SOURCE: BVI Networks

BVI Networks

January 11, 2010 08:01 ET

BVI Networks Expands Analytics and Store Operations Capabilities for Its RetailNEXT In-Store Business Intelligence Platform

Enhanced Analytics and Additional Insights From Shopper Data Extends RetailNEXT Capabilities and Brings the Power of Online Analytics to the Store

SAN JOSE, CA--(Marketwire - January 11, 2010) - BVI Networks, provider of RetailNEXT, the advanced in-store business intelligence (BI) and decision support platform, today announced product enhancements aimed at improving store operations management, lowering operating expenses in the store, and providing in depth shopper insights for retailers and product manufacturers. New product features along with selected on-shelf technology integration bring new insights and capabilities to the already recognized leading in-store platform, RetailNEXT. Additional platform models and expanded video storage options deliver on the promise of making RetailNEXT the only in-store analytics and BI platform powerful and affordable enough to provide valuable insights from every store, everyday.

NEWS SUMMARY

Enhancements to RetailNEXT include:

--  Software integration with the RockTenn Merchandising Displays on-shelf
    availability technology to provide visibility and metrics for tracking out
    of stocks, replenishment, customer shelf activity and behavior. The BVI
    Networks partnership with RockTenn Merchandising Displays was also
    announced today. For more information go to
    http://www.bvinetworks.com/company_news.html
--  Support for internationalization
--  Advanced analytics for people counting at endcaps and aisles, leveraging
    video
--  Improved exporting of video clips for enterprise wide sharing of
    insights
--  Enhanced POS exception search, to allow for more detailed POS queries,
    pinpointing video for very specific combinations of transaction criteria
--  New data-to-map feature  overlays data on the store planogram for
    instant identification of hot zones and store performance
--  New models now available, providing options for front and back room
    store environments, varying video storage requirements and even more
    affordability for large enterprise roll outs as well as small businesses
    

BACKGROUND

The challenges facing retailer and product manufacturers today is to get it right the first time in the store. Getting the product, pricing, placement, packaging right means maximum adoption and sell-thru, resulting in increased loyalty, sales, brand and store performance. Collecting data on shopper behavior in the store environment has always been a priority for retailers and manufacturers -- and the costs associated with doing so have been significant. The old-school methods of observation studies, shop-alongs, consulting studies that use small samplings of stores and shoppers to extrapolate for entire chains or regions have been slow, limited, and expensive. The new paradigm is to enable in-store data collection in a non-invasive and ongoing way across all stores, all the time.

This is a critical change because retailers rarely have consistency in their stores or their shoppers and there are critical insights that can only be uncovered by looking at large sample sizes over long periods of time. Accomplishing this requires analytics to convert shopper behavior into data that can be quantified and combined with other in-store data such as POS, staffing plans, merchandise and promotion plans -- to create insights that are as dynamic as those found in the online environment.

RetailNEXT is designed to automate the majority of the data creation, collection, analysis and reporting -- there are no ongoing costs for retesting, re-evaluating or changing the entire store around and repeating the evaluations. This is the new way to operate and manage stores and RetailNEXT makes it affordable enough to be an operational part of every store.

MULTIMEDIA ELEMENTS

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About BVI Networks

BVI Networks offers the only in-store business intelligence solution proven to deliver clear, actionable information and measurable ROI across multiple store departments within weeks of installation. The open RetailNEXT platform provides real-time and near real-time customer metrics that let retailers dramatically improve store execution and customer satisfaction by optimizing staffing, merchandise placement, and in-store advertisements. RetailNEXT also enables brand manufacturers to make much better product and marketing decisions and truly measure ROI on advertising investments. The BVI Networks team includes former senior managers from Cisco, Motorola, IBM, Juniper, Novell and Intel, as well as retail professionals with extensive backgrounds in operations, merchandising and asset protection. BVI Networks is rapidly establishing partnerships with leading in-store solution providers and is quickly expanding its customer base. Early customers include major big box retail chains, grocery stores, hardware stores and specialty retailers. BVI Networks is headquartered in San Jose, Calif. For more information, please visit www.bvinetworks.com.

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Retail | POS | BVI | Video Monitoring | Business Intelligence | Analytics

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