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Internet of Everything (IoE) – The Key to the Next Leap Toward Frictionless Business

Fighting “Friction” in the Check-Out Line and Beyond

You pull up to the gas pump, wait in a long line, and then fumble with your debit card and the touchscreen. Once at your hotel, you search mightily to find a parking spot before struggling with the ticket payment system. And then comes check-in, which entails more waiting in line at the front desk to get the key, before discovering that the key doesn’t work.  When you finally get in the room, it’s set way hotter than your preference.

OK, none of these experiences are major hardships, let alone life threatening. But taken together, along with so many other time-wasting aggravations — or business friction — they do take a toll: on energy bills, productivity, and nervous systems!

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Join Us on Oct. 22 for Our Final Analytics Webcast

Hello, retailers everywhere! My name is Dianne Lamendola, and I am a senior retail practice advisor here at Cisco. My role is to work closely with store operators and merchants to help understand your business and how technology can help you reach critical goals.

I hope you have been following our three-part series of one-hour webcasts that Cisco has been hosting this year on retail analytics. In the store, online, and across data sources, retailers have been increasingly focused on how to gather and analyze the metrics that help provide insights to run a tighter operation and provide a more exciting experience for your shoppers.

On Oct. 22, we’ll wrap up this series with a session on “Technology that Gets Down to Business: Develop Your Action Plan for Retail Analytics Success.” Held at 10:00-11:00 am PT/1:00-2:00 pm ET, this candid discussion lets you learn how to:

  • Implement innovative retail analytics technologies
  • Drive added value from traditional and new data sources
  • Deploy mobility, wireless, video cameras, sensors, and services to jumpstart your action plan

Register today! By registering, you will also earn a free introductory analytics enablement meeting and additional tools to help you think more about your program.

While it’s not necessary to attend the previous sessions to join us, please feel free to review the recordings of our prior events:

  1. Part I: Understanding the Basics of Setting Up Your In-Store Analytics Program -- Recording
  2. Part II: Case Studies of Analytics Programs in Real-World Stores – Recording

We welcome all retailers, including IT staffers, who want to know more about how analytics fit into and enhance your store environment.

I’ll see you there!

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Location Based Services Enabling Smart Connected Cities

Smart Cities and the Internet of Everything have become commonly used terms over the past year or two. Both represent huge opportunities for both business growth and also for the delivery of better services and experiences for consumers and citizens alike. The size of this IoE opportunity has been widely predicted to exceed $14 Trillion[1] and within this just the Smart Cities component has been estimated to be worth $1,266 Billion[2] by 2019.  With this scale it is little wonder that it attracts a lot of interest and therefore a lot of very interesting innovation.

lbs1.1The Internet of Everything (IoE)  brings together people, process, data and things to make networked connections more relevant and valuable than ever before.  Smart and Connected Cities takes this and applies it in an urban environment to create new capabilities , richer experiences and unprecedented economic opportunity for businesses, individuals and countries.

While the Internet of Everything is about a connected grid of people, processes, data and things, what touches most of us is the ‘connecting people’ part of this equation.Within the greater IoE world, the Foundation for Delivering Next-Generation Citizen Services is how organizations and municipalities find innovative mechanisms to engage with us all. Read More »

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Turning the Retail Store into a High-Octane Digital Experience

Digital innovations have upended many assumptions about the art of buying and selling. But the brick-and-mortar retail store is far from extinct. And while digital technologies continue to disrupt traditional business models, they also present retailers with exciting opportunities to make their stores more immersive, interactive, and, well, digital.

Recently, I had the privilege of discussing the future of the retail store with Doug Stephens, one of the world’s foremost retail industry experts and author of the book, The Retail Revival: Reimagining Business for the New Age of Consumerism. Listen to the full interview here.

As Doug describes it, “media is becoming the store and the store in essence is becoming media.” In short, he argues that the store itself has to embrace many of the capabilities and services that have made online retailers so successful, while retaining and enhancing some of the advantages of the physical retail experience. The store should become a “high-octane experience,” as Doug puts it.

Cisco_RetailStoreHighOctane_5.16.14

I wholeheartedly agree. In the Internet of Everything (IoE) era, an explosion of new connections is driving new sources of value. And the physical retail store can capture these new sources of value — just as their online counterparts have.

The key lies in blending the two experiences in a seamless manner.

As in-store consumers, we expect to interact with a product viscerally in a physical retail setting; online we enjoy access to rich product content. Combining the two will go far to engage and convert consumers while cementing brand loyalty.

Here are a few of the ways in which retailers are creating new digital in-store experiences:

  • Data analytics present a precise picture of an individual shopper, their online research and shopping history, and their real-time, in-store browsing, as tracked through their smart device and/or in-store video.
  • Wi-Fi and mobile technologies enable new connections during each step of the shopping journey, offering real-time prompts, expert advice, and incentives to “seal the deal.”
  • RFID tags and other sensors — combined with data analytics — provide precise tracking of products and inventory and enable such in-store experiences as “magic mirrors” and digital signage. These utilize detailed information on individual shopper behavior and buying history to transform the real-time experience.

Doug and I agree that, moving forward, it will be essential for retailers to gain the trust of consumers. If they are to be tracked in-store and engaged in real time, customers will need to feel confident that retailers are fully transparent throughout the shopping journey.

Surveys show that consumers have their doubts about sharing data. But when trust is established and clear benefits and value are established, they are willing to op-in. In effect, the nature of the exchange has to be clear, and education is crucial. Then, the full power of merging digital technology with the brick-and-mortar world will be evident.

The end result, I believe, is a win-win for retailers and customers alike.

But the key for retailers is to lead not follow. Waiting to see what other retailers are doing is not an option. Through data and analytics, they can get to know their customers better than ever. And by knowing their wants and desires, create a digital in-store experience that is more exciting than ever before.

For more on innovation in retailing check out our new BizWise video to learn how one mall owner has transformed relationships with shoppers using an omni-channel approach.

Future of Mobility Podcast Series: Turning the Retail Store into a High-Octane Digital Experience from Cisco Business Insights

Additional Resources:

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Video: the Super Sensor of the #InternetofEverything

A key advantage of the Internet of Everything (IoE) is the ability to “see” the world around us in unprecedented ways.

One way to do this is through the millions of cheap, tiny digital sensors generating data from shoes, tires, shopping carts, jet-engine parts, medical equipment, and just about anything else you can imagine.

But another type of sensor promises even deeper visibility and insight: video. Connected video — when deployed in the right situations and combined with other IoE components, such as analytics and mobility — can truly transform the ways in which we sense the world. And for organizations, video will provide rich, real-time insights that will drive hyper-aware decision-making and predictive strategies.

video-super-sensor-version3-FINAL

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