Cisco: Retailers miss more than half of return from ‘Internet of Everything’
San Jose, Calif. – Retailers will gain $81 billion from the “Internet of Everything,” which is the term given to the connectivity of an increasing number of people, processes and things, in 2013. But according to new research from Cisco Systems, Inc., this only reflects 45% of the potential return.
Cisco data indicates the "Internet of Everything" could have returned another $99 billion to retailers this year by connecting more across their operations. However, retail IT executives are confident that they can capture this value. On average, retail IT executives rated their ability to capture Internet of Everything at 7.2, on a scale of 1 to 10.
Cisco identifies five key ways retailers are connecting people, process and things to capture more business value:
- Tap into dark data assets in-store: By connecting previously unused (or “dark”) data assets from sources such as video surveillance cameras, social media, the internet, and customer’s mobile signals to traditional retail data sets (such as transaction histories), retailers can begin to predict new trends and empower employees to improve profitability.
- Connect and build customer trust: When shopping, most consumers are willing to share personal information in exchange for better more personal service. Almost half (49%) of consumers are comfortable with retailers collecting personal information when shopping online in exchange for more personalized recommendations and customer service.
- Gain more visibility into inventory: This includes tracking materials and finished goods from the source, to the factory, to the delivery truck and ultimately to the store or warehouse using data-capture technologies such as RFID and sensors. In this model, retailers can anticipate exceptions to business rules and respond before anyone else.
- Drive higher levels of stock availability: In-stock performance is one of the four most critical indicators to overall store performance. With automated intelligent stock management and shelf sensing, stores can keep track of on-hand availability and order stock when inventory falls below a certain level, all without employee intervention.
- Maximize staff productivity: Employees can access and share best practices, operational alerts and develop smart training and development tools from their mobile device, while giving managers new insights into efficient ways to allocate sales personnel to drive profits. In addition, employees can provide real-time feedback on product and promotion performance. Also, experts can be connected across multiple stores via video conferencing digital displays to maximize productivity.
This includes materials and finished tracking the source to the factory for products delivery truck and finally to the store or warehouse using data capture technologies such as RFID and sensors.http://comptia220-802.blogspot.com/
Report: J.C. Penney sued over share sale; shareholder seeks class action suit
Plano, Texas – J.C. Penney Company shareholder Alan Marcus is suing the troubled department store chain because of its recent decision to build equity by issuing more than $800 million worth of new stock, which sent share values plunging, Reuters reported.
The report said Marcus, who bought 300 shares of Penney stock on Sept. 26 shortly before the new stock was announced, is trying to obtain class-action status for his suit.
Marcus is being represented by law firm Robbins Geller Rudman & Dowd, which often represents plaintiffs in class action suits. He wants the suit to cover anyone who held Penney shares between Aug. 20 and Sept. 26, 2013.
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Staples acquires personalization vendor
Framingham, Mass. – Staples, Inc. has completed the acquisition of Runa, a software company based in San Mateo, Calif., that helps online retailers increase sales by personalizing the shopping experience. Terms and conditions of the acquisition were not disclosed.
“Runa has a unique platform and outstanding talent with experience in e-commerce and online marketplaces,” said Ronald Sargent, CEO and chairman, Staples. “With Runa, we’re adding technology to better serve our customers with personalized items, offers, and delivery estimates, all in real-time. Runa will allow us to tap into the wealth of engineering and e-commerce expertise in the Silicon Valley area.”
Staples is continuing to invest in e-commerce capabilities, creating a highly personalized shopping experience and building on its online leadership. Runa’s PerfectOffer serves up automated, data-driven and personalized offers in real-time and PerfectShipping provides real-time personalized delivery estimates and free-shipping offers.
The Runa facility in San Mateo will serve as the newest Staples Lab, following locations in Seattle and Cambridge. In the coming months Staples plans to increase the staff in San Mateo.
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