VideoMining Featured at Goldman Sachs 24th Annual Global Retailing Conference
CEO Rajeev Sharma discusses “Emerging Technology Solutions for Retail”
NEW YORK, N.Y., September 8, 2017—Rajeev Sharma, Founder & CEO of VideoMining, participated in the Emerging Technology Solutions for Retail panel at the Goldman Sachs 24th Annual Global Retailing Conference. The exclusive conference brought together C-level executives from global retailers along with a carefully curated selection of innovative and disruptive leaders from retail solutions providers.
The Emerging Technology Solutions for Retail panel engaged in lively discussion of a variety of hot-button areas related to the changing retail marketplace. Topics included bridging the data gap between online retailing and brick-and-mortar retailing, innovative methods of gathering previously unmeasured data to respond to shopper preferences and the effect of emerging technologies (including AI and Machine Learning) on the affordability and effectiveness of business intelligence.
Sharma spoke alongside Michael Feindt, Founder, CSO of Blue Yonder and Guy Yehiav, CEO of Profitect, rounding out the gathering of leading minds in the retail analytics space and providing a thought-provoking discussion for attendees from across the global retailing industry.
A key discussion focused on the need to generate data in brick-and-mortar and omnichannel retailing that rivals that of online retailers. While online retailing has long been able to optimize virtually all aspects of the shopping experience—from messaging and click through rates to inventory management and upselling—physical retail has lagged behind due to an inability to measure key in-store behaviors. However, new advances in sensing technology and automation are unlocking in-store data analogous to the sort of metrics that were previously limited only to online shopping.
Additionally, the panel discussed how the evolution of omnichannel retail has changed the way organizations measure the impact of shopper marketing and other investments. As retailers increasingly rely on fast-paced collaboration with manufacturer partners and other stakeholders, being able to nimbly uncover actionable insights is key. Leading-edge solutions providers, such as VideoMining, empower clients with subscription-based tools and on-demand access to data enabling fact-based decisions and rapid adjustments to optimize the entire shopping experience.
“With the increasing rate of change in today’s retail industry, we are seeing more demand for tools and data streams that enable ongoing monitoring and evaluation of activities such as marketing and merchandising,” said Sharma.
“Overall, the Global Retailing Conference was a fantastic experience that renewed the commitment of the retail industry to new technologies and approaches that move us toward full integration of advanced analytics throughout the omnichannel shopping experience. We are excited for VideoMining to become an even larger part of this retail revolution.”