Bosch Security Systems has introduced In-Store Analytics, a solution to provide retailers with valuable insights on store traffic for improving operations, customer engagement, and sales. This cloud-based service uses position data generated by intelligent Bosch IP cameras to provide detailed information on how shoppers move throughout a store and interact with the displays.
As part of the solution, Bosch IP panoramic cameras are installed to provide high visibility of the retail floor. The cameras use onboard Intelligent Video Analytics to create position data of shoppers’ movements. This data is then sent directly to the Bosch Security cloud, where it is further processed without video streams ever leaving the retailer’s premise. Unlike many systems that need on-site PCs to pre-process the video or that require the transmission of video streams, Bosch’s solution protects the privacy of individual shoppers and enables In-Store Analytics to deliver traffic data for stores with a high camera count. This solution scales to cover even the largest retail stores and large multi-store chains.
In the Bosch Security cloud, position data is mined into performance results that are shared with the retailer through a web interface and that can also be exported to the retailer’s data warehouse. The In-Store Analytics web interface is designed to deliver actionable insights without requiring the user to have knowledge on querying databases or other data mining expertise. Bosch currently provides a customized web interface for merchandising managers and will offer interfaces for operations and loss prevention managers in the future.
For merchandisers, In-Store Analytics delivers shopper traffic and behavior insights to enable more informed decisions. Sales of retail products often depend on their placement within the store and at what point shoppers see the items on their journey through the retail floor. In-Store Analytics provides merchandisers with store traffic visualization tools, such as a flow analysis, to enable retailers to determine if shoppers are moving through the store in the way that the merchandisers intended. The solution shows where shoppers walk, stop and dwell, and provides performance metrics such as engagement times and rates, based on the actual number and behavior of shoppers at a display. This helps merchandisers evaluate the performance of each display in the store, providing them the information they need to increase customer engagement with products, which can lead to increased sales and revenue.
“In-Store Analytics was developed based on input from retailers who stressed the value of actionable data,” said Chris Larcinese, regional marketing manager, Bosch Security Systems. “Results from initial pilot projects have provided the retailers with the ability to track and measure key performance indicators and gain vital insights for enhancing customer engagement.”
Retailers will benefit from actionable insights from the solution, as the shopper data delivered by In-Store Analytics has a high accuracy rate. This is due to the superior reliability of the Intelligent Video Analytics that comes standard on Bosch FLEXIDOME IP panoramic 7000 MP cameras, as well as the advanced cloud-based processing algorithms that filter the shopper position data according to individual store environments.
For more information on In-Store Analytics from Bosch, visit cloud.boschsecurity.com.