Tag Archives: IOT

How the Internet of Things is changing the face of retail

By: Ali Newton

This article was originally published on SmallBusiness.co.uk

There hasn’t been an advancement in retail as drastic as the
IoT revolution since the Industrial Revolution. The Internet of Things (IoT) is
the idea that everyday objects can be connected in the same way that computers
are today. And, with consumer adoption of IoT devices on the rise, now is the
perfect time for retailers to get informed and capitalize on the IoT.
Whether it is to improve their overall customer experience,
or to create new revenue streams, the IoT truly is changing the face of retail.
Here are three ways the IoT could be integrated into every aspect of retail ‘
from store displays, to storage equipment, to the shop floor.
1. Smart shelves
Panasonic is currently developing a product called the Powershelf. These shelves
have built-in sensor technology that keeps track of inventory in real-time,
saving businesses thousands of pounds in paid hours that they could reinvest elsewhere.
However, Powershelves also have the potential to be
extremely useful on shop floors, as they can collect data about shoppers based
on the products that they have chosen. In addition, these shelves give
customers real-time prices that are based on demand. The shelf labels are
wireless and can update prices based on the quantities that are left. The
shelves can also detect when the products are about to go out of date, and
alter the price according to this information too.
Jobs like stock counting, market research and stock
replenishment can take human workers hours. Alternatively, they could be
automatically performed by Powershelves talking to each other via the IoT.
2. In-store beacon tech

In-store beacons were set to become very popular for a
while, but they haven’t quite caught on as previously anticipated. Beacons rely
on customers coming within proximity of a shop, at which point they can be sent
a message or an email to encourage them to come into the store ‘ provided that
the shop already has their contact details.
Still, it’s a solid idea in principle. A ’10 per cent
offer when you buy today’ push notification could be sent to the consumers’
mobiles as an incentive to lure them into a shop if they’re nearby.
The issue with beacon technology is that it relies on Bluetooth,
which many consumers don’t have switched on as it is known to drain battery
power. In addition, customers usually need to have the brand’s app downloaded
too. This places several obstacles in the way of the retailer before it can
contact the customer directly.
Despite these obstacles, many brands are using proximity marketing to help drive their retail sales.
3. Smart shopping carts and cashless stores
IoT is a powerful tool for brick and mortar shops to compete
with eCommerce stores that are taking over the retail world. Walmart recently
began to develop shopping carts that can drive themselves to help customers
find their way around its shops. It is also working on a technology that allows
customers to order online and get their shopping delivered by a driverless cart
directly to their car, or Uber, in the car park.
Similarly, Amazon’s Seattle shop has no checkouts. Customers
simply enter the shop, pick up the items they need off the store display, and
leave. Sensors around the shop record the items that customers pick up,
removing the need for them to check out.
Whether or not any of these ideas will become an integral
part of retail’s future remains to be seen. Predicting the future is always
difficult and businesses and individuals are right to be skeptical of anyone
telling them that the future is going to be radically different because of the
IoT.

However, just because people should be skeptical about the
idea that the IoT may change retail entirely, it doesn’t mean that they should
write the idea off altogether. One IoT development is unlikely to change retail
on its own, but as more of these technologies enter the market and they become
more affordable, a greater impact will begin to be seen throughout retail.

How GE is Building the Digital Industrial World with Data Science

Beena Ammanath

Beena Ammanath is Executive Director, Data Science at GE. She’s also a keynote presenter at the Marketing Analytics & Data Science Conference on June 8-10, 2016 in San Francisco, California.

As a preview to her presentation ‘Industrial Internet: Building the Digital Industrial World with Data Science,” Beena shared how GE is leading the Industrial Internet.


Peggy L. Bieniek, ABC: How is GE helping to shape the future of the Industrial Internet?
Beena Ammanath: The Industrial Internet presents incredible opportunities to connect the world of really important things, and ongoing digital transformation is changing all industries. With 50 billion machines expected to come online by 2020, the Industrial Internet’s impact on GE, our customers and the world is tremendous.
In leading the Industrial Internet, GE has transformed its business by building and deploying Predix, an Industrial IoT platform and opening the platform to non-GE assets. Predix ‘ the world’s first and only cloud platform built exclusively for industry ‘ is the foundation for our Industrial Internet offerings. It offers the strength, scale and security for industrial customers to use with industrial data.
We are actively deploying Predix across our business, IT, and manufacturing operations. We’re also working with many customers to use Predix to secure and monitor the approximately $1 trillion GE industrial assets deployed worldwide.

