Intel CEO: Data playing invaluable role in retail transformation
Photo courtesy of NRF/Flickr: https://flic.kr/p/QKo3gh
As Intel CEO Brian Krzanich shares, he's watched how the personal computer has transformed the world and now he, along with the rest of the retail industry, is watching another evolution: how everything is becoming smart and connected and how technology is changing the definition of the store.
And, at the heart of that transformation is data, which he views as the heart of the customer relationship as well.
"Retail is undergoing a transformation and presenting a great opportunity," Krzanich said.
"It [data] is reinventing the in-store experience. It's about utilizing the power of data analysis and it' creating the store of the future," he told a standing-room audience during his keynote at the NRF Big Show, held in mid-January at the Javits Convention Center in New York City.
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During his presentationKrzanich demonstrated Simbe Robotics' Tally, the first robotic autonomous shelf-auditing and analytics solution for retail. Tally, which uses several Intel RealSenses cameras, provides retail employers with data regarding inventory and pricing and doesn't need any special tech infrastructure while navigating a retail store.
Intel aims to invest more than $100 million in the next five years in the retail industry, according to a press release, with the focus on helping retailers unify every part of the retail environment.
During his keynote, the Intel CEO also spoke to the impact of virtual reality technology in retail, and how it's letting customers and consumers to immerse within the shopping experience.
Robotics, he said, are not only coming into play to help the customer experience but to help the retail associate by providing invaluable data insight to what consumers need, want and expect.
"It empowers the staff to focus on customer services, provides insight into store operations."
Krzanich was just one of dozens of top retail leaders sharing insights at the annual NRF Big Show. Here's a quick way to read what others shared during the January event:
7-Eleven catching up fast in boosting the customer experience
Kohl's CTO on personalizing customer experience and how data plays a big role
Macy's, Wal-Mart chiefs: Customer experience is all about people
Virgin's Branson talks retail fails, retail success and what makes for a rewarding customer experience
Topics: Consumer Behavior, Customer Experience, In-Store Media, Internet of Things, Marketing, Merchandising, Mobile Retail, Omnichannel / Multichannel, Retail - Analytics, Retail - General, Supply Chain, Technology, Trends / Statistics
Companies: Intel Corporation
Judy Mottl is an experienced editor, reporter and blogger who has worked for top media including AOL, InformationWeek and InternetNews. She’s written everything from breaking news to in-depth trends. She loves a great pitch so email here, follow on Twitter and connect on LinkedIn.www