Eagle Eye Networks announced the integration of Percolata’s Forecasting as A Service solution with the Eagle Eye Cloud video management system (VMS). Understanding the impact of operational and marketing efforts on in-store sales is complicated. Not only have shopper behaviors changed, but the retail landscape has rapidly evolved. Retailers and mall owners need a retail analytics solution with reliable and actionable data to help them make informed decisions that positively impact sales.
Percolata provides an integrated solution that uses data from video cameras, marketing calendars, weather forecasts, and more to automatically forecast when customers are actually shopping. This partnership provides these key benefits to customers:
- Use existing Eagle Eye security cameras to get traffic counts thus saving on the capital cost of buying traffic counters and installing the necessary cabling
- Percolata’s employee vs. customer classification technology enables retailers to understand the true customer demand coming to their stores
- Percolata’s forecast helps retailers to proper staff, or to understand the effectiveness of marketing campaigns
“The integration between Eagle Eye Networks and Percolata delivers customers advanced computer analytics that can accurately distinguish employees vs. customers using the Eagle Eye secure video for the Eagle Eye Cloud VMS”, stated Dean Drako, CEO of Eagle Eye Networks. “Customers still get the benefits of video surveillance, and with this partnership, have access to even more advanced insights into their business.”
With insight into how many shoppers (not employees) are walking into a store and when retailers can create effective marketing and operational decisions and understand the related impact. Incorporating broader market benchmark, promotional, and other data sets, retailers will be able to convert real-time data into meaningful insight to sell more, faster.
“Customers’ business operation benefit from the integration between Eagle Eye Networks and Percolata", stated Greg Tanaka, CEO of Percolata. “With simple integration, customers can leverage Eagle Eye Networks cloud-based surveillance to get cloud-based in-store traffic forecast, which is critical for labor planning and marketing campaign optimization”
Percolata Forecast as a Service gathers and forecast shopper traffic and transactions with 4x higher accuracy for retailers using weather forecasts, marketing calendars, and other data via proprietary deep learning technology. The service reduces labor costs by 2-5% while improving revenue by 1-5%. Percolata’s cloud-based forecaster also lowers inventory costs while improving marketing effectiveness. Percolata Forecast as a Service is a fully managed turnkey service.