Technology and Security in The Retail Space with Frank Thomas

Frank Thomas is a security industry veteran with about 25 years of experience in mechanical engineering, operations, application design and sales. Frank kicks off the podcast highlighting retailers’ desire to maximize the value of each technology deployment. He discusses retailers’ drive to leverage technology to better understand their customers and gain insights that allow them to be smarter about their business. Frank explores the types of data and analytics generated from video and other security technologies and their value to different functional areas across retail. Tune in as we look ahead at potential market changes impacting the security space.

IN THIS EPISODE:

• [02:05] The most significant challenges retailers face today
• [3:36] Types of data that are crucial to helping businesses run better
• [07:00] How retailers are expanding the ROI on technology by combining previously siloed value propositions for technology usage across functional areas
• [07:00] How audit procedures reduce sweethearting and theft on order items
• [09:10] Critical success factors when deploying technologies
• [12:05] Bridging knowledge of consumer behaviors online and in the physical store
• [17:45] Connectivity: Frank’s favorite technology that he uses in everyday life

KEY TAKEAWAYS:

• Video and sensors, traditionally “owned” by loss prevention, can provide powerful information that can be used across multiple functional areas.
• The fusion of data reveals insights that are critical to better understanding your customers and the business.
• Loss protection leaders need to be engaged with merchandising and operations leaders.
• If businesses can get consumers to buy online pick up in-store, they can gain a lot of valuable data from those transactions.

LINKS MENTIONED:

Frank on LinkedIn
https://www.linkedin.com/in/frank-thomas-78555720/

Email
Frank.Thomas4@US.Bosch.com

BIO:

Frank Thomas is a security industry veteran with over 24 years of experience in mechanical engineering, operations, application design and sales. Bosch is at the forefront of IoT design and innovation. From the Building Technologies perspective, the volume of data from a multitude of sensors from visual to audio have created a data rich environment that when combined with semantic artificial intelligence provide the Power to Predict. Bosch is uniquely positioned to provide the Trusted IoT platforms with intelligence from the edge to the center in order to reveal business intelligence to make peoples’ lives better.