Last week (24th, 25th September 2019) we were privileged to demonstrate our wide range of Artificial Intelligence (AI)-driven Analytics and RFID solutions to some of the top Indian retailers at the India Retail Forum (IRF), 2019 event at Hotel Sahara Star, Mumbai.
During our various interactions, we were inundated with a diverse set of questions on our retail solutions and while we tried our best to answer as many questions as possible, the paucity of time did not allow us to answer all the questions.
Here’s our humble attempt to answer some of the Frequently Asked Questions (FAQs) at this year’s IRF. Let’s begin with 8 FAQs that retailers asked about our AI-driven Analytics solutions:
Q1. How do Thinkpoint’s AI-driven Analytics solutions exactly help retailers?
Ans. Our advanced AI-driven Analytics solutions help retailers by providing deep customer insights that were not available earlier. Actionable insights such as shoppers’ unique footfall count along with their age, gender, emotion and dwell time help retailers understand their customers’ shopping behaviour and develop in-store strategies accordingly.
Q2. What all does Thinkpoint’s bouquet of AI-driven Analytics solutions include?
Ans. At present, we offer 5 state-of-the-art AI-driven Analytics solutions:
- Facial Detection Analytics – for accurate identification of walk-in customers’ demographic profile (gender and age), emotion (6 unique types of sentiments) and location-based dwell time i.e. the exact time spent in individual sections of the store.
- Heat Map Analytics – for accurate identification of the most and least frequented locations inside a store.
- Traffic Count Analytics – for an accurate count of a store’s walk-in customers along with their demographic profile (gender and age).
- PoS Analytics – for accurate identification of customer demographics along with their shopping behaviour at Point Of Sale (PoS) locations.
- OOH Analytics – for accurate analysis of an Outdoor Site’s (Hoarding’s) effectiveness.
Q3. What are the infrastructure requirements for implementing Thinkpoint’s AI-driven Analytics solutions at retail stores?
Ans. Each of our AI-driven Analytics solutions comes with its own set of specialized Smart Cameras that are integrated at the backend with an advanced AI Engine. These cameras seamlessly operate on Power Over Ethernet (PoE) and are completely independent of the stores’ existing CCTV Cameras. Essentially, the only infrastructure support that our solutions need is a reliable power and Internet connection.
Q4. How do these AI-driven Analytics solutions work at the store level?
Ans. Deploying our AI-driven Analytics solutions in retail stores is easy and fast. After understanding the exact business objective, our team analyzes the store’s floor layout and recommends the exact number of Smart Cameras (along with their ideal locations) that are required at the store. The Smart Cameras are then installed and configured to the store’s existing Internet network.
The Smart Cameras then start instantly capturing shoppers’ data and uploads it instantaneously on Thinkpoint’s AI Server. The AI Server then analyzes the data in real-time and publishes the analysis to Thinkpoint’s cloud-based dashboard that can be easily accessed by retailers through their unique login credentials. To adhere to the various regulatory guidelines on data privacy, no Personally Identifiable Information (PII) is recorded/saved on Thinkpoint’s Servers.
Q5. How can retailers access the analytics data?
Ans. Access to real-time analytics is very easy. Just login to our cloud-based analytics dashboard with your unique username and password to view/download the data anytime, anywhere. For ease of use, the data is visually represented in charts and graphs that can be quickly downloaded as MS-Excel Sheets. Further, for deeper insights, our analytics dashboard makes it easy for retailers to sort the data on an hourly, daily, weekly, monthly or yearly basis.
Q6. What is the data accuracy rate?
Ans. At present, our solutions offer an industry-best data accuracy rate of 90-95% and we are constantly striving hard to increase this benchmark.
Q7. How much do Thinkpoint’s AI-driven Analytics solutions cost?
Ans. The cost varies from store to store and solution to solution. Usually, we work out a reasonable project-based costing that includes a one-time hardware cost of the Smart Cameras (including the AI Engine’s license cost) + nominal Annual AMC charges.
Q8. What is the average store size required for installing Thinkpoint’s AI-driven Analytics solutions?
Ans. Our solutions are very flexible and can be easily installed at stores of any size.
The above 8 were some of the most common questions on our AI-driven Analytics solutions that were asked at this year’s IRF. In the next blog post, we will cover some FAQs on our RFID solutions. In the meantime, please feel free to get in touch with us on sales@thinkpointbrands.in if you have any questions on our AI-driven Analytics solutions.
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Regards
Team Thinkpoint.
ThinkPoint 