Smart Retail
Powering Smart Retail Solutions with Open IoT Edge Computing
Innovative smart retail solution through real-time sensor fusion
The Internet of Things (IoT) is already having a significant impact on the smart retail industry and is providing tangible benefits for both consumers and retailers. Customers are receiving better in-store shopping experiences while retailers can differentiate with increased efficiencies that directly impact the bottom line.
The IoT allows retailers to instantly gather useful information during the customer purchasing period
and unlock the power of insights within their businesses to scale better and address market
challenges.
The more recent introduction of edge computing – that is the concept of performing edge data processing and analytics as close to the physical edge devices as possible is enabling even more innovative smart retail solutions.
Smart Retail
Operational Benefits
When applied to the smart retail sector, edge computing ensures that information processing, content collection, and data delivery are placed as near to customers and store operations as possible. Smart Retail use cases can benefit from:
- People counting
- Predictive maintenance and environmental control
- Intelligent loss prevention
- Inventory and Supply chain optimization
- Power consumption monitoring and energy reduction
- Reduces integration costs and time
Customer Quote...
“Intel works with the retail ecosystem to deliver integrated, AI-powered solutions that solve real problems”
Intel
Technical Challenges
“Intel works with the retail ecosystem to deliver integrated, AI-powered solutions that solve real problems”
- Create a flexible open, vendor-neutral edge solution that enables interoperability between OT and IT retail systems
- Simplify the connection and management of different data sources (e.g. camera devices, RFID scanners, barcode readers, digital signage) and applications in a retail environment
- Reduces integration costs and time to market for new IoT solutions and products
- Enable device and sensor data to be ingested, normalized, aggregated, processed, analyzed, and results acted upon in near real-time
- Support a range of retail-focused use cases including people counting, line estimation, shift management, stock control, and point-of-sales
- Have an extensible platform and multi-application provisioning allowing a system to easily evolve as additional retail capabilities are deployed
Professional Services
Key Benefits of IOTech's Retail Software Solution:
Our edge platform for smart retail provides the following key functions:
- Homogeneity - Edge computing allows for the leveraging and integration of new technologies and smart IoT devices such as interactive displays, scanners, IP cameras, RFID systems, and more.
- Interoperability - IOTech’s Edge Xpert platform is a key enabler for smart retail, providing an open framework that enables interoperability between heterogeneous IoT devices and applications at the edge.
- Future-proofing - Edge Xpert provides a futureproof and vendor-neutral open platform that helps prevent lock-in to specific technology choices, significantly reducing integration costs and time to market for new IoT-enabled retail solutions
Customer Example: Intel Use Case – Open Retail Initiative
Challenge: How to reduce stock loss and fraud at self-checkout facilities across stores by collecting and analysing data from multiple technologies.
Solution: Edge Xpert platform is a key enabler for smart retail, providing an open framework that enables interoperability between multiple retail devices at a self-checkout including scanners, scales, and security cameras. Edge Xpert provides a future-proof and vendor-neutral open platform that
helps prevent lock-in to specific technology choices, significantly reducing integration costs and time to market for new IoT-enabled retail solutions.
Benefits:
Increased revenues through lower fraudulent stock loss and better ROI of existing technology investments.
