Alexei Agratchev, CEO and Co-FounderIn the current context of mass-consumerism, in-store analytics platform plays a vital role in shaping behavioral attributes of both retailers as well as the customers. This platform facilitates retailers to utilize software to help them comprehend consumer behavior so as to better satisfy their customers’ needs. RetailNext’s powerful business intelligence platform surfaces in this context to deliver real-time and efficient analytic services for retailers. “Our platform empowers retailers and manufacturers to collect, analyze and visualize in-store data to provide a multitude of business-paced applications,” says Alexei Agratchev, CEO, RetailNext.
Agratchev observes, “However, dubiousness pertaining to required knowledge for consolidating data from siloed systems and offering it a granular view adds to the exigency of the space.” Moreover, analytics to provide meaningful insights is also a primeval factor for this space. RetailNext alleviates these challenges in a four-folded approach which comprises of collection, analysis, visualization, and providing meaningful insights of data. In the collection phase, consumer-related data is captured from all kinds of devices even including WMS. Thereafter, the aggregated data is made scalable for any enterprise and deployed via cloud or on-premise in real time, in the analysis phase. To make this data presentable, in the visualization phase various tools like Web Dashboard, mobile applications, and APIs are used which in turn also improves the customer experience. The final step is to yield deeper insights on shopper behavior and retail operations to boost the sales productivity and optimize staffing to achieve industry-leading accuracy.
Our platform empowers retailers and manufacturers to collect, analyze and visualize in-store data to provide a multitude of business-paced applications
Furthermore, the platform also features state-of-the-art video analytics and other Wi-Fi detection methods which ties in all sorts of retail data sources into one platform. As a result, it makes easier for the customers to measure and report on true omni-channel KPIs.
On a customer engagement, RetailNext extended its platform to a National department store to help them assess their sales in advance before they actually launched a full line of products. RetailNext set up a label-specific shop in a highly trafficked area to gather precise performance metrics. The store rapidly obtained favorable conversion statistics and used the comprehensive reports to successfully launch the products.
RetailNext has not only shaped the world of business intelligence but re-defined in-store analytics platform as a whole, helping businesses and retailers globally. Their future plans include facilitating shoppers to completely customize their shopping experience. This also implicates that retailers will be able to conveniently identify the specific needs of their customers without having to do much.