PB: What were some of the benefits GE realized from the Industrial Internet implementation?
BA: Big data and data analytics have brought about a radical change in how our operations do business. We utilize sensors and data processing in our machines to enable predictive maintenance and repair breakdowns even before they occur.
We’ve already seen a reduction of 10-20% in unplanned downtime in our own factories, as well as improved cycle time, improved customer service and reduced costs in the facility.

PB: What makes GE’s Industrial Internet offerings unique?
BA: Unlike general-purpose platforms, Predix is optimized to support industrial use cases.
Other platforms and companies lack GE’s deep domain knowledge of assets to enable anything more than general predictive analytics.
Predix was designed specifically to handle the velocity, variety and volume of industrial data from millions of machines, where other platforms remain focused on enterprise data.
Only Predix delivers the end-to-end security that satisfies strict data governance, privacy and integrity requirements ‘ that support over 60 regulatory frameworks worldwide. Other platforms are slow and costly. Predix offers developers the tools to automate the ‘coding to deployment’ cycle, where they may spend up to 80% of their development time integrating with other systems.

PB: What will people gain from attending your keynote at the Data Science conference?
BA: Attendees will gain a clear understanding of the Industrial Internet, the characteristics of Industrial Big Data and the kind of business outcomes we can achieve in the Industrial space leveraging Data Science.

Want to hear more from Beena Ammanath? Join us at the Marketing Analytics & Data Science Conference. Learn, network and share best practices with the most influential leaders in data science and analytics. Stay connected at #MADSCONF.

Brilliance@Work profile originally published on www.starrybluebrilliance.com


Peggy L. Bieniek, ABC is an Accredited Business Communicator specializing in corporate communication best practices. 

Connect with Peggy on LinkedInTwitterGoogle+, and on her website at www.starrybluebrilliance.com

Exclusive Interview: How Technology is ‘Perfecting’ Market Research

From the collection of data to the curation of insights,
technology is disrupting market research at
every turn. And, it’s new technologies that are driving this significant
change. Traditional research just isn’t enough anymore. Brand new ways of working
including are requiring that look at research through a different lens. They
are enabling us to gather insights in new and exciting ways, but also
inundating us with myriad sources of data about users that needs to be
synthesized.
Fortunately, this year the producers of The Market
Research Event present InsighTech:
Innovations in Research Methodology & Technology
– an event that covers
innovative new ways to deploy mainstream methodologies and presents emerging
technology likely to disrupt the industry even further. We recently sat down
with our InsighTech keynote speaker Keith Ferrazzi, CEO, Ferrazzi Greenlight to
discuss how technology is disrupting market research.

