Vaidhi Nathan, CEO Today’s retail space is facing the wind of e-Commerce. The recently held National Retail Federation Convention at NY reflects the same tone, where retail sales in 2016 are expected to mirror 2015, and continue the current pattern of slow and steady growth. Commenting on such a sluggish pace of the retail market, Vaidhi Nathan, President and CEO of IntelliVision, begins, The online market has grown from zero to 15 percent, taking market share from retail.” He continues, “This gradual shift is the result of the retail store’s inability to keep up with the technological pace of retail intelligence.” With a goal to eliminate these adversities, IntelliVision offers a complete suite of video-based retail solutions, products, and analytics to accumulate in-store customer data. This retail data and customer information can be then presented effectively on interactive dashboards running on PCs, smart phones and other wireless devices. The information includes store performance, customer metrics, promotion monitoring, and conversion rates. “Our timely and up-to-date statistics help the store to streamline decisions, improve customer experience, operate efficiently and generate more ROI,” says Nathan.
The company imparts business intelligence in retail analytics by deploying smart cameras at retail stores to analyze real time video, extract, mine and present relevant and critical information for management to gain awareness on marketing, finance and service-support metrics. The parameters for this analysis include traffic counts, customer demographics, customer service time, Point of Sale (POS) analytics and store comparisons. The data collected through sensory equipment (camera) is stored in servers and gets processed through analytical algorithms to produce business insights. The solution subsequently leverages managed cloud services to present the information on wireless devices including laptops, mobiles and iPads. “Moreover, the ability of our solution to provide hourly, daily or weekly reports, empower the store managers to effectively use this data,” says Nathan.
With no QR codes or typing required, our SnapSearch application brings an enriched data experience for the users
Besides helping improve Key Performance Indicators (KPIs) of retailers, IntelliVision’s solution identifies abnormal transactions and activities with its face-recognition feature. “The robust security and surveillance capability of our solution also prevents shoplifting and thus protects the store assets,” adds Nathan.
Guided by a drive for innovation, IntelliVision is rolling out a breakthrough application, SnapSearch™ that entails users to utilize their smart phone’s camera to capture any product, and thereby gain complete pertinent information of the article in few seconds. The information includes product descriptions, price comparisons, reviews, and links to the relevant vendors. “With no QR codes or typing required, our application brings an enriched data experience for the users,” says Nathan.
Since inception, IntelliVision’s large range of solutions and services has brought value to numerous, illustrious clients including the U.S. military, Homeland Security, and the National Security Agency (NSA) amongst others. In the retail banking market Wells Fargo capitalizes on the company’s smart camera solutions for queue management of their customers. Also a leading supermarket utilizes the company’s retail intelligence solution to monitor performance metrics of their store. One of the top five mobile cell phone operators is leveraging IntelliVision’s video analytics product to identify the customer behavior and interests.
After imprinting their mark on such a large geography, in the days to come the company aims for deeper penetration of business and actionable analytics into their smart and intelligent devices. Acknowledging that innovation is the torchbearer of the company's success, Nathan concludes, "We have a culture where innovation and ideas are welcome, and thus we stand by it.”
