Trackometrix: Real - Time Consumer Behavior and Analytics Using Face Recognition & CCTV Cameras
Ravnish Dhaneshwar, Director
Continuous innovation and deployment of latest technologies in the fintech and retail sector have now made feasible for businesses to increase their productivity and scale existing infrastructure to the maximum and lead the path to digital Transformation. The fintech and retail sector seeks to access branch information on daily basis. Tracking of consumer’s behavior and analytics to evaluate operational efficiency loyalty, uniqueness, footfall to conversion and offline to online convergence is among the priorities of brands. It is estimated that by 2025, the integrated effort will be the norm. Instead of planning and executing by channel, fintechs and retailers will support a consistent brand experience by viewing consumer touch points in real-time. Retailers store a large amount
of data in silos but due to technological constraints, they cannot utilize the granular level information with the potential to transform the traditional decision making process. Brands spend millions on 3rd parties to tell them about their consumers, where as all they need to do is look inward and by utilizing existing infrastructure to Identify, Remember, Connect and Keep consumers.
Trackometrics capitalizes on this expanse by empowering retailers with real-time information in a holistic way irrespective of their geographic location. Elaborating on the mechanism of this Saas based retail technology, Ravnish Dhaneshwar, Director, Trackometrix, says, “The data captured in an unobtrusive manner using face recognition and CCTV cameras connected to the cloud enables retailers to accurately predict and anticipate customer trends and demands in a cognitive manner. The information ingested from video provides brands witha centralized repository on their customer’s and granular insights on age, gender, time, date of
visits, unique Vs. repeat visitors etc. This saves brand’s effort, money and builds an effective roadmap to retain consumers while providing them real value in transacting with them.”
With the continuous transformation in customer’s lifestyle and adoption of technology, old techniques of retailers are failing. Effective data gathering at branch level on daily basis is not viable. Trackometrix is perfect to understand consumer patterns like Cyclicality, Seasonality, Purchase Patterns, and Emotionality. Trackometrix is highly invested in the cloud because it eradicates heavy hardware investments. It can onboard and scale for any client irrespective of their geographical region.“All brands have invested in CCTV cameras and internet; we leverage the existing infrastructure such that Trackometrix is a plug and play solution. In a manner to speak Trackometrix is like Google Analytics for Physical Branches across various geographical regions,” adds Dhaneshwar.
Trackometrix is currently part of OPTLAB Budapest as part of the program run by Nestholma, Finland. In the coming years Trackometrix envisions expanding its services to address the needs of fintech and retail professionals not only in terms of consumer behavior but also by tracking purchase behavior and including blockchain to advance its service offering to consumers. It is making a roadmap to optimize operational efficiency of retail businesses by integrating the supply chain with smart shelves and physical AI infrastructure that will communicate with consumers.
The data captured in an unobtrusive manner using face recognition and CCTV cameras connected to the cloud enables retailers to accurately predict and anticipate customer trends and demands in a cognitive manner
With the continuous transformation in customer’s lifestyle and adoption of technology, old techniques of retailers are failing. Effective data gathering at branch level on daily basis is not viable. Trackometrix is perfect to understand consumer patterns like Cyclicality, Seasonality, Purchase Patterns, and Emotionality. Trackometrix is highly invested in the cloud because it eradicates heavy hardware investments. It can onboard and scale for any client irrespective of their geographical region.“All brands have invested in CCTV cameras and internet; we leverage the existing infrastructure such that Trackometrix is a plug and play solution. In a manner to speak Trackometrix is like Google Analytics for Physical Branches across various geographical regions,” adds Dhaneshwar.
Trackometrix is currently part of OPTLAB Budapest as part of the program run by Nestholma, Finland. In the coming years Trackometrix envisions expanding its services to address the needs of fintech and retail professionals not only in terms of consumer behavior but also by tracking purchase behavior and including blockchain to advance its service offering to consumers. It is making a roadmap to optimize operational efficiency of retail businesses by integrating the supply chain with smart shelves and physical AI infrastructure that will communicate with consumers.
