Internet of Things (IoT) & Data Analytics for Vending Machine Analytics Engine

 Internet of Things (IoT) & Data Analytics for Vending Machine Analytics Engine

Problem Statement:

How to gather different information from various sources of Vending Machine and the data should be useful in analyzing the market needs, turning the expenditure of the organization towards fast-growing sector. The solution should help in meeting the real goal of managing vending machines and a lot more. The solution should be a robust solution which can provide complete track & trace of activities alongside product, sales, location-based usage and a lot of effective parameters.

Solution:

An IoT based system as an enabling layer will be used to serve as a source of information collected from the vending machines. Analysis around the available data will help in meeting the real goal of managing vending machines and a lot more.

a. How IoT features will help in gathering Information data:

Networks Suitable for the exchange between objects

Distribution of connected objects particularly in smart stores

Value-Added services in health, wellbeing, the connected home or the smart city

Datavenue: Data & IOT solutions and services for businesses regarding collection, storage, security, processing and availability of data generated by connected objects

  • Ubiquitous Networks
  • Connected Computing
  • Ubiquitous Sensors
  • Intelligence at the hem of the network
  • Tracking behaviour for real time
  • Enhanced situational awareness

b. How Data Analytics engine will help:

Analytics Engine
  • Analytics to Identify sales of products and customer demands in turn to help customers in product Demand estimation using intelligent shelving (Customized shelve level data of products sold and available)
  • Revenue & profit by the help of traceability of each currency of each denomination collected. Identification of Filled cash boxes & cash to cashless transaction segregation per vending machine
  • Sales analytics to identify consumer buying pattern & Peak time of the day in terms of number of items sold.
  • Machine uptime tracking with predictive & prescriptive maintenance of vending machines.
  • Segmentation of sales in terms of customer premises site segregation.
    ü Sale of all machines in different areas.
    ü Sale of machines which are Grocery Stores, hypermarkets, supermarkets, or outdoors.
    ü Most popular product in vending machines located at Grocery Stores or located in different areas.
  • Machine Location Wise/Model wise product fill level & sales analytic.
  • Insight into Change in Price Setting, Number of Price Alterations.
  • Machine Energy awareness (Return Air Temp, Cabinet Temp, Evaporator Temp, and Condenser Temp) per location or per premises segment (Grocery/Outdoor) for estimate ideal location for machines.
  • Sales tracking based on location for future positioning of Machines.

USP/Benefits:

  • Limits potential stock out by initiating notification and alerts to Customer channels via Mobile APP/Email/SMS.
  • Stock replenishment management using the app for inventory refill personnel with map-based route planning to refill the available products. This will enhance Mobile workforce management.
  • Greater operational efficiency through real time stock management.
  • Mobile Application to help the Stock replenishment & management team get access to a lot of actionable intelligence and in turn helping the refill personnel with map routing, stock and sales.
  • Authenticity & Permissive capabilities
  • Historical & real time analytic ability

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