t cht lk
TECH TALK
Given that two of the key technology
platforms used to derive and deliver
IoT-powered intelligence at the edge
of the enterprise have already been
deployed in most retail environments
today, it’s no surprise that retailers see
potential, and a potentially strong return,
with IoT-based solutions.
Barcode-based systems and mobile devices
are highly versatile and could quickly be
configured to work within more advanced
IoT-based architectures.
Almost immediately, handheld mobile
computers, smartphones, tablets and
scanners could deliver expanded intelligence
to front-line-store associates to improve
point-of-sale (POS), restocking, physical
inventory counts and inventory lookup,
among many other actions that help to
improve the speed and quality of customer
service and secure sales.
These same devices can be utilised to
simultaneously improve back-of-house
logistics: shipping, receiving, inventory
management, buy-online-pick-up-in-store
(BOPIS) fulfilment and more.
They could also be combined with other
technologies such as prescriptive analytics
engines, sensors, RFID locationing systems
and near-field communications (NFC)
technologies to offer near-perfect clarity into
retailers’ operations and produce the small,
actionable data that makes a big impact on
the bottom line.
Yet, retailers aren’t investing as heavily in IoT
solutions as one might think based on this
year’s study findings. Despite the aggressive
“
FOR THE LAST
FEW YEARS, THE
PRIMARY GOAL
FOR RETAILERS
HAS BEEN TO
GAIN GREATER
VISIBILITY
INTO THEIR
OPERATIONS.
year-over-year growth in their ‘intelligence’
score, retailers’ average spend on IoT is the
lowest among all surveyed sectors.
I suspect this is because retailers have spent
the last few years thoroughly evaluating the
many different IoT strategy and solution
options available and are just now starting
to move into the execution phase. (Only
58% of retailers actually have a well-defined
IoT vision and are executing on this plan
right now.)
Others (41%) have yet to scale their
IoT solutions company-wide. They’re
likely testing different models in select
stores in order to optimise mobile
device configurations, refine workflow
applications, shore up security and solicit
both worker and customer feedback on the
impact of such technologies on in-store
shopping experiences.
Spending should increase as pilot
programmes conclude and retailers become
more confident in their strategy and ability
to bring comprehensive IoT systems to scale.
The real ROI of ‘intelligence’ is
measured by action
Mark Thomson, Director of Retail and
Hospitality EMEA, at Zebra Technologies
78
INTELLIGENTCIO
For the last few years, the primary goal for
retailers has been to gain greater visibility
into their operations. The ability to fully
sense and analyse what customers and
associates are doing within a store or
warehouse can be invaluable. Definitive data
about what is or isn’t happening informs
inventory management strategies, decisions
about the digitalisation of customer
experiences and more.
Yet, the real power of IoT – the real return
– comes when those lessons are turned into
measurable action.
Today, only 55% of retailers share
information from their IoT solutions
with employees in real time or near-real
time. And only 38% share the actionable
intelligence with all of their employees.
That’s a missed opportunity.
www.intelligentcio.com