Here’s what Keith had to say:
IIR: How is
technology disrupting and transforming market research?
Ferrazzi: Technology
isn’t disrupting market research, it is perfecting it! What once was
survey-based and qualified by outcomes can now be measured in real time. With
the advent of digital platforms, we are learning how people behave in
an unprecedented manner. This means we now can figure out what images or
content actually is working because of click-through and time spent on site, as
well as which function of a company’s intranet is providing the most value-based
on engagement rates. With this data we can easily tweak one variable at a time
and see what the results are. 
We are only just beginning to see
the possibility of technology and understanding how people interact
with the market, but with the inclusion of big data and digital behavior
mining, be prepared to see not only marketing but products more finely tuned to
our needs and desires.
IIR: How is
Ferrazzi Greenlight specifically disrupting market research?
Ferrazzi: One
thing we do is we use technology to identify top performers in companies so
that we can extract valuable information from them as a way to accrue
and curate best practices to train to the larger employee base. We’re
crowd-sourcing training to allow each organization we work with devise their
own best practices and train to them instead of walking in saying, “Here’s
what’s going to work for
you.” We may use technology to identity them,
but old-fashioned interviews are still the best way
to get at how your employees behaviors influence their day-to-day
activities. Sometimes you need both old school and new school techniques to be
successful.
IIR: How do you
sort through the current technology trends to uncover what will eventually
change how you do business?
Ferrazzi: I’m
lucky in that I have an in-house team developing technologies to help
in the corporate space, so I rely on them and their expertise to keep me
informed on new products and opportunities. I will never be able
to know everything about every line of corporate acceleration/market
research, but if I empower the right people and make it a priority that they
come to me with anything they uncover in their daily lives, I can be exposed to
enough to determine good trends and where I should research further for
opportunities.
IIR: In the
digital age, what is the new consumer angle at Ferrazzi Greenlight?
Ferrazzi: Same as
it’s always been, improved experience. What this means now, though, is
that we have an ability to hear the consumer through the entire buying cycle.
From social media chatter and sentiment analysis to analytics on their website
experience, we are able to see how the consumer interacts with a given
product/brand. 
IIR: How do you
harness the power of social, attitudinal, and behavioral data for deeper
consumer insights?
Ferrazzi: This
data is gold to any new CEO, sales lead, etc. At the end of the day, you need
this data to take your product from being guess work to targeted services
tailored to the needs of your consumers. But data will only take you so
far. This will always be iterative and a learning process. Just because
you see a demand for something doesn’t mean you will immediately discover the
execution that is desired. You need to find and trust your creativity to
express the solution to the data.
IIR: How is
gamification affecting market research?
Ferrazzi: Gamification
is a hot topic right now. The goal of gamification is to increase engagement
with a given product, app, or service. What that really is are incentives.
There are some very fascinating discoveries being made about the
value and implementation of incentives. You need to choose a rewards
model that works best for your given situation and it needs to be
unique. So if gamification, leaderboards, badges, etc. work to help your sales
team succeed, excellent! But perhaps the reward needs to be more emotional
in nature, the more they sell, the more gets donated to the charity of their
choice. Both of these “games” could help drive your business
outcomes, but it’s up to you to determine which works best.
IIR: How is
wearable technology affecting market research?
Ferrazzi: Wearable
technology is going to be a huge new market research opportunity, but I have
found that the vast majority of the data that these toys (Nike fuelbands,
 Jawbone Up, the FitBit) are only gathering very basic information limited
to the accelerometers weakness of only tracking certain kinds of activity.
You only get a small amount of data. In time though, that
data married to other data from other smart devices in your life will allow
market research to become unimaginably personalized. Just as a Nest home system
learns your patterns and behaviors to know when to
turn up or down the heat or turn on or off lights to suite your
needs, so too will marketers learn patterns in their audience and better
understand what drives or motivates it.
IIR: Where do you
see market research technology going in five years?
Ferrazzi: Five
years is a huge window to discuss. What I think is the biggest debate that will
shape the next five years is the nature of what data we deem should be
available to marketers from our interactions with technology. Some argue that
all of this should be protected and private. Other argue that if you
are using their platform, say a free Instagram account, you trade your personal
data for use of a fun photo sharing experience with friends. Depending upon
how public sentiment swings, what we learn from people and technology is
entirely too big and varied to conceive.
IIR: What is the
best innovation in market research that you have seen?
Ferrazzi: It
isn’t a single program, or application, but rather a creative mind that can
look at the data coming from a variety of sources and find the through line.
Data by itself is wonderful, but the amount of data we are beginning to receive
is overwhelming. It takes a clever human (not technology) to
sort through the sea of data to discover the truth behind it. We are not
beyond the point where human ingenuity and understanding should be
undervalued. Artificial intelligence will always need human intelligence
to guide it. So if you want the best market research, find yourself a
curious mind and give that person the tools to go explore. 
IIR: How does the
Internet of Things drive more meaningful consumer connections?
Ferrazzi: It’s
still a relatively new concept, but with all the “smart” options of everything
from TVs to refrigerators to even vacuum cleaners being introduced on a regular
basis, we’re no longer being dictated to by manufacturers. There’s a more fluid
relationship between consumer and producer.  This level of interaction
creates an almost dialogue and helps fine tune products to a changing base.
Want to hear more
from Ferrazzi? Don’t miss his keynote
presentation
entitled, ‘Research Drives the Intersection of Human
Relationships and Software in Groundbreaking New Platforms’ taking place on
Tuesday, May 5th at 9:30 am in San Francisco, CA.

About the Author:
Amanda Ciccatelli, Social Media Strategist of the Marketing Division at IIR USA, has a background in digital and
print journalism, covering a variety of topics in business strategy, marketing,
and technology. Amanda is the Editor at Large for several of IIR’s blogs
including Next Big DesignCustomers 1stDigital Impact, STEAM Accelerator and ProjectWorld and World Congress for Business
Analysts
, and a regular contributor to Front End of Innovation and The Market Research Event,.
She previously worked at Technology Marketing Corporation as a Web Editor where
she covered breaking news and feature stories in the technology industry. She
can be reached at aciccatelli@iirusa.com. Follow her at @AmandaCicc.

Is the Internet of Things the Future of Customer Experience?

