Data is the New Gold

You’ve likely heard the phrase “data is the new gold” before, highlighting the immense value it holds.

Automation plays a pivotal role in accelerating data analysis and reporting. Complex algorithms and machine learning models can collect and process massive datasets in a fraction of the time it would take for human analysts. This speed and efficiency enable organizations to respond quickly to trends, identify opportunities, and mitigate risks.

As the retail sector faces labor shortage, the automation of time-consuming tasks offers both an innovative solution and large opportunity to tap into unlocking in-store data.

Robots themselves benefit from data  

Ensuring safety is the utmost priority when automating processes within the retail space. This becomes  particularly crucial when integrating robots into highly dynamic environments shared by associates and customers. While observing a robot maneuvering down an aisle might appear straightforward, the process entails a complex interplay of diverse algorithms rooted in AI and machine learning. These algorithms are designed to make decisions contingent upon the various scenarios unfolding within the ecosystem.

Similar to human learning, robots derive insights from past experiences. As the amount of encountered situations expands, so too does the sophistication of the algorithms governing their actions. When this occurs at scale, the learnings of one robot can impact the learnings of thousands of other subsequent units. Robots, having learned from this experience, are now equipped to adeptly handle analogous scenarios.

Drawing an analogy to crowd-sourcing, each robot’s decision-making process involves consulting numerous scenarios stored within the system. This wealth of potential choices enables each robot to intelligently navigate and determine the optimal course of action for the task at hand.

“WHAT MAKES BRAINOS® UNIQUE STEMS FROM ITS SCALE. WE’RE IN ALMOST 30,000 DIFFERENT LOCATIONS WITH OUR ROBOTS. THE ECOSYSTEM THAT WE’VE BUILT AROUND BRAINOS IS REALLY ONE OF THE MAJOR DIFFERENTIATORS BECAUSE IT’S INFORMED BY THAT SCALE THAT WE’VE ACHIEVED OUT IN THE MARKET. WE’VE JUST SEEN SO MANY MORE THINGS THAN YOU WOULD SEE OTHERWISE WITH A MUCH SMALLER FLEET, AND THAT REQUIRES SUBSTANTIALLY MORE TOOLING TO BE BUILT AROUND IT.”

– Jarad Cannon, CTO of Brain Corp

Tracking in-store data

Data quality is paramount for making reliable decisions. Automating data processes can help identify and rectify errors, inconsistencies, and duplicates. This results in a higher level of data accuracy and reliability, empowering organizations to extract meaningful insights and trends.

Retailers are relentlessly focused on delivering an exceptional customer experience that fosters unwavering loyalty, whether customers choose to shop online or in physical stores. Yet, one of the most significant challenges lies within the brick-and-mortar stores themselves, where the conversion of physical spaces into digital intelligence remains a complex and time-consuming endeavor, often susceptible to errors. This blind spot critically hinders the realization of a seamless omnichannel experience and obstructs retailers from establishing a unified inventory management strategy that spans all their stores and/or fulfillment centers.

And amassing data is just one part of the equation; having a robust system to interpret and act on this data is equally vital. In essence, the more data you possess, the more empowered you become – provided you have an efficient mechanism to harness its insights.

Each retailer is unique, so its data is based on their inventory strategy and structure, as well as their data  policies. Some retailers would prefer to own the data from their stores and integrate it in their existing systems. Meanwhile, other retailers may prefer receiving reports or gaining access to actions via a third party application. Given this, software companies should offer flexibility in data management processes.

Brain Corp and data insights

The comprehensive AI solution is designed to transform inventory management for retailers. Brain Corp is working with Google Cloud to combine its retail AI and data analytics portfolio with Brain Corp’s robotics platform.

A noteworthy outcome of this collaboration is the BrainOS® Sense Suite, which incorporates the integration of data-collecting cameras and sensors into robots. This technology, combined with Google Cloud’s extensive product recognition database and robust data processing capabilities, empowers Brain Corp to provide near-real-time insights to retailers. Decisions based on robotic-captured data empower retailers to optimize their operations, leading to increased sales by identifying trends and customer preferences with precision. Furthermore, this data-driven approach minimizes waste through efficient inventory management and enhances various aspects of store performance, ultimately boosting store profitability by ensuring resources are allocated effectively and customer experiences are optimized.