The internet penetration is on the rise and so are new technologies. Image analytics provides a myriad of a vantage point to a regular view in 2 dimensions. It possesses possibilities and viewpoints that seem impossible for the human eye in real-time. Image Analytics is emerging as a proven technique for brand protection and detecting trademark infringements. However, a lot can be achieved by deploying the same techniques in understanding the brand salience in a retail outlet.
The ambience of the retail outlet enhances the shopping experience of the consumer. However, the basic hygiene and order followed by the retailer in maintaining an appealing stacking order of the shopping racks goes a long way in making or breaking a purchase.
Image analytics in retail is driven by 4 primary factors:
- The need for continuous monitoring of inventory
- Share of shelf space for a brand
- The presence and relevance of competition.
- Evaluation of compliance by the retailer for a brand.
Over the course of upcoming new articles, we will be tracking these 4 factors in detail with examples and content explaining how technology enables quicker and actionable insights to the brand owner.
Modern methods in data collection reduces the time and cost of gathering data as images and simplifies the process of analyzing them. All you need is a nicely clicked picture and voila you get the results real-time.
With the growth in cloud technology brand owners can now access image analytics solutions without committing to huge investment in building IT infrastructure. Current image analytics solutions are scalable in billions and with quick and most accurate results.
The accuracy of AI
Computer Vision and deep learning have grown exponentially in terms of their capability in processing visual data. The accuracy in the insights produced by machines has surpassed human capabilities. The consistent higher accuracy of data naturally lends itself to a greater trust level on data thereby results for enabling actions. In the current business scenario, managers taking decisions based on real time analysis of information processed by machines can win markets.
With enhanced possibilities in analytics, exploring the option to go for image analytics makes a lot of sense. AI has made it possible to convert a regular image into a kaleidoscope of information. The benefits that one draws outweighs the cost of buying image analytics solutions any day. After all, thinking out of the box becomes possible when one looks out of the box.