Brick-and-mortar Retail Innovations with Internet of Things and Machine Learning
Introduction - 0:00
Demonstration part 1: Measure and act - 2:18
Demonstration part 2: Machine learning - 15:16
Demonstration part 3: Conclusion - 19:16
Wonderstore background - 20:20
Analytics cases in Retail - 27:03
In 30m we will demystify how Machine Learning and the Internet of Things work in Retail by going through a real demo that show you how to:
increase the window conversion rate (how well does the storefront draw in shoppers)
increase shop entrance to sale conversion rate
lower operational running cost
plan your staffing better
We'll focus especially on brick-and-mortar retailers, who traditionally have found it difficult to collect information on their customers. Loyalty programs have helped to some extent, but most shop visitors don’t sign up for them, leaving the retailer "blind" for the preferences of their customers.
New technological innovations such as intelligent cameras allow us to collect relevant information from our shop visitors. Think about data points such as customer age and gender. Combined with smart data analytics and machine learning, this gives us the capability to really understand our customer’s behaviour and give him/her the best offers and service.
The Powerpoint can be found here: / 48fllpl