Revolutionizing retail: Unlocking the power of smart spaces

  • November 21, 2023

In our ever-evolving technological landscape, the concept of smart spaces is revolutionizing the way we interact with our physical environment. Technologies like the Internet of Things (IoT), 5G and cloud computing are some of the forces behind this transformation. Using these technologies helps seamlessly create adaptive, intuitive and responsive spaces that cater to the ever-changing needs of their occupants.

The backbone of smart space is the Internet of Things. IoT devices equipped with sensors continuously gather real-time data from their surroundings, and with the power of machine learning and AI capabilities, this data informs intelligent actions. For instance, in a smart office, sensors can detect occupancy levels in different areas and adjust lighting, heating and cooling systems to optimize energy usage. Though smart spaces aren't limited to corporate office buildings, they’re also finding their way into shopping centers.

Exploring smart retail

Technologies like IoT, artificial intelligence and data analytics have sparked innovative solutions for the retail industry. Notable projects by NTT DATA include facial authentication and inventory-linked dynamic pricing at Catch&Go™, a register-less digital shopping store where customers can register their payment methods online and enter and exit the store with a simple QR code scan. This store, equipped with dynamic pricing and facial authentication, helps store owners by pricing the products based on an item’s inventory status while shoppers receive a seamless checkout system when exiting the store.

Another notable solution that can go hand-in-hand with smart spaces is the integration of digital twins. NTT DATA has implemented digital twins of assets, processes and spaces in environments such as manufacturing assembly lines, data centers, robotic instruments, buildings and other workspaces that can be replicated in retail environments as well. The installment of IoT devices in a retail store with the visualization and predictive intelligence that a digital twin provides can give insight into customer patterns, live auditing and even manage store safety conditions.

Potential use cases in smart retail

As a recognized global system integrator with dedicated resources for innovation, we embrace innovative approaches to solving our clients' business challenges. Further use cases in retail include:

  • Checkout queue management: Having a dynamic checkout service that can adapt checkout lines based on wait times through digital twin analysis.
  • Dynamic pricing: Using digital twins to adjust products in real-time based on demand, inventory levels or competitor prices.
  • Smart carts and baskets: IoT-enabled shopping carts that guide customers using augmented reality wayfinding and conversational AI to their desired products.
  • Inventory management: Real-time inventory tracking using sensors and RFID technology to prevent out-of-stock situations and overstocking.
  • Personalized recommendations: AI-enabled In-store kiosk that offers personalized product suggestions when customers input their preferences.
  • Cashier-less checkout: Automated checkout solutions using computer vision and sensors that allow customers to scan items and pay without traditional checkout lines.

Harnessing smart spaces with NTT DATA

NTT DATA seeks to provide data-driven insights by analyzing data collected from IoT devices and sensors. NTT DATA can contribute significantly to the exploration and implementation of smart retail concepts through:

  • Consultation and strategy development: Working with retailers to assess their needs and goals, helping them develop tailored strategies for adopting smart retail solutions that align with their business objectives.
  • Proof of concept creation: Collaborating with retailers to design and build proof of concepts that showcase the potential impact of smart retail technologies on customer experiences, operations and overall business outcomes.
  • Continuous improvement: Beyond initial implementation, NTT DATA can provide ongoing support, monitoring and optimization to make sure smart retail solutions evolve and remain effective over time.

The emergence of smart spaces is reshaping the way we experience our surroundings. With IoT as a driving force, these environments hold the advancement of industries and improve the quality of life for all.

Unlock the transformative power of smart spaces and revolutionize your business environment with IoT-driven innovation. Explore the future of smart business solutions with NTT DATA.

Subscribe to our blog

Elle-Marie DeFrain

Elle-Marie is a research consultant and a member of the NA innovation program. She is dedicated to learning about and applying emerging and growth technologies to meet the challenges of businesses today.


Related Blog Posts