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A new suite of analytical tools and services called ShopperPRO (Platform for Retail Optimization) has been released by VideoMining Corp., a provider of in-store behavior analytics.
The platform represents a new approach to in-store analytics that enables collaborative optimization of retail strategies based on ongoing collection of shopper behavior data. By extracting insights from store panels at key retailer partners, ShopperPRO builds on VideoMining's extensive in-store analytics experience and industry tracking programs that have delivered channel-specific insights for nearly a decade.
ShopperPRO is powered by VideoMining's recently-announced OmniSensr technology. The all-in-one hardware and software solution is optimized specifically for anonymous shopper tracking and generation of deep in-store behavior analytics. The new sensing platform integrates video, Wi-Fi and beacon technologies. It enables cost-effective deployment of the store panels that generate the core behavior data for ShopperPRO.
For the end user, ShopperPRO takes the form of powerful cloud-based tools enabling on-demand access to rich shopper behavior insights and the flexibility to track performance, learn more through further analysis, and test new concepts to gauge the responses of real shoppers. This suite of interactive tools creates a prescriptive analytics framework comprised of a range of application-specific modules.
ShopperPRO modules include:
- Total Store / Trip Optimization providing key insights needed to compete in the hyper-competitive retail environment
- Category Optimization which puts the shopper squarely at the center of all category management processes
- Brand Optimization delivering behavior-based measures of brand strength at the shelf and crucial understanding of shopper segments
- Display Optimization which provides a data-driven solution for rating in-store display locations and optimizing promotions.
"Our new analytics platform is the culmination of several years of R&D and collaboration with some of the best minds in retail and consumer goods," said Dr. Rajeev Sharma, founder/CEO of VideoMining. "We are very excited to take this next step in our mission to make in-store behavior a truly integral part of critical CPG and retailer business processes."
Jeff Hershey, EVP of strategy and development, said, "Our goal in developing ShopperPRO was to maximize the access and application of the incredibly valuable shopper behavior information we gather from our panel stores. This information is only as useful as one's ability to harness it to solve real-world problems. We focused on creating modules that mapped to specific functions from storewide trips to brand engagement at the shelf level. Add in the elements of ongoing data collection and the ability to activate learnings at a specific retailer, and you have a truly innovative, prescriptive approach to leveraging the power of in-store behavior."