As the world of retail transforms, driven by technological advancements, one startup has captured attention with its unique approach to in-store analytics. **Deep North**, formerly known as VMAXX, is charting a new course in retail insights, leveraging existing video surveillance technologies to provide accurate, data-driven analysis of shopper behavior and store performance. Recently, the company secured $25.7 million in a Series A funding round, aimed at further developing its ambitious AI-powered platform. But what exactly does this mean for retailers, and why is it so important?
The Power of Existing Infrastructure
One of the most striking features of Deep North’s approach is its capacity to utilize existing CCTV setups that retailers already employ. Rohan Sanil, CEO and co-founder of Deep North, argues that other data collection methods, such as beacons or Wi-Fi tracking, may not yield the depth of information necessary to truly understand customer behavior. Traditional methods often provide only 30-60% accuracy, leaving retailers seeking clearer insights into the “why” behind shopper decisions.
Deep North integrates seamlessly with about 60-70% of a retailer’s existing camera systems, which means there’s no heavy infrastructure investment required. This not only keeps costs down but also allows retailers to have actionable data almost immediately. In a retail environment where the urgency to innovate dictates survival, this is a game-changer.
Comprehensive Insights for Informed Decision-Making
Deep North gathers various parameters such as:
- Daily entries and exits
- Occupancy rates
- Queue times
- Conversion rates
- Heat maps of customer movements
Such metrics allow retailers to gain real-time insights into shopper activity and behaviors previously deemed unattainable in physical retail settings. The use of AI in analyzing video data transforms the passive nature of surveillance footage into an active tool for retail optimization.
Privacy and Data Security: A Priority
In a world increasingly concerned about data privacy, Deep North has taken steps to ensure that its analytics respect customer anonymity. According to Sanil, the platform does not retain personally identifiable information (PII), ensuring compliance with regulations like GDPR and the California Consumer Privacy Act. By prioritizing data privacy, the company alleviates concerns related to surveillance while providing retailers with the needed insights to enhance their operations.
A Growing Trend in Retail Analytics
Deep North represents a broader trend within the retail sector. As more retailers seek to harness the power of AI and machine learning, a significant shift towards integrating video analytics into existing security frameworks is becoming evident. Major players, such as Amazon, have already begun to explore and expand in this area, driving competition and innovation.
This innovative progression could lead to new products equipped not only with analytic capabilities but also recommendation engines that enhance the shopper’s journey. In the future, we might see a shift where AI-directed analytics not only inform retailers of in-store traffic but also suggest optimal product placements and personalized promotions for customers.
Conclusion
Deep North is making strides in redefining retail analytics through its innovative use of AI-powered video insights. By capitalizing on existing infrastructure and prioritizing privacy, the company is helping retailers make informed decisions that drive sales and enhance customer experience. As we look to the future, it’s clear that such advancements are crucial for the ongoing evolution of retail, allowing businesses to adapt and thrive in a competitive landscape.
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At fxis.ai, we believe that such advancements are crucial for the future of AI, as they enable more comprehensive and effective solutions. Our team is continually exploring new methodologies to push the envelope in artificial intelligence, ensuring that our clients benefit from the latest technological innovations.
