Improving Inventory Accuracy through Data-Driven Retail Automation Services
With the global pandemic overwhelming grocers and retailers with consumer demand, a new white paper titled Improving Inventory Accuracy through Data-Driven Retail Automation Services examines the key role that in-store robots could play in gathering inventory and out-of-stock (OOS) data with increased accuracy to help retailers close data gaps and inform better business decisions to keep up with consumer preferences and habits.
The white paper specifically examines the use of in-store autonomous robots to perform inventory checks and storewide shelf scans normally performed by store employees. These tedious and error-prone processes performed by inventory-checking robots provide a more accurate, holistic view of inventory data. Badger Technologies’ multipurpose robots demonstrate very high accuracy rates when performing shelf scans with over 90% accuracy in identifying incorrect and mispriced items and over 95% accuracy in detecting OOS items. Armed with sophisticated data analytics, retailers will have the resources to not only pinpoint their problems, but also to prioritize which problems to fix first.
Retailers are heavily investing in analytics technology, including data visualization, machine learning and artificial intelligence. This investment is helping bridge the digital and physical retail experience and improve operational efficiency.
Today’s autonomous robots have recently become visible fixtures in grocery stores and act as mobile data collection units to provide retailers with predictive and prescriptive analytics. These data-savvy retailers will be equipped with the operational insights and consumer data to employ data-driven solutions and provide increasingly personalized shopping experiences for their customers.