{"id":12094,"date":"2024-03-20T15:08:02","date_gmt":"2024-03-20T15:08:02","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/ai-analytics-and-the-smart-store-news\/"},"modified":"2024-03-20T15:08:02","modified_gmt":"2024-03-20T15:08:02","slug":"ai-analytics-and-the-smart-store-news","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/ai-analytics-and-the-smart-store-news\/","title":{"rendered":"AI, analytics and the smart store | News"},"content":{"rendered":"

\"Retail<\/a><\/p>
\n<\/p>\n

\n

Andrew Quinton, Senior Manager at BT, 5G & IoT Solutions, outlines harnessing the power of AI and analytics to create a smart store<\/strong><\/p>\n

Th<\/span>e UK <\/span>retail sector <\/span>is undergoing rapid transformation as it grapples with disruptions to supply chains<\/span>, <\/span>changes<\/span>in<\/span> consumer <\/span>behaviour<\/span> accelerated by the pandemic and the cost-of-living crisis,<\/span> and pressures to deliver on sustainability.<\/span><\/p>\n

Without full-scale digital transformation<\/span>, harnessed through the <\/span>power of<\/span> Artificial Intelligence (AI)<\/span> and real-time data analytic<\/span>s<\/span> innovations<\/span> that<\/span> help create \u2018smart stores\u2019, <\/span>retailers <\/span>risk<\/span> rapidly<\/span> fall<\/span>ing<\/span> behind<\/span> the competit<\/span>ion<\/span>.<\/span><\/p>\n

There\u2019s a growing demand from retailers for fast and secure data<\/span> – <\/span>and lots of it<\/span> – <\/span>to keep up with supply chain needs<\/span> and shifts in customer behaviour<\/span> – <\/span>who expect personalised, seamless and secure shopping experiences.<\/span><\/p>\n

It\u2019s never been more important to keep up<\/span>–<\/span>to<\/span>–<\/span>date with the latest digital solutions on<\/span> customer<\/span> analytics<\/span>, <\/span>data transfers, <\/span>inventory management, <\/span>efficient energy<\/span>management <\/span>and<\/span> enhanced<\/span> in-store and cyber <\/span>security.<\/span><\/p>\n

Our recently published <\/span>‘Buying into the fu<\/span>t<\/span>ure of retail’<\/span>whitepaper explores how smart technology choices involving AI and analytics can transform operations, customer experiences and sustainability, helping retailers stay ahead of the competition<\/span>.<\/span><\/p>\n

As<\/span> one of the UK\u2019s leading telecoms companies<\/span>, w<\/span>e<\/span>ha<\/span>ve<\/span> a<\/span>n extensive<\/span> network infrastructure and <\/span>substantial<\/span>experience providing <\/span>high-performance <\/span>connectivity services, powered by innovative technolog<\/span>y<\/span> solutions<\/span> to businesses of all sizes.<\/span><\/p>\n

Our <\/span>c<\/span>utting-edge <\/span>digital innovations<\/span>,<\/span> such as<\/span> AI-powered<\/span> Digital<\/span> Vision, Active Intelligence <\/span>(<\/span>a world-leading data and analytics solution<\/span>),<\/span> 5G <\/span>P<\/span>rivate <\/span>N<\/span>etworks and Internet of Things<\/span> (<\/span>IoT<\/span>)<\/span>, <\/span>are all <\/span>underpinned by <\/span>our<\/span> future<\/span>–<\/span>ready infrastructure<\/span> that can optimise operations<\/span>,<\/span> and drive growth for any retail business on its digital transformation journey.<\/span><\/p>\n

Digital Vision<\/p>\n

Digital Vision is our computer-aided vision solution.<\/span> As a form of AI, it allows retail systems to process and \u2018think\u2019, and the Digital Vision allows them to \u2018see\u2019.<\/span> It provides retailers with valuable customer data, enhanced store security, and staff and workplace safety solutions<\/span> to create<\/span> the ideal smart store environment<\/span>.<\/span><\/p>\n

