IRVINE, CA--(Marketwired - Jan 8, 2014) - In-store analytics -- solutions to leverage Big Data in the retail store environment -- will be among latest and greatest technology innovations showcased next week as the retail elite gather at the National Retail Federation's 103rd Annual Convention and Expo -- Retail's Big Show in New York City, taking place Jan. 12-15. However many of these solutions will come with a steep price tag that many retailers -- challenged by a slow economy -- can ill afford.
Enter NexVisionIX, who will be introducing an innovative 60-day trial program aimed at breaking the cost barrier for in-store analytics packages. For only $3,000, NexVisionIX will provide a customized proof of concept for retailers demonstrating the power of this world-class in-store analytics offering integrated into retailers' systems.
Winner of an SAP Startup Focus Award in 2013 for most transformative solution with the highest potential to change an industry, NexVisionIX will be demonstrating its powerful Cloud-based in-store analytics solution at the show in the SAP Big Data Lounge (Hall 3A of the Javits Center, next to the SAP Big Data Bus).
"Retailers can now leverage NexVisionIX' in-store analytics to significantly improve store operations -- by optimizing product placements, enhancing promotions, and making better staffing decisions," said Rick Dutta, CEO of NexVisionIX. "We're debunking the myth that Big Data analytics is a massively expensive, complicated and laborious undertaking. With NexVisionIX, retailers can very easily layer these new capabilities on top of their existing systems and extract valuable insights through analysis of transaction data, path, foot traffic and dwell times."
Dutta says NexVisionIX' Cloud-based software as a service platform slashes time to market, and eases the implementation path, so retailers can be operational in mere weeks. This advanced proprietary technology provides retailers with valuable insights into all aspects of their business.
By offering the world's most technologically advanced and proven in-store analytics at an affordable price point, NexVisionIX hopes to put the power of Big Data in the hands of a greater number of retailers. Savvy retailers know that harnessing data to convert customer interactions to transactions is necessary to revitalize in-store sales that retailers say are threatened by increasingly empowered consumers, mobile proliferation and an ever-growing number of channels and choices.
NexVisionIX leverages a combination of RF authentication tracking, a video management platform, video analytics, advanced sensor and facial detection to merge transaction data with physical data gathered from in store shoppers. Predictive algorithms then help determine next best actions that are relevant to influence consumer behavior and affect Merchandising, Store Operations, CRM and eCommerce -- making insights actionable, in congress with downstream retail systems.
NexVisionIX' three different Cloud Analytics packages offer functionality to allow retailers to analyze zone level conversions and traffic trends to optimize conversion, labor and product placement; understand customer segmentation, demographics, and promotion and cross-sell effectiveness; and offer personalized promotions and product recommendations.
About NexVisionIX
NexVisionIX is the leader in Big Data In-Store Intelligence, enabling brick and mortar retailers to apply on line analytical techniques to in-store retail sales. We provide business intelligence analytics to enhance retailers' and brand companies' abilities to increase sales and overall performance. The NexVisionIX platform provides an "Amazon" experience for brick and mortar environments, providing applications to actualize retail Big Data into actionable GamePlans®.
Winner of an SAP Startup Focus Award in 2013 for most transformative solution with the highest potential to change an industry, NexVisionIX is headquartered in Irvine, Calif. Contact us at 714-665-6240, or visit us on the web at: www.nexvisionix.com