The Internet of Things in Retail: Redefining Brick and Mortar Stores
Figure 1: Opportunities across Retail Functions
4.1
Convergence of Technologies
Digital technologies such as mobility, big data, NFC, augmented reality, sensors and cloud
computing provide opportunities to redefine retail stores like never before. Going forward, the
intersection of these technologies and IIoT-R will open up even bigger, more profound
transformation opportunities for retailers. IIoT-R platforms and technologies can either be
integrated in existing systems or join in new capabilities to create information value chains and
systems. Further, industry resources like the Industrial Internet Reference Architecture provide
the tools and guidance for deployment models and technology convergence. For example, instore digital signage can display relevant advertisements based on the profile of the customer in
proximity. This can be enabled with sensor-enabled shelves which can determine the location
and demographics of customers.
4.2
Coupling of Sensor Data with Enterprise Data
To provide deeper insights, sensor data can be integrated with customer data already available
in enterprise systems. The evolution of advanced analytics and machine learning algorithms on
both the edge and the cloud have enabled the rapid representation of these insights at all levels
of the organizations. For example, integrating sensor data with the Customer Relationship
Management (CRM) or loyalty system can enable better understanding of customer shopping
patterns and past interactions. Marketers can use these insights, in addition to contextual
IIC Journal of Innovation
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