost conversion rates and sales per square feet
Overview on how we can integrate the solution with PoS and existing loyalty programs to improve customer retention and design adaptable business models. Easy global deployment with minimal upfront investment