Retail Intelligence is the set of tools and applications focused on the creation and
management of knowledge through the recollection, processing, interaction and analysis of information generated in all operations performed by any retailer.
Retail Intelligence applications can relate in real-time and interactively, the internal variables (range, space, pricing, promotions, staff, sales) with the
external variable
In the C programming language, and its predecessor B, an external variable is a variable defined outside any function block. On the other hand, a local (automatic) variable is a variable defined inside a function block.
Definition, declarati ...
s (influence zone and its commercial mix), with different parameters of the shopper's behavior, such as
pedestrian
A pedestrian is a person traveling on foot, by wheelchair or with other mobility aids. Streets and roads often have a designated footpath for pedestrian traffic, called the '' sidewalk'' in North American English, the ''pavement'' in British En ...
flows and magnitudes, length of stay, occupancy, hot spots, etc.
These applications provide users with a greater understanding of the current functioning of the points of sale and the
buyer behaviour (shopper), to anticipate future events, with the aim of improving the competitive position of its portfolio of stores increasing
profitability
In economics, profit is the difference between revenue that an economic entity has received from its outputs and total costs of its inputs, also known as surplus value. It is equal to total revenue minus total cost, including both Explicit co ...
, efficiency commercial and
customer service
Customer service is the assistance and advice provided by a company to those who buy or use its products or services, either in person or remotely. Customer service is often practiced in a way that reflects the strategies and values of a firm, and ...
, and identify new business opportunities.
Operation
Retail Intelligence tools combine the technology hardware (readers of traffic,
people counters,
motion sensors) with
management software used for data access tools and provide reports, analysis, views and alerts to users.
Tools
Retail Intelligence includes the following tools:
* External Traffic reader: sensor that allows external counting.
* In&Out traffic counter: sensors that count in&out traffic at points of sale, allowing to separate the inputs and outputs as well as gauging and measuring the average time of stay.
* Motion sensors: sensors that enable the flow behavior of customers, distinguishing the hottest areas from the least visited at each point of sale.
Access to information is done interactively, via
intranet
An intranet is a computer network for sharing information, easier communication, collaboration tools, operational systems, and other computing services within an organization, usually to the exclusion of access by outsiders. The term is used in ...
and through tiered access, providing reporting, analysis, views and alerts to users.
References
{{reflist
* Medina Soto, Jorge Alfredo (2005)
Business Intelligence: conceptos y actualidad* Jay Lindquist and Joseph Sirgy (2008), Shopper, Buyer, And Consumer Behavior: Theory, Marketing Applications, And Public Policy
* Distribución Actualidad (2010)
Business intelligence terms