Retailers are constantly looking for ways to improve their customer experience and the increasing move from the physical world to the online world means the Internet of Things (IoT) is becoming the future of customer experience. The IoT is a network of objects, products and services that are digitally interconnected and can communicate with each other without human interaction. Without sounding too utopian, it means that maybe in the near future your watch could soon communicate with your television which in turn could control how much water your vegetable garden gets. In essence it makes our lives a lot easier.
These advances in smart technology mean that everything we do can become more programmable and personalized, which is a huge benefit for retailers and customers alike. The IoT means that real time analytics will be able to give customers a better and often more efficient retail experience. For example, Internet technology such as Bluetooth beacons will be able to connect with smartphones as customers enter a store and check their movements. When compared to the customer’s purchases, it can help to create an idea of what the optimum layout for the store should be, which in turn will aid the retailer’s future revenue. In terms of customer aid, in one French clothing store Kl??pierre, there is an ‘inspiration corridor’ that means the customers can receive information and images of recommended clothes using a Microsoft Kinect body scanner. The clothes will come up on screen and they can pick and choose what they like and the whereabouts of the clothes are linked with their smartphones so they can easily be found. These in time analytics help to create an easier and more unique experience for the shopper and retailer.
Zebra Technologies have found that almost 96 percent of retail decision makers are prepared to implement the changes in order to utilize IoT technologies. It was found that 67 percent have already implemented IoTand 26 percent planning to use it within the year. More than half of the firms surveyed expect IoT to give them greater information about the condition and whereabouts of items which will lead to a better customer experience and new revenue streams. Already technology such as RFID has given benefits to retailers such as 99 percent inventory accuracy and a 2-7 percent sales increase. Research firm Gartner believes that by 2020 we will have 26 billion smart and connected products in use (around 3.3 devices per person, not including smartphones and tablets).  
However, there are drawbacks – Zebra Technologies found that 56 percent of the companies said integration challenges were a big problem to adopting the IoT and 47 percent were concerned about security and privacy. There may be a lot of people who would not like to have their likes and locations constantly tracked and analyzed.
The Internet of Things does seem to be the future for retail. This divergence of the physical and digital world means retailers will be increasingly providing a service as well as just a product. By providing a better service and improving the consumer’s experience will ultimately result in higher revenue and keep customers coming back.

About the Author: Harry Kempe, a marketing intern at IIR USA, who works on various aspects of the industry including social media, marketing analysis and media. He is a recent graduate of Newcastle University who previously worked for EMAP Ltd. and WGSN as a marketing assistant on events such as the World Architecture Festival, World Retail Congress and Global Fashion Awards. He can be reached at hkempe@IIRUSA.com.

4 Key Trends for 2015: From Consumer Insights Canada to TMRE 2014 via Trendhunter

For those of who may not know the lovely Shelby Walsh, she is President at TrendHunter and soaks up trends for breakfast, lunch and dinner. We had a chance to catch up with her and her team at the Front End of Innovation Toronto and Consumer Insights Canada event last week.

Here’s what she told us:

How did you find the experience at FEI Toronto & Consumer Insights Canada?

The experience at FEI Toronto was fantastic. The breadth of sessions everyone had to choose from was incredible — from the Internet of things, to the mind/body connection and authenticity. 


On top of the takeaways from all of the sessions, there was an impressive array of individuals in attendance, which made breakfast, lunch and networking breaks all of the more interesting. 

FEI Toronto - Consumer Insights Canada
Can you share the biggest takeaway from your Trendhunter partner and fiancee, Jeremy Gutsche’s talk? 
The biggest takeaway from Jeremy’s Better & Faster talk was that we need to focus on overcoming the psychological traps that are blocking successful people everywhere from realizing their potential. 

We need to awaken our “inner hunter” and instead of “farming,” creating only incremental change, we need to be open to destroying in order to create breakthrough innovation. 

Jeremy’s keynote was very personal and touched on drawing inspiration from his dad and how he proposed to you, as a social media strategist I know there can sometimes be a fine line between what you share and what you keep private. I understand the video he shared is up on YouTube, can you tell us a bit about the proposal, the video and sharing it online.
I personally never share anything that could put me in an unprofessional light or is negative about other individual or brands. Social media is supposed to be a great way for people to connect with others and a lot of times, celebrate the most interesting parts of our lives. 

I didn’t hesitate to share our engagement video to over 20,000 of our closest friends because the way Jeremy proposed was creative and very Trend Hunter-esque. It was an authentic expression of who we are and a touching moment that we wanted to share with others who’ve felt the same or hope to one day!
We had planned a field trip to tour your Trendhunter headquarters but received such an overwhelming response, we decided it made more sense to open it up to everyone and do a cocktail mixer instead. Can you tell us a bit about the research you shared during the tour and gives a bit of insight into how your office environment inspires your innovative culture?

