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Futuristic Software Might Revolutionize Retail Management

By Author: Frank Martin
Total Articles: 2

There is not a single aspect of human life in which software and computing technology have not made an impact. Customarily, businesses have been the forerunner in embracing advanced technology. In fact, technology and software have evolved as the key driver of economic growth. No wonder, retail sale of products and services being the most popular mode of business, have long ago realized the importance of adopting and implementing state-of-the-art technology to gain a cutting-edge in the competition.

Organized retail sector, who are not leaders in terms of investment in technology infrastructure, has long been heavily dependent on software for managing bulk amount of data, items and transaction. However, many minor players who operate with shoestring budgets are also showing interest in software aided retail environment. To match the demand, several vendors are betting on programming wizards to create intuitive software, and packaging them in customized forms.

Consequently, the line between the traditional biggies and unorganized, local businesses in the world of retail are being blurred in context of leveraging retail management software. Moreover, local retailers are keen about reaping maximum benefit from their numerical supremacy and profuse buyer base. Sensing this as an opportunity, many software giants are pushing limits to invent and develop software that are capital intensive, as well as capable of addressing the growing concern of scale and complexity.

Special algorithms designed by mathematicians, computer scientists and software engineers, are critical for success for such ambitious projects. Complicated mathematical formulas and millions of pieces of codes are integrated together by specialists, who are toiling hard to replicate human intelligence. Incredibly powerful computers capable of crunching extremely large numbers by the blink of an eye, coupled with the subtle nature of artificial intelligence, are surely on the verge of revolutionizing the world of retail management software.

In fact, many casinos, betting syndicates, and crime investigation agencies backed by sufficient financial muscle are currently using some beta versions of such software and modern sensors, to ensure randomness, detect patterns, and anomalies. Their theory is based on the hypothesis that in a certain situation, normal and innocent people are supposed to behave in a manner that matches a predefined range of sensor data employed for monitoring different physical parameters like body temperature, frequency of heartbeat, pupil dilation, etc.

More or less the same concept forms the core of algorithms that are being used as the backbone of hi-tech retail management software. The day is not very far