Business Intelligence for Smarter Retail
Hanwha Techwin has introduced a business intelligence application which enables retailers to gain a greater understanding of customer behaviour and buying patterns. It is designed to supplement video surveillance and uses cost-effective cameras, thus reducing costs while increasing the return on investment.
Wisenet Retail Insight utilises licence-free people counting, heat mapping and queue management applications, running on board selected Wisenet Q and Wisenet X fixed lens and fish-eye 360 degree cameras to display statistical analytics on a centralised dashboard, along with other practical information such as weather reports and information from other data feeds.
Accessed from anywhere on the network, Retail Insight is a web-based application which consolidates the data captured by the three analytics applications, presenting it on a customisable dashboard to ensure it is easily actionable by managers and system operators. The dashboard can support data streams from up to 500 Wisenet Q or X series cameras, making it scalable for larger applications.
Retailers are able to take advantage of the captured data to measure the impact of advertising, on-line promotions and other marketing activities across a large number of people who enter their stores, as well as making best use of human resources in order to manage the peaks and troughs of customer flow at checkouts.
‘With revenues and profitability under threat, retailers are understandably looking at ways to improve productivity,’ stated Uri Guterman, Head of Product and Marketing for Hanwha Techwin Europe. ‘In terms of the business intelligence which could be made available to operations, marketing, merchandising and store management, the metadata traditionally extracted from Electronic Point of Sale (EPOS) systems is unlikely to be sufficient for retailers to identify opportunities to increase productivity or improve the customer experience.
‘Retail Insight complements the business intelligence which can be extracted from EPOS by providing an affordable and extremely easy-to-use tool for retailers to compare a store’s current sales performance with historical sales data, as well as against other stores within a chain.’
Wisenet Retail Insight generates reports in a variety of formats including PDF, Excel, CSV or HTML.
With the help of five customisable tabbed screens, users are able to view real-time updates on a wide range of activity, including the number of store visitors for any particular time of day or accumulatively over a specified period of time, as well as data on queue congestion times and heat mapping information showing the busiest areas of a store.
For more information, please visit the Hanwha Techwin website.