Retail Video Analytics
Retail Video Analytics is the practice of analyzing live capture video with sophisticated algorithms to identify areas of improvements for a variety of retail operations. By gathering and analyzing actual in-store performance, retailers now have the ability to monitor, measure and manage what is impacting the customer experience in their stores.
Retail Video Analytics can be used to measure and improve performance in any of the following areas of the retail experience:
People: Detailed information can be gathered on processes and experiences that affect customers and employees in the store, including entrance/exit data, queue management, wait times, and related activities at any customer service location.
Merchandising: Actionable information can be obtained on in-store merchandise including stock-outs, promotional compliance, and planogram execution.
Engagement: Critical insight can be gained on in-store customer engagement with store employees, merchandise or technologies.
The Benefits of Retail Video Analytics
Retail employees, managers and executives need accurate, timely, and actionable information to make decisions. Using the power of retail video analytics, employees, managers and executives can drive business decisions based on facts rather than anecdotes and work to improve the customer experience, which results in repeat satisfied customers.
The power of retail video analytics is derived from a number of efficiencies that can be gained through a centralized solution:
- Mangers and executives do not have to watch the videos themselves which is a notoriously time consuming and inefficient process.
- Analytic algorithms can be specifically applied to various store operations such as customer engagement, merchandising and queue management to target specific areas of improvement
- Dashboards can be created for both macro and micro data to view metrics at national, regional or store level
Retail Video Analytics Solutions from SCOPIX
The SCOPIX Real.Suite™ is a ground breaking set of cloud-based applications that harness the power of retail video analytics to provide actionable information anywhere, anytime, to anyone who needs it. This Software as a Service leverages a powerful combination of modern web-based dashboard technology, sophisticated algorithms and human verification to provide real-time data with an accuracy rate of 98% or better.
This gives the retailer maximum access to actionable data allowing them make timely decisions that can improve both their top and bottom lines.
For more information about how you can in-store drive business results, contact us at 1-650-295-0450 or send us an email at JLIB_HTML_CLOAKING .