What’s a poor brick-and-mortar retailer supposed to do? The competitive landscape seems to be permanently titled toward online retailers. Virtual sellers seem to enjoy facility and inventory advantages unavailable to their physical kin. They even get favorable tax policies from states that want to encourage internet growth.
Even with these asymmetric advantages, it’s the real-time insights available to online enterprises that provide a real game changer. By better understanding customer what a customer is viewing and their past history, a virtual store can provide guided advice specifically tailored to the individual shopper. Talk about targeted marketing.
Sure, the physical enterprise has strengths the online world doesn’t. Like first-person customer service and products that customers can touch, feel, and try on. But that real-time insight the retailers use so well? Out of reach.
Until now. With our acquisition of ThinkSmart, Cisco can help level the playing field.
The widespread proliferation of mobile devices and services provides opportunities for enterprises and service providers to better serve their end users based on location and preferences inside venues and retail spaces. With Cisco’s acquisition of ThinkSmart’s network and Wi-Fi location analytics capabilities announced today, the customer experience in public venues such as retail locations, hotels and airports, is about to get much better.
ThinkSmart Technologies, based in Cork, Ireland, is a software company that delivers location data analysis using Wi-Fi technology. Together, Cisco and ThinkSmart will enhance the wireless network by providing location intelligence and analytics to service provider and enterprise customers to know what is happening in their environments and to better engage end users.
ThinkSmart’s location analytics collects information on movement within a venue including time of day, traffic patterns and dwell times. This information helps enterprises and venue operators improve the customer experience by identifying appropriate staffing levels, reducing wait times, optimizing business processes, and improving customer flows.
Cisco’s vision for mobility solutions will be accelerated by the acquisition of ThinkSmart enabling customers to analyze location data from wireless networks and provide insight that can be used to drive new commercial opportunities and enhance end-user experiences.
ThinkSmart, initially formed at the Incubation Centre of University College Cork, joins Cisco’s Wireless Networking Group. The acquisition closed in the first quarter of Cisco’s fiscal year 2013.
The acquisition of ThinkSmart reinforces Cisco’s commitment to deliver an intelligent network by providing customers with enhanced tools, such as location analytics, that increase the value of the network. This aligns with the core; one of Cisco’s five foundational priorities, by providing differentiated solutions within the infrastructure of the network.