New heart mapping feature set to enhance data analysis for offline retailers
By Retail4Growth Bureau | May 18, 2023
Staqu Technologies says that with their newly launched heat mapping feature, brick and mortar retailers can use richer video data insights for assessing sales conversion rates, store layout optimization, better inventory management and for identifying potential revenue generators, among other things.
Staqu Technologies, a leading artificial intelligence solutions provider, has unveiled a new heat mapping feature for their JARVIS platform, which according to the company will revolutionize video analytics. The heat mapping feature uses a real-time camera feed to track human movement and has a wide range of potential applications across various industries.
As the company points out, one industry that could greatly benefit from this technology is retail. The JARVIS heat mapping feature offers insightful data on customer behavior, demographics, consumer preference, and store layout optimization. In addition, it can also enhance inventory management, analyze sales and customer metrics, and identify potential revenue generators.
According to Atul Rai, founder, and CEO of Staqu Technologies, "Empowering offline players with the JARVIS heat mapping feature is a game-changer across industries, bringing them on par with their online counterparts. By providing comprehensive data analysis and insights, we can help businesses enhance their customer experience and create effective business strategies to achieve the best revenue growth for their business. At Staqu Technologies, we believe in tailoring to use the existing camera to use it deduce the insights which are helpful in revenue growth. With JARVIS heat mapping, we are revolutionizing the way businesses operate and grow, one insight at a time."
An illustrative example is a retail store with clearly defined sections for things like clothing, shirts, and trousers. In a conventional format, the store's owner might not be aware of how much time each customer spends in these areas. Additionally, the owner is unaware of the reasons why a particular section—perhaps a coat—is selling out so quickly while many customers are browsing another section, perhaps a shirt.
However, it is now possible to study consumer behavior and gather useful data thanks to the use of AI-powered video analytics with heat mapping technology, informs the company. The retailer may now alter the cost or the quality of its goods to better suit consumer preferences. Heat map analysis is a helpful tool for retailers, allowing them to track foot traffic in each section, gauge customer dwell time, and assess sales conversion rates.
Thumbnail Image Ccourtesy: https://www.freepik.com/search?format=search&page=3&query=video+analytics+in+retail