The future of retail space lies in the Internet of Things. Now is the time to consider what IoT Excellence can do for your business in the Age of Artificial Intelligence.
The Internet of Things (IoT) is growing all the time, continuously providing new options for using artificial intelligence (AI) to help you better understand customers’ behavior and grow sales. Experts forecast that globally up to 30 billion devices will be networked by 2020, rising to as many as 75 billion by 2025.
Clearly, careful planning is required in order to use the IoT to your company’s advantage.
As devices become increasingly smart and versatile, security cameras that previously supplied raw video data are now also able to analyze that data. This enables you to tailor your product ranges and merchandise management to the changing needs of your customers in each and every store.
Imagine being able to recognize and steer movement, trends or footfall patterns, so that you can place your product ranges where your customers will be; or tempt new customers to areas they had previously overlooked. In addition, the data from your security system can help you optimize merchandise management to support growing sales and reduce operating costs.
However, in our opinion, IoT thinking is still too one-dimensional in the retail sector. Our aim is to introduce you to the technology that enables your company to outpace competitors with the help of the IoT, while ensuring that the implementation of solutions is as simple, cost-effective and flexible as possible.
The key to success lies in the optimal synergy between end devices, platforms and software applications (apps) in the IoT – what we refer to as IoT Excellence.
A global industry standard
As the IoT rapidly evolves, devices, platforms and apps must evolve with it. Ahead of the launch of our platform, which will establish a global industry standard, our white paper for retailers explains what to look out for when selecting and integrating IoT technologies.
So how exactly do you upgrade retail security technology to IoT Excellence – the optimal synergy between end devices, platforms and apps – while maintaining end-to-end security?
In terms of devices, remember that, in the IoT, your security cameras are far more than just security tools. To get the best out of your IoT data, they require high processing power, flexible app management and secure data processing.
Our new industry-standard open operating system (OS) for these cameras will then be able to boost your business and unleash innovation. Data will be analyzed in real time, providing anonymized results. Thus IoT Excellence will allow you to enhance your market space.
IoT platforms are the link between networked devices and systems that store, process and analyze data. A high level of connectivity should make it possible to process and exchange data both on the platform and directly in the networked cameras by means of edge functions. Accordingly, our revolutionary open IoT platform for security cameras will make the seamless management of networked cameras part and parcel of IoT Excellence.
Quality apps should be easy to install and update via an app store similar to those for smartphones. This will simplify the testing process and minimize risk. Operating systems should be based on common systems, such as Android, and allow multiple apps to be used in parallel on a single device.
The Security and Safety Things platform will support you in achieving IoT Excellence by providing access to a new generation of in-camera AI-based apps and other innovative solutions.
In order to protect IoT systems against attacks and manipulation by third parties, end-to-end security is an absolute must. Apps have to be sourced from developers who meet high security standards for processing and exchanging data. Security and Safety Things' platform will strike a balance between innovation and security, this being an essential aspect of IoT Excellence.
Prepare for IoT Excellence to shape your retail space
The IoT will continue to disrupt retail. We recommend taking an incremental approach to remaining on the right side of this disruption. Planning and implementing your projects in small, predictable stages is therefore crucial to achieving IoT Excellence ‒ especially if you are new to using the IoT with security cameras.
Explore in greater depth how the IoT can secure above average results in your retail business.
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