RetailNext Inc., a provider of big data solutions for retail, has announced new pinnacles in big data in the retail industry. The RetailNext in-store analytics platform is experiencing 100 percent year-over-year growth measuring the behavior of more than 800 million shoppers per year by collecting data from more than 65,000 sensors (e.g., Wi-Fi, video cameras, POS). With each shopping trip generating an average of 10,000 data points, RetailNext now analyzes 8 trillion data points annually, the company said in a press release.
"Retailers today have massive appetite for fact-based insights about the physical shopping world," said George Shaw, VP of R&D at RetailNext. "One hundred-twenty brands and retailers are using our big data innovations to improve staffing, store layouts, fixtures, or marketing campaigns, based on what they learn about human behavior in their stores."
RetailNext was named among Fast Company's 2013 "World's Top 10 Most Innovative Companies in Big Data."