Smart Retail is the need of an hour & to establish a Retail Data Platform as a Service (RDPaaS) is our idea. RDPaas will comprise of robust cloud, predictive algorithms for AI, Apps, Sensors & RPA to deliver an amazing shopping experience to shoppers in malls, ships, airports & more. Our vision is to transform offline retail into smart retail to deliver digitally rich experience to shoppers of today.
Abstract
A Machine Learning driven intelligent system and method for interpreting consumer behavior of a user in a community shopping place. The user shopping behavior data is captured through a unique identifier or a proprietary device respecting the privacy norms. The behavior data is analyzed through the proprietary algorithms to increase shopping experience for customers by sharing highly customized recommendations specific to the consumer & business.
Novelty
The novelty of the product lies in the usage of multimodal data (video, audio, Mac-id and image) acquired during consumer shopping behavior measurement. This enables a proprietary algorithm to build a customized shopping recommendation model. The algorithm will be embedded in a web application and mobile application for making recommendations.
Objective
Data based decision making for customer segmentation, retail layout, inventory and pricing optimization. The product objective is to engage customers and second, to drive repeat visits to its site.
Data Used
Both Structured data and Unstructured data is used in the Algorithm design. Structured data is the use of consumer spend patterns, shelf time spent, promotional offers consumed and so on. Unstructured data refers to image, video and shopping patterns gathered from consumer movement in inter and/or intra mall locations.
Regards
Yogesh Huja, MD