It <\/span>does so by <\/span>enabl<\/span>ing<\/span> retailers to a<\/span>nalys<\/span>e<\/span> live<\/span> and recorded video <\/span>footage from camera<\/span>s<\/span> and<\/span> run<\/span> data analytics in<\/span> real-time<\/span>. This data<\/span> can<\/span> then<\/span> be used to generate live alarms<\/span> for store security issues such as anti-social behaviour and theft,<\/span> and<\/span> provide<\/span> in-depth <\/span>custom reports.<\/span><\/p>\n

Digital <\/span>V<\/span>ision also provides b<\/span>usinesses <\/span>with<\/span> in<\/span>valuable customer insights through r<\/span>ich data<\/span>, which <\/span>can <\/span>p<\/span>rovide stat<\/span>istics<\/span> on passing trade conversion<\/span>, the <\/span>n<\/span>umber<\/span> of people in store, average customer time in<\/span>–<\/span>store, heat maps<\/span> and <\/span>dwell time<\/span> etc.<\/span><\/p>\n

Key b<\/span>enefits<\/span><\/p>\n

\u2022 <\/span>Automatically converts video into metadata<\/span>, <\/span>improv<\/span>ing<\/span>response times,<\/span> and<\/span> driv<\/span>ing<\/span> operational efficiencies and new business models.<\/span><\/p>\n

\u2022 <\/span>Drive<\/span>s<\/span> in-store revenue<\/span>, l<\/span>everag<\/span>ing<\/span> CCTV footage <\/span>to <\/span>understand what drives conversions in<\/span>–<\/span>store.<\/span><\/p>\n

\u2022 <\/span>Improve<\/span>s<\/span> staff productivity<\/span> and optimises store operations<\/span> by identifying<\/span> underutilised <\/span>store<\/span> space<\/span>.<\/span><\/p>\n

\u2022 <\/span>Enhances<\/span> customer experience <\/span>through<\/span> identification of check-out queues<\/span> and detection of vehicle overstay in retail shopping car parks.<\/span><\/p>\n

\u2022 <\/span>Help<\/span>s<\/span> monitor storerooms and back<\/span>–<\/span>of<\/span>–<\/span>house areas to better understand staff performance, to avoid intrusion, or notify if a lone worker has an accident.<\/span><\/p>\n

\u2022 <\/span>It doesn\u2019t require <\/span>instal<\/span>ling <\/span>new hardware <\/span>and can be implemented using<\/span> existing infrastructure. <\/span><\/p>\n

Active Intelligence<\/p>\n

Our <\/span>Active Intelligence<\/span> solution<\/span> enabl<\/span>es<\/span> retailers<\/span> to<\/span>actively and continuously monitor, analyse and respond to real-time data and events<\/span>, enabl<\/span>ing<\/span> them to make <\/span>informed decisions based on <\/span>up-to-date<\/span> information.<\/span><\/p>\n

O<\/span>ur partnership with EE, the UK\u2019s biggest 4G and 5G mobile network, <\/span>means that we<\/span> have the biggest and the best mobile data set in the UK, and we know how to use it.<\/span><\/p>\n

Benefits<\/span><\/p>\n

\u2022 <\/span>Cutting<\/span>–<\/span>edge data science combined with machine learning and data generated from 24 million mobile devices is <\/span>a <\/span>powerful<\/span> resource for retailers to leverage<\/span>.<\/span> It means we can analyse the location, movement and web and app behaviours of <\/span>retail<\/span>customers<\/span>.<\/span><\/p>\n

\u2022 <\/span>We also have the UK\u2019s largest shopper-behaviour datasets, which is perfect for retail companies to make better informed investment decisions.<\/span><\/p>\n

\u2022 <\/span>We can help <\/span>retailers<\/span> analyse and quantify demand and catchment of existing <\/span>stores<\/span>, and the economic potential of new ones.<\/span><\/p>\n

\u2022 <\/span>S<\/span>ecurity of personal data is <\/span>paramount to every retailer<\/span>.<\/span> We go to great lengths to ensure the privacy of data<\/span> without compromising on the<\/span> value of the insights we provide.<\/span><\/p>\n

