Trax announced today that it has been mentioned as one of the technology providers in Gartner’s digital business report, “Image Recognition: The Intersection of Digital Business and Analytics at the Store Shelf” by analyst Dale Hagemeyer.
According to Gartner, “Retail execution and monitoring has gone digital and can provide substantial value to consumer goods manufacturers in both their field forces and office-based users, regardless of class of trade or geography. It is all about getting insights about the store shelf and being able to act upon them in virtually real-time.”
The leading real-time image recognition provider in the consumer goods sector, Trax provides actionable insights within five minutes or less to help clients realize tighter execution controls in-store and unlock revenue opportunities at all points of sale.
Trax does this using ordinary smartphones as capture and analysis devices. Sales representatives simply use their smartphone to take photos of relevant store shelves, and Trax does the rest, analyzing and reporting on share of shelf, competitive insights, shelf standards, planogram compliance and promotional materials in the store.
Sales reps then can use this information immediately while in conversation with store managers or to maximize shelf and planogram arrangements before leaving the store.
Gartner mentions, “Providing actionable insights at the store shelf increases sales rep productivity and allows for greater store coverage and discovery of opportunities that would not otherwise manifest themselves, without investing significantly more time and resources in the store."(1)
“From Gartner’s digital business report, we believe that Trax meets all the selection criteria listed in the ‘Best’ category,” said Trax Image Recognition CEO Joel Bar-El.
“Technologically, Trax leads the way in defining the gold standard for image recognition retail solutions with:
• 96%+ accuracy
• Real time mobile and web reports within five minutes in-store
• Coverage of over 250,000 store visits every month per market
• Production rollout within weeks
Bar-El further added, “We aren’t surprised that Gartner has chosen to emphasize accuracy, scalability, data analysis and integration as the most important aspects of an image recognition solution. When we founded Trax, we built the company with these very qualities specifically in mind to ensure a better commercial outcome for our customers.”
Bar-El also said that Trax would continue to grow and develop its solutions for the benefit of the retail sector.
“As a technology company, we pride ourselves on staying ahead of the industry and providing the right tools and insights to help our customers achieve their business goals faster and in a more agile way. With Trax, they can easily uncover and address their performance gaps, identify category opportunities and increase their revenue right away.”
(1) Gartner, “Image Recognition: The Intersection of Digital Business and Analytics at the Store Shelf” Dale Hagemeyer, 12 Aug 2014