Trend Hunter had a blast hosting a cocktail mixer for FEI! Our office space lends it well to the creative environment we have, as well as events like this! People loved our bar complete with Trend Hunter marquee lights, our London telephone booth and our open-concept, brick and beam space. 

It’s a great environment to let ideas flow!


The 4 key trends discussed during our Trends in 2015 presentation include

Beacon – This burgeoning technology has been utilized by those on the cutting edge in the art, retail and charity worlds. The next generation of these location-responsive devices will make communicating with consumers even more customized, interactive and ultimately, effective.

Makeshift Luxury – Retailers are turning to pop-up events that are super lavish. These temporary luxe shops and consumer experiences are the next evolution in brand marketing that’s more experimental and temporary.

Meta-Marketing – Millennials are approaching peak purchasing power, and marketers are keen to capture their attention by creating ads about ads that self-mock and have a focus on being authentic.

Flavor Reversal – Bacon beer cupcakes and avocado donuts are just a couple of examples of how sweet and savory are being experimented with creatively to create buzz and appeal.

FEI Toronto & Consumer Insights Canada 2014
FEI Toronto & Consumer Insights Canada 2014
FEI Toronto & Consumer Insights Canada 2014FEI Toronto & Consumer Insights Canada 2014


We’re looking forward to joining you, Jeremy, and the rest of the Trendhunter Team at The Market Research Event stateside in Boca Raton. Fl. Later this month. Can you give us a little preview into what we can expect? 

We work with brands creating custom monthly reports to help identify consumer needs and track emerging market trends. These reports are based off of a 100,000,000 person virtual focus group and over 2 billion views of data. For those attending TMRE, we’re offering some reports on the house, so make sure to find us at the event! 

Just as exciting, there has been a lot of talk recently about Oculus Rift — a platform that allows for one to experience augmented reality like never before and other cutting edge virtual reality applications that tap into 3D gaming, simulations, and rich immersive experiences. Now, I can’t give away what Trend Hunter will be doing, but I can tell you that it will be an experience you don’t want to miss out on

ABOUT THE AUTHOR

 

Valerie RussoFormerly a senior copy editor at Thomson Reuters, a research editor at AOL,  and a senior web publicist at Hachette Book GroupValerie M. Russo is editor at large of The Front End of Innovation BlogThe Market Research Event BlogThe World Future Trends Tumblr, the Digital Impact Blog, and also blogs at Literanista.net. She is the innovation lead and senior social media strategist for the Marketing and Business Strategy Division of the Institute for International Research, an Informa LLC., and her poetry was published in Regrets Only on sale at the MOMA Gift Shop. Her background is in Anthropology and English Literature. You can reach her at vrusso@iirusa.com or @Literanista.

10 Mobile Trends for 2014 and Beyond via JWT

“This fantastic report covers significant drivers and manifestations of these developments, and their implications for brands. ’10 Mobile Trends for 2014 and Beyond’ is based around on-the-ground research shared by JWT.”

Today ‘mobile’ connotes not only our phones and tablets but other connected devices like wearables and cars, and ‘smart’ objects and systems (aka the Internet of Things). Some of this tech is in its infancy, but it’s maturing quickly, as evidenced by the many connected cars and wearables debuting this year and heavy emphasis on the IoT.   

We’re hurtling toward a world steeped in and vastly impacted by mobile technology, with mobile driving fundamental changes in the business landscape and in consumer behaviors and expectations.   

Certainly consumers are spending ever more time with mobile screens. A Millward Brown study released in March reports that across 30 countries, people spend an average of 147 minutes a day using a smartphone, which now outranks the TV or laptop screen. And this figure may soon seem low, considering that phones are the only available route to the Internet for many of the newest mobile consumers. Already Facebook has more mobile-only than desktop-only users.   

As phones and many other connected devices become integrated into every part of our lives, the real and virtual worlds will get increasingly blurred. Marketers will need to transition from focusing on the mobile platform in and of itself to thinking holistically about how mobile affects and interacts with everything else.

The 10 Mobile Trends for 2014

1. Holistic connectivity is on the horizon
2. Wearables break out
3. Mobile is the prime screen
4. Mobile changes how we socialize
5. Shifting to visual
6. Outsourcing to the machine
7. Privacy and security fears change the game
8. Raging against the machine
9. Bringing mobile to many
10. Mobile disrupts everything

JWT: 10 Mobile Trends for 2014 and Beyond (May 2014) from JWTIntelligence

This is an abridged version of their in-depth 124-page report, visit them at JWTIntelligence.com/trendletters for full access.