Study • 24.08.2016

Internet of Things data management issues concerns UK vendors

Research findings suggest that 78 percent of UK vendors expect the IoT to have a significant impact on their ability to gather customer insights data across the supply chain

Channel Sales Challenge
Channel Sales Challenge
Source: Zyme

Many go so far as to say that it will also change the way they think, and operate, as an organisation. Increased demand from consumers for a seamless shopping experience is resulting in the development of a variety of customer-facing IoT applications and two thirds (67%) of those surveyed said that they plan to use these technologies to capture more insight about customer behaviour across the supply chain, in the next 12 months. Vendors are also reviewing how to use IoT to gain improved visibility into every component that impacts the customer experience, from inventory management and stock availability through to lead times for online sales and traceability after point of sale.

Despite this movement however, the research entitled “The Consumer Technology Digital Intelligence Report”, found that there are concerns about the reality of using IoT technologies to collect such intelligence. UK vendors regarded collecting data (63%), maintaining security of the data (62%), the volume of data generated (60%) and how best to interpret the data collected (59%) as the key issues that need to be addressed in order for IoT to deliver significant improvements in operational efficiency and improved logistics.

Nick Andrews, General Manager EMEA & India at Zyme explained: “There is understandably some caution in the market about how best to harness IoT which will undoubtedly counter the determination to adapt and benefit from making such process changes. Current systems and data collection methodologies are simply either not providing all the necessary information about customer usage, or cannot be completely trusted to be totally accurate.”

Zyme believes there is a very real need to improve the quality and reliability of data collected, as well as ensuring timely access to it and IoT, combined with an effective Channel Data Management strategy, has the potential to deliver this increased visibility that will benefit both vendors and the retailer channel alike.

The report also found that more than two thirds of those interviewed (67%) believe that their channel relationships could be improved with better access to information about online sales and 47% cited better customer data would give them a better sense of control over their business.

“The challenge going forward will be ensuring that the increased volumes of data from RFID tags, smart shelf sensors, location-based services and source-tagged SKUs – to name but a few – is combined efficiently with data from existing systems in order to automate and optimise the supply chain. If an organisation can be successful in bringing all of this data together in one place, and can then share it effectively with the channel, it will not only ensure that business decisions are based on actionable insight but that customers will receive the best possible buying experience,” Andrews concluded.

Source: Zyme

related articles:

popular articles:

Thumbnail-Photo: New German vending partner for ITL
30.11.2023   #Tech in Retail #cash management

New German vending partner for ITL

Innovative Technology (ITL) have recently announced Bernd Boddart as their latest trading partner

Bernd Boddart will be supplying their cash validation and biometric age verification solutions to the German vending market. Bernd Boddart, based in Mönchengladbach, Germany, have 30 years of experience in the field of coffee machines, table ...

Thumbnail-Photo: The global state of autonomous stores
18.12.2023   #Tech in Retail #self-checkout systems

The global state of autonomous stores

The stores are located in various retail segments such as food retail, fashion, electronics, convenience stores and fast food.

In a highly competitive global retail landscape, autonomous stores are an emerging force that addresses changing consumer behaviors, reduces operational costs, improves profitability, and powers revenue growth strategies. Advancements in autonomous ...

Thumbnail-Photo: Tesco to introduce new scan-free technology on self-service tills at...
03.01.2024   #brick and mortar retail #Tech in Retail

Tesco to introduce new scan-free technology on self-service tills at GetGo store

Seamless Shopping Revolution: Tesco Tests Scan-Free Technology in London

Tesco is trialling an exciting new technology innovation that means customers don’t need to scan their items ...

Thumbnail-Photo: EuroCIS 2024 - technology special
11.12.2023   #online trading #e-commerce

EuroCIS 2024 - technology special

The latest technology solutions and trends for you and the retail sector

At EuroCIS 2022 from February 27 to 29, 2024, the Leading Trade Fair for Retail Technology, we will be looking at all the important and current topics relating to technology in retail: AI and Machine Learning, Payment, Connected Retail, Seamless Store and Smart Energy Management and many more.

Thumbnail-Photo: EuroCIS 2024: Go beyond today!
16.10.2023   #retail #Tech in Retail

EuroCIS 2024: Go beyond today!

27 to 29 February 2024 will see the Who’s Who of Europe’s retail technology sector meet in Düsseldorf

Go beyond today! EuroCIS at the end of February will once again show solutions and products for the retail of the future @Messe DüsseldorfIn late February, numerous companies will again exhibit solutions and products for retailers to shape and ...

Thumbnail-Photo: Payment as a success factor: more than just paying...
15.01.2024   #Tech in Retail #payment systems

Payment as a success factor: more than just paying

Flashback to 1994: databases and ERP systems, first commercial websites, mobile phones with colour displays, CD-ROMs, Java as a programming language ...

Thumbnail-Photo: Out of Stock in Retail and innovative solutions to avoid them...
07.11.2023   #brick and mortar retail #customer satisfaction

Out of Stock in Retail and innovative solutions to avoid them

Due to various events, the availability of goods in retail will be increasingly restricted from 2022, with the result that customers cannot find in food retail the products they wish to buy, because those products are sold out, are temporarily ...

Thumbnail-Photo: SES-imagotag becomes VusionGroup
29.01.2024   #software applications #artificial intelligence

SES-imagotag becomes VusionGroup

A new identity highlighting the broader portfolio of innovative solutions
developed by the Group to solve the major challenges of physical commerce

SES-imagotag (Euronext: SESL, FR0010282822), the global leader in digital solutions for physical commerce, today announced that it has changed its name to VusionGroup. This new name embodies the various product lines and solutions that have enhanced ...

Thumbnail-Photo: Unified Commerce Platform in focus
24.10.2023   #omnichannel #software developement

Unified Commerce Platform in focus

Handover at REMIRA: Dirk Bingler supersedes Stephan Unser as CEO

REMIRA is setting the course for future development of the company: On November 1, Dirk Bingler (48) will become the new CEO of the supply chain and omnichannel software expert headquartered in Dortmund. The previous CEO Stephan Unser (62) moves to ...

Thumbnail-Photo: Trigo and Netto Announce Autonomous Supermarket with Real-Time Receipt...
24.01.2024   #Tech in Retail #artificial intelligence

Trigo and Netto Announce Autonomous Supermarket with Real-Time Receipt Capability.

‘Final step’ in frictionless shopping drives trust by enabling consumers to view their receipts BEFORE leaving the store
Full size 800m2 grocery supermarket powered by computer vision AI is Europe’s largest retrofitted frictionless store

Trigo, a leading provider of AI computer vision technology that transforms traditional brick-and-mortar retail outlets into digital smart stores, and discount supermarket chain Netto Marken-Discount (also known as Netto), have partnered to launch ...

Supplier

Innovative Technology Ltd.
Innovative Technology Ltd.
Innovative Business Park
OL1 4EQ Oldham
VusionGroup SA
VusionGroup SA
55 place Nelson Mandela
90000 Nanterre
REMIRA Group GmbH
REMIRA Group GmbH
Phoenixplatz 2
44263 Dortmund
Captana GmbH
Captana GmbH
Bundesstraße 16
77955 Ettenheim
Zebra Technologies Germany GmbH
Zebra Technologies Germany GmbH
Ernst-Dietrich-Platz 2
40882 Ratingen