21 May 2010

New Groundbreaking Business Intelligence from RETEL Technologies

On their FACEBOOK page RETEL Technologies, when describing itself says it develops advanced software that integrates with existing surveillance cameras to deliver never-before-available insights about the real world, and the people and things in and around it.
RETEL Technologies, Inc., an advanced retail data firm, announced the release of its groundbreaking ReView In-Store Insight Suite recently.  With the introduction of ReView, bricks and mortar retailers now have access to a system that gives them instant and constant insight to shopper behavior at a level of cost and ease never before available. 
ReView combines easy-to-deploy tracking systems, proprietary analytics software, a visual reporting suite and available value-added consulting services to draw deep insights from consumer behavior in bricks and mortar retail environments.
A recent Deloitte survey showed that over 60% of all manufacturers and retailers now rate shopper marketing as a significant marketing function within their organizations -- yet fully 70% of them also believe that limited, expensive access to in-store data collection and analysis is one of the biggest factors limiting the growth of these programs. 
"Until now, most retailers could only measure ongoing consumer response through sales data from their registers or point-of-sale systems. While this data provides a great indicator of performance, it ignores the massive shopper insights to be gained between the front door of the store and the register," said Adam Rodnitzky, RETEL's Chief Marketing Officer. "By deploying our ReView suite, retailers and manufacturers of any size can efficiently and cost-effectively gain instant, ongoing insight to how consumers interact with store layout, merchandise, marketing and more…not just what those consumers ultimately buy." 
Compared to other methods to measure in-store behavior such as personnel-based audits and temporary video-tracking studies, the ReView system uses a highly-scalable, technology-based foundation to continually capture consumer behavior. According to RETEL's CEO George Aspland, "What we've found in speaking with a number of retailers and manufacturers is that they have been limited in their ability to capture information from within the store. Existing methods only let them survey a small sample of shoppers during a limited time frame. What we do lets them take a real census -- that is, tracking every shopper for every minute they are open for as long as they want." 
The ReView suite is designed to capture consumer behavior that provides actionable insights on merchandising, operations, marketing and store layouts. Metrics measured include shopper conversion rates; category correlations; popular consumer paths through stores; staff to customer ratios and checkout queue lengths; absolute measurement of in-store media impressions; incremental traffic from out-of-store media; and a number of other metrics. ReView can also display compelling visual data to assist retail management in making rapid assessment of their stores' productivity. Visual data includes heat maps of consumer behavior in retail environments, planogram compliance, as well as real-time snapshots of customer paths and activity in stores. 
ReTel is currently in talks with a number of retailers, CPG manufacturers and retail consultants to initiate pilot tests of its system in a variety of retail formats. The company is seeking additional pilot partners to broaden results from the first set of ReView deployments. 

I am very excited about how this technology can be used.  I see many other applications, especially with compliance issues within the enterprise.  Any operational, HR or asset protection policy or procedure that needs audit enforcement and verification can be met head on with this technology go to http://www.reteltechnologies.com for more information or drop me a note and I will arrange a demonstration or trial for your organization. 

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