InvenSense's Coursa Retail technology enables smarter and
more profitable stores by identifying and analyzing customer
patterns
MOUNTAIN VIEW, California,
Sept. 20, 2016 /PRNewswire/
-- Based on its recent analysis of the retail location
intelligence market, Frost & Sullivan recognizes InvenSense
with the 2016 North America Frost & Sullivan Company of the
Year Award. InvenSense, a leading provider of motion sensing and
tracking technology, has altered dynamics in the market by
launching Coursa Retail—a remarkably simple and effective retail
location intelligence solution.
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Coursa Retail ingeniously taps into the sensors (accelerometer
and gyroscope) embedded in customers' smartphones. It relays
in-store customer activity to retailers, generating analytics
similar to those of online browsing. InvenSense's cutting-edge
technologies are also used in wearables, drones, gaming devices,
optical image stabilization-enabled cameras, and automotive and
industrial applications.
"The Coursa Retail solution levels the playing field for
retailers by giving bricks-and-mortar retailers new insights into
their customers' in-store individual and aggregated shopping
behaviors," said Frost & Sullivan Senior Industry Analyst
Brendan Read. "These include shopper
visits and dwell times at aisles and products, purchase sequences,
checkout duration, queue measurement, and store traffic flows. With
these insights, Coursa Retail can identify the shoppers who browse,
but don't buy certain products, enabling retailers to more
effectively target shoppers with the right offers and incentives
that drive increased sales. It also gives omnichannel retailers a
complete in-store and online view of customers' shopping
behaviors."
The InvenSense Coursa Retail solution consists of a mobile
software development kit (SDK) and server solution that integrates
with retailers' mobile loyalty apps and operates as a background
service. Retailers need to have no infrastructure other than
Bluetooth beacons at store entrance and exit points to identify
when customers enter and exit the store.
Coursa Retail's algorithms then formulate raw data into
actionable insights that it makes available to retailers through
dashboards or application programming interfaces (APIs). The
insights then help retailers improve in-store sales, conversion
rates, customer loyalty, and attract new customers. The data helps
optimize merchandising, store planning for maximum appeal,
staffing, and convenience. Moreover, the system does not require
access to in-store data networks. This reduces IT complexity by
avoiding lengthy integrations with stores' systems. With
bricks-and-mortar retailers facing stiff competition from each
other, and from online and pop-up stores, there is a potentially
strong market for Coursa Retail.
Initial pre-pilot testing results in retail stores have
validated the efficiency of the Coursa Retail technology. As more
retailers tie loyalty programs into mobile apps, they will be able
to combine online and in-store data to obtain a 360-degree view of
customer behavior. This huge product advantage sets the Coursa
Retail solution apart from its peers. It also illustrates its focus
on driving business performance by innovating for the future.
"The success of Coursa Retail will allow InvenSense to diversify
from its wireless device base and expand into new markets, thereby
acquiring additional and recurring revenue streams," noted Read.
"This is critical for the company as its smartphone and tablet
markets begin to mature."
Each year, Frost & Sullivan presents this award to the
company that has demonstrated excellence in devising a strong
growth strategy and robustly implementing it. The recipient has
shown strength in terms of innovation in products and technologies,
leadership in customer value, and speed in response to market
needs. In short, the award looks at the emerging market
participants in the industry and recognizes their best practices
that are positioned for future growth excellence.
Frost & Sullivan Best Practices awards recognize companies
in a variety of regional and global markets for demonstrating
outstanding achievement and superior performance in areas such as
leadership, technological innovation, customer service, and
strategic product development. Industry analysts compare market
participants and measure performance through in-depth interviews,
analysis, and extensive secondary research to identify best
practices in the industry.
About InvenSense
InvenSense, Inc. (NYSE: INVN) is the world's leading provider of
MEMS sensor platforms. InvenSense's vision of Sensing Everything™
targets the consumer electronics and industrial markets with
integrated Motion and Sound solutions. Our solutions combine MEMS
(micro electrical mechanical systems) sensors, such as
accelerometers, gyroscopes, compasses, and microphones with
proprietary algorithms and firmware that intelligently process,
synthesize, and calibrate the output of sensors, maximizing
performance and accuracy. InvenSense's motion tracking, audio and
location platforms, and services can be found in Mobile, Wearables,
Smart Home, Industrial, Automotive, and IoT products. InvenSense is
headquartered in San Jose,
California and has offices worldwide. For more information,
go to www.invensense.com and http://www.coursaretail.com.
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