Understanding the Internet of Everything for Retail
Here at Cisco we are busy getting ready to go to NRF next week, which is being held in New York on Jan. 12-15. Cisco is at the show expo on Jan. 13-14, and will be featuring four company thought leaders in the annual Big Idea sessions. I asked Lisa Fretwell, customer solution director at Cisco, to tell us more about her topic and the buzzphrase that’s beginning to penetrate the industry: The Internet of Everything.
Q: Lisa, what is the Internet of Everything?
The Internet of Everything, or IOE, is the next step change in customer experience store efficiency and effectiveness, a way of thinking about stores and store technologies to derive the greatest possible benefit from every data point. In the future there will a significant increase in the numbers of “things” connected to the Internet. Those new connections will create a huge amount of useful data that we can use to transform our processes and radically change the way that stores engage with customers. This next generation combines data, processes, people, and things to create significant new and additional value for the businesses.
Q: Why is IOE so important for retailers?
A: Remember years ago when the Internet came along and retailers said, “It will never take off”? Today’s transition to the Internet of Everything will be even larger and faster than the move to eCommerce or mCommerce, as it is enables rich customer experiences and a new era of operational productivity. IOE helps to optimize low margins and drive profitability by keeping stores ahead of high customer expectations. It accomplishes this by improving productivity through automated operations based on new data sources and sensors combined with smart analytics.
Q: What do you think are the most important topics you’ll discuss at NRF?
A: My goal is to help retailers start to understand the critical opportunity offered by IOE. I think it’s important for retailers to understand these new concepts and see what their competitors are doing. We’ll discuss what they need to do to get their business ready for IOE and how to get started – not just architectures, and connectivity, but how IT needs to rethink data and analytics platforms and how retail businesses can adapt to make the most of the brave new IOE world. To understand the economics of this, check out the white paper Embracing the Internet of Everything.
Time and Place:
“The Internet of Everything: What’s the Art of the Possible in Retail?” with Lisa Fretwell takes place on Monday, Jan. 13, at 2:00-3:00 pm, in Room 4 on Level 3 of the Expo Hall. For those who can’t be there, a recording of the session will be available after the show. Visit Cisco’s NRF website to learn more, and do take the time to stop by Cisco booth #1954.
I’ll see you at NRF!