It is imperative to study the evolution of in store analytics to understand where it is headed and be prepared for what is yet to come. Retailers have come a long way in tracking their visitor’s behavior. And interpreting what it means and what it should mean to them. Similarly, technology innovations have developed to catch up those days are long gone. When beam sensors and thermal people counters technology was set as the highest standard with the launch of new people counting cameras. That have reached its ultimate peak to provide over 98% accuracy. Surprisingly, it has not stopped there, of course, thanks to WiFi and Bluetooth technologies. In view of the fact, it is now possible to follow the footprints of the customers.
Moreover, retailers know where their v-count a leading people counter manufacturing company shared an understanding back in 2012 on the past present. The future of the retail and new people counting it proposes that it all initiated. With expressive analytics which allowed retailers to understand what is going on in their stores. The next step was indicative analytics by which why the things that happened in your store become a public question to ask.
In this process by gathering and analyzing that which information will deliver a useful foresight to retailers. He started to think about what might happen is known as predictive analytics. Although these insights are important to retailers for their own knowledge and understanding. The prophetic examination required in inspiring to take in store decisions at the moment of a sales increasing activity. The year 2016 was a new start of prescriptive analytics. Which directed people to ask what should be done with inclusive insights to the completely optimized business.
Why Is Prescriptive Analysis Gaining Such High Importance?
It is realized as the missing piece of the retail business analytics mystery? Executives are now encouraged to think more boldly about their data and potential. According to the November 2015 report released by idc research on big data analytics. In fact, their prediction was that by 2020, 50% of all business analytics software are going to incorporate prescriptive analytics which built on cognitive computing functionality. Global industry analysts a world leader in market research claimed. Global market potential for prescriptive analytics is forecast to reach 1.6 billion by 2022 in business of intelligence and analytics.
In-Store Reporting Technologies
This development is enlightened as collecting understanding and acting on data as it happens. People counting cameras are stepping up by proposing advanced technology linked with different bi tools to catch up with the new prescriptive analytics age. Surprisingly, it is more modified than ever and with the gender recognition or you can also say face recognition. In store reporting technologies in totaling to people counters equipped with software applications to provide the best level of reporting.
Additionally, its gender split technology allows retailers to understand their customer s gender what percentage is male and what percentage is female. In order to improve their operations consequently. On the other hand, push notifications will provide a stronger determination to purchase and inspire them to feel more special by getting their adapted needs. For more ease of use and a wider reach the mobile world has occurred as to go to and leading platform for this communication.
The question is rising that who will adapt this future innovation and will become a real game changer. However, the gap between data driven companies. Those who rely on their gut feeling in their decision making process will be the main element in. Who will become the winner and who loses of this rapidly if you are willing to try. Latest people counting system consultant Xcentric services to get a people counting camera for your business venue.