As the digital and in-store experiences blur and become more consistent, digital innovations are opening exciting new possibilities for retailers. Point of Sale systems or POS has changed the face of the retail sector making purchasing and maintaining the count of products more accessible. The emergence of digital/mobile POS has had a significant impact on enriching customer satisfaction and shopping experience.
There is another element to analytics that isn’t as glitzy but equally (and some would say, more) important: “How do we improve operational efficiencies” using analytics? Operational efficiencies relate to an inward-looking improvement, focused on workforce employees, how they work, what they do and when, to be able to reduce revenue leakage, be at the right place for maximum impact and more. Obviously, improving operational efficiency results in customer experience improvements as well.
The Internet of Things is based on a centralized system of interrelated devices that are equipped with computing abilities. These devices have inbuilt UIDs, a set of unique identifiers that can transfer data through a network without requiring human interaction. The sensors in devices and appliances will collect different types of data and communicate, analyze or even act on it. With IoT, businesses can develop new ways to connect and increase value by building new businesses and channels of revenue. It is no secret that implementing solutions that involve the use of the IoT would provide seamless connectivity across all platforms, but at the same time, there’s a raging security issue that risks shutting down the entire set up.
We are currently at the forefront of developing new and amazing systems by leveraging what Blockchain has to offer. The decentralized nature of Blockchain means higher levels of security. While it initially seemed like an excellent opportunity to improve financial institutions, Blockchain is showing growing potential in the healthcare sector, government, and now, the Internet of Things.
The world has come to a point where automation is not a fancy word anymore. Often, automation can bring visuals of robots in your mind. However, look around, and you will find plenty of automatic devices that you use every single day. In fact, many of the things your smartphone does are automatic as well. For example, once you have the Wi-Fi option on, it connects to an available network automatically. A simple example like this shows how beneficial automation can be. Apply the same concept to buildings, and the benefits increase by manifolds.
Digital Transformation is much more than a disruption or technology. A case in point is the retail giant Walmart. Amazon's epic takeover of the online retail market has compelled companies like Walmart to adjust or perish. Toys R Us is a good example. Toys R Us was one of the world’s most famous toy brands which buckled under due to growing online competition. They filed for bankruptcy last September and are now shutting down their stores. Walmart, however, is clearly trying to up the ante as it plans to add 500 more pick-up towers to its already existing network of brick and mortar stores and 200 pickup towers. It is trying to blur the line between online and offline sales by allowing the buyer to pick-up online ordered products from any of its pickup towers. In the process it gives buyers discounts for picking up their stuff, thereby, saving delivery cost. With an employee base of more than 2.3 Mn, retail giant Walmart has a good insight on purchasing habits of people. Recent retail industry reports suggest that they are now prioritizing the extraction of client data. With data being the new currency, they have realized that to continue succeeding in their game they will need to transform how and what they sell. Such a paradigm shift in their way of doing business has enabled them to maintain a thorough catalog, while providing significant value to their customers.
Blockchains are transforming many industries beyond just revolutionizing digital currencies. While a large part of our focus is on how blockchains can empower a new form of “digital currency” that avoids the pitfalls of our existing currency system (namely, reliance on a central authorities like banks, avoiding expensive transaction fees and money fraud due to double-spending (Double Spending, n.d.)), many other industries are leveraging other unique benefits of blockchains to help them digitize their B2B processes of automatic audits, verifiability and contractual agreements. This brief note will describe some of these industries and how blockchain is helping them transform.
The importance of anomaly detection is due to the fact that anomalies in data translate to significant (and often critical) actionable information in a wide variety of application domains. This paper discusses the use of Machine Learning based Network Traffic Anomaly detection, to approach the challenges in securing devices and detect network intrusions.
Both virtual and augmented reality is influenced by similar technologies. The purpose of this innovation is to provide users with an immersive and enhanced experience. The advent of AR and VR has provided tremendous opportunities for growth and development in a slew of facets both commercial and private.
There is a very common confusion regarding the mechanisms of these two concepts. With all popularity garnered by AR and VR, a majority of people have begun confusing one technology with the other. In light of this, here is a brief analogy to understand both their functionalities
There are several reasons why a test-driven methodology to create IoT technology and its software is needed. When considering traditional methods of testing, programming codes were built and tests were conducted more on a production level. However, the modern approach requires any bugs and glitches to be captured at an early stage. In a test-driven development approach, human interaction for manual testing is minimized, making it possible to capture errors faster and earlier.
Drones, also referred to as Unmanned Aerial Vehicles (UAV), are non-crewed and pilotless aircraft that can fly either using onboard computers or remote control. They are a primary component of the Unmanned Aircraft Systems (UAS) and commonly used by the military. Their idea first became known on 22nd August 1849, when Venice was attacked by Austria with unmanned balloons full of explosives. During and shortly after World War I, the first drone was invented with the intention of taking down Zeppelins but was never flown. Several successors were developed and with each try, there was an improvement in the technology.
The Internet of Things (IoT) is the next buzz word and its presence is being felt almost everywhere. IoT is basically inter-networking between physical devices (with different levels of intelligence), enabling them to communicate with each other in order to realize some business … read more
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