With its new AI based, computer vision and machine learning powered product called “VisitorMetrix”, Capillary Technologies has become the recent company to vouch by the power of artificial intelligence.
As the name suggests, the new product by Capillary, is a perfect product for retail stores to maintain a visitor count and analyse customer behaviour in the shop floor. The company believes that this would help in drastically improving the store efficiencies, conversions and campaign effectiveness.
How would it work?
The newly launched AI product has been trained by feeding over three million images to it, so that it could identify between human and non human objects. It was also trained to identify whether a person is walking in group or as an individual. With an accuracy of 95 percent, it aims to achieve an increased efficiency as it encounters more images in future.
How would it help?
Providing a valuable insight through its real time dashboard and trend analysis engine, VisitorMetrix is aiming to help brands, shopping malls and stores better understand its visitors and hence offer better services. It would help immensely in understanding the ‘power hours’ of the stores, thereby letting them have a more efficient deployment of staff.
The company believes that based on the trends and frequency of visitors, brands and stores can more efficiently allocate the manpower resources according to the specific demands.
Who have deployed it?
Few of the iconic lifestyle brands such as Lee, Wrangler have deployed VisitorMetrix across six cities and have been signed up by others to be rolled out across 70% of stores in India.
Ganesh Lakshminarayanan, COO, Capillary Technologies, was reportedly quoted as saying that Capillary’s VisitorMetrix is built to apply cutting-edge technology to optimize retail. “It not only enables brands to analyze historical store traffic patterns to determine staffing requirements, but can also give immediate responsive data to changes, including studying the impact of promotional campaigns”, he added.
The company also believes that the benefits of VisitorMetrix extends in analysing the layout effectiveness of shopping malls. This may help them to improve the feet productivity, hence creating the right ecosystem for both brands and consumers for a great retail experience.
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Srishti currently works as Associate Editor at Analytics India Magazine. When not covering the analytics news, editing and writing articles, she could be found reading or capturing thoughts into pictures.