IT Can Help Brick-and-Mortar Retail Compete Using Data Analysis

The problem for a physical store is accurate inventory management so shoppers, not just salespeople, have some idea of what's on its shelves. Most retail IT admins should start there: a good inventory tracking system, because once that's deployed, you'll know what's supposed to be on the shelf. However, what's supposed to be there may not be the same thing as what's actually there.

One solution to this problem comes from Trax, a Singapore-based company that helps stores collect the data they need by taking a photo of their shelves with a smartphone. The photos of the products on the shelves are analyzed by using an artificial intelligence (AI) system called Trax Retail Watch, which can recognize the details of each product, count how many items there are of each category, and then over time apply machine learning (ML) to predict when to reorder.

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