5G <\/span>P<\/span>rivate <\/span>N<\/span>etworks<\/span><\/p>\n

5G was created to enable the industrialisation of many of our technological advances. Vertical examples include transport and logistics, where 5G enables real-time workflow and cloud data automation, and in manufacturing, where automated guided vehicles (AGVs) are now operating in industrial settings.<\/p>\n

In the retail space, <\/span>a 5G <\/span>P<\/span>rivate <\/span>N<\/span>etwork<\/span> provides<\/span>retailers <\/span>with <\/span>a totally \u2018private\u2019 network that\u2019s managed alongside their wider connectivity <\/span>retail <\/span>estate.<\/span><\/p>\n

Many retailers are investing in 5G <\/span>P<\/span>rivate <\/span>N<\/span>etworks to build smarter warehouses<\/span> and <\/span>play a key role in maximising organisational efficiency and revenue.<\/span><\/p>\n

They are also doing so to help transition to digitised inventory. An integrated 5G <\/span>P<\/span>rivate <\/span>N<\/span>etwork can deliver up-to-the-minute stock-taking, reduce shrinkage and waste and ensure each product is in the right place at the right time \u2013 through enhanced connectivity.<\/span><\/p>\n

Benefits<\/p>\n


\u2022 <\/span>Faster connection speeds<\/span>.<\/span><\/p>\n

\u2022 <\/span>Ultra reliable and responsive network<\/span>.<\/span><\/p>\n

\u2022 <\/span>Ultra-low latency (data travel time) \u2013 important in automation and robotics<\/span>.<\/span><\/p>\n

\u00a0<\/p>\n

\u2022 <\/span>More capacity \u2013 allows for more IoT (Internet of Things) tech devices<\/span>,<\/span> such as sensors<\/span>,<\/span> to connect to the network<\/span>.<\/span><\/p>\n

\u00a0<\/p>\n

\u2022 <\/span>More secure \u2013 latest security protocols and standards, so less vulnerable to cyber attacks than Wi-Fi networks<\/span>.<\/span><\/p>\n

\u00a0<\/p>\n

\u2022 <\/span>More flexible \u2013 can be optimised and fine-tuned<\/span>.<\/span><\/p>\n

We launched the UK\u2019s first 5G network back in 2019. Since then, RootMetrics\u00ae has rated <\/span>EE\u2019s (subsidiary of BT <\/span>G<\/span>roup) 5G network as the UK\u2019s Number 1<\/span> every year. Its extensive network coverage also means it can help retailers operate at scale, which is hugely beneficial for businesses looking to expand their number of retail outlets.<\/span><\/p>\n

We<\/span> can deliver custom-built, optimised and future-proofed private networks tailored to the retailer\u2019s needs, creating more opportunities for a business to grow, while adding an extra layer of security.<\/span><\/p>\n

In the next year or two, <\/span>we\u2019ll<\/span> be able to offer both 5G private (company) and public (customer) shared networks, without using on-premises equipment that can take up a lot of space, which means it\u2019ll be more cost-effective for retailers.<\/span><\/p>\n

Internet of Things (<\/span>IoT<\/span>)<\/span><\/p>\n

IoT refers to the network of physical devices<\/span> and other objects that are embedded with sensors, software and connectivity capabilities, allowing them to collect and exchange data over the <\/span>i<\/span>nternet.<\/span><\/p>\n

The goal of IoT is to create a network of interconnected devices that can seamlessly communicate and interact with each other, enabling automation, real-time monitoring and intelligent decision-making. <\/span><\/p>\n

Benefits<\/span><\/p>\n

\u2022 <\/span>Customer Analytics<\/span>:<\/span> With IoT devices, such as beacons and sensors, valuable data can be collected on customer behaviour, footfall patterns and product interactions. This data can be analysed to gain insights into customer preferences, improve store layout and personalise marketing campaigns.<\/span><\/p>\n

\u2022 <\/span>Seamless Omnichannel Experience<\/span>:<\/span> IoT solutions enable seamless integration of online and offline retail channels. This allows retailers to offer personalised, location-based promotions, click-and-collect services and real-time inventory visibility across various touchpoints.<\/span><\/p>\n

