"Analyzing this data can help assess the degree of success of many store initiatives such as intraday changes in signage, end caps, staffing levels, open/close times or any other store activity that can be associated with time of day.”
San Jose, CA (PRWEB) April 12, 2010
BVI Networks continues to expand its already robust retail business intelligence platform, RetailNEXT, providing what is rapidly becoming the standard approach to in-store monitoring; a single platform that automatically creates, aggregates and reports key store activity and performance metrics from every store, every day.
In the March 11, 2010 “BVI Networks Delivers Real-Time Store Monitoring” report, Gartner analyst, Hung LeHong states that “The immediate benefit to retailers is the ability to analyze sales conversion data by time of day and by location. Analyzing this data can help assess the degree of success of many store initiatives such as intraday changes in signage, end caps, staffing levels, open/close times or any other store activity that can be associated with time of day.”
Current product enhancements are focused on two main areas: 1)Conversion management and traffic flow optimization with the addition of an advanced heat mapping feature and 2) staffing optimization through automated reporting of key resource performance metrics tied to traffic and dwell information. This focus reflects BVI Network’s ongoing dedication and ability to meet the unique requirements of managing a retail store environment. Map data overlay and store hot zone optimization have always been benefits of RetailNEXT, but now, with additional development attention in these two areas, retailers are given further revolutionary insight and in-depth analysis of staff to store activities.
"In every conversation we have with our clients we try to identify new requirements that will help them accomplish even more,” says Alexei Agratchev, CEO of BVI Networks. “Their requirements become our roadmap and have lead to a system that not only addresses multiple retail needs with a single platform investment, but is optimized for the store environment and is architected to scale to thousands of stores in a way that is affordable and easy to deploy.”
Enhanced RetailNEXT Features:
Store Heat Map: In the map view, data can be viewed as an overlay, or on top of the store plan-o-gram. This allows for easy viewing and knowledge of where high traffic, dwell, POS, and view activity is located in real-time. The heat map is a visual representation of the data that helps users instantly identify high traffic locations or high levels of customer interaction.
Staffing Enhancements: RetailNEXT will continue to provide per minute and hour foot traffic, giving retailers visibility into the locations and times that their store sees the most shopper activity. Now, the RetailNEXT solution automates reporting of staff-to-customer ratios, staff-to-sales ratios, as well as the number of associates in the store at any time. This feature enhancement allows retailers to monitor and influence store performance based on their staffing decisions. All staffing metrics can be compared to existing RetailNEXT store data, such as IPT, foot traffic, display and aisle engagement, and shopper views, in order to achieve deeper shopper and store activity insights.
BVI Networks’ RetailNEXT is a complete solution that enables retailers and manufacturers to use video, transaction data from business systems, and best in class video analytics algorithms to address some of their highest priority objectives in terms of optimizing store operations, gaining valuable marketing & sales data and improving security. It automatically provides real-time answers to key in-store questions such as: what are my store traffic patterns; what are my store hot zones; what is the stoppage power of a display; what is my conversion rate for the store and individual sections; are my stores properly staffed?
About BVI Networks
BVI Networks offers the only in-store business intelligence solution proven to deliver clear, actionable information and measurable ROI across multiple store departments within weeks of installation. The open RetailNEXT platform provides real-time and near real-time customer metrics that let retailers dramatically improve store execution and customer satisfaction by optimizing staffing, merchandise placement, and in-store advertisements. RetailNEXT also enables brand manufacturers to make much better product and marketing decisions and truly measure ROI on advertising investments. The BVI Networks team includes former senior managers from Cisco, Motorola, IBM, Juniper, Novell and Intel, as well as retail professionals with extensive backgrounds in operations, merchandising and asset protection. BVI Networks is rapidly establishing partnerships with leading in-store solution providers and is quickly expanding its customer base. Early customers include major big box retail chains, grocery stores, hardware stores and specialty retailers. BVI Networks is headquartered in San Jose, California.
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