\u2022 <\/span>Smart Shelf Management<\/span>: <\/span>IoT solutions can be integrated with smart shelves that use sensors on connected devices like smart scales that can detect if an object is removed from a specific place and identify when an object needs to be replaced.<\/span><\/p>\n

\u2022 <\/span>Enhanced Inventory Management<\/span>:<\/span> By utili<\/span>s<\/span>ing IoT sensors and connectivity, IoT solutions enable real-time tracking and monitoring of inventory levels. This ensures accurate stock management<\/span> and improves overall supply chain efficiency.<\/span><\/p>\n

\u2022 <\/span>Efficient Energy Management<\/span>:<\/span> With sustainability becoming an ever more important issue, IoT-enabled sensors can help retailers optimi<\/span>s<\/span>e energy usage in their stores. This includes monitoring and controlling lighting, heating and cooling systems.<\/span> Effective use of IoT technology<\/span> c<\/span>an optimise energy costs and carbon emissions,<\/span> reducing consumption<\/span> by up to 30%.<\/span><\/p>\n

\u2022 <\/span>Enhanced Security:<\/span> A<\/span>dvanced security features, including video surveillance, access control systems and alarm integration<\/span>, can<\/span> help retailers protect their premises, prevent theft and ensure a secure environment for both customers and employees.<\/span><\/p>\n

\u2022 <\/span>Supply Chain Optimi<\/span>s<\/span>ation<\/span>:<\/span> IoT connectivity and data analytics enable end-to-end supply chain visibility. Retailers can track shipments, monitor product conditions and <\/span>identify bottlenecks or inefficiencies, leading to improved logistics and faster delivery times.<\/span><\/p>\n

Every IoT project needs rock-solid connectivity. <\/span>Every organisation has different IoT requirements, but all have growing demands for data – and need it faster than ever before.<\/span><\/p>\n

That’s why many of the <\/span>UK\u2019s leading retailers<\/span> partner<\/span>with us<\/span> to deliver the fastest and most reliable connectivity in the country<\/span>.<\/span> With low latency and high bandwidth,<\/span> our<\/span> 5G is perfect for applications such as video surveillance, <\/span>AR<\/span> and real-time environmental monitoring.<\/span><\/p>\n

The pace of digital transformation and the need to implement the latest<\/span> AI<\/span> innovation<\/span> solutions<\/span> and data <\/span>analytics<\/span> systems<\/span> seamlessly and securely \u2013 at scale – can be a daunting prospect for <\/span>many <\/span>retail businesses.<\/span><\/p>\n

As<\/span> a trusted telecoms partner and leader in the <\/span>digital<\/span>innovation<\/span>s and data <\/span>analytics space, <\/span>we <\/span>can <\/span>help<\/span>retailers<\/span> create smart stores at scale <\/span>and future-proof their businesses.<\/span><\/p>\n

And as<\/span> the third largest investor in <\/span>research and development<\/span> over the past <\/span>10<\/span> years,<\/span> with a portfolio of over 4,700 patents, our<\/span> commitment to innovation is so long-standing it\u2019s become <\/span>embedded<\/span> in <\/span>our DNA.<\/span><\/p>\n

But perhaps most importantly, a<\/span>s the UK\u2019s leader in <\/span>network <\/span>infrastructure<\/span> and connectivity<\/span>, <\/span>we<\/span> offer <\/span>a suite of integrated<\/span> solution<\/span>s<\/span>\u200b for businesses looking to <\/span>invest in the latest cutting-edge<\/span> products<\/span>, to help deliver <\/span>seamless, secure and sustainable<\/span> services for c<\/span>ustomers<\/span> across their multiple channels.<\/span><\/p>\n

For more information, visit our<\/span>\u00a0<\/span>webs<\/span>i<\/span>te<\/span>.<\/span><\/p>\n<\/div>\n

\"Retail<\/a><\/p>
<\/p>\n","protected":false},"excerpt":{"rendered":"

Andrew Quinton, Senior Manager at BT, 5G & IoT Solutions, outlines harnessing the power of AI and analytics to create a smart store The UK […]<\/p>\n","protected":false},"author":1,"featured_media":12095,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-12094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/12094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/comments?post=12094"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/12094\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/12095"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=12094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=12094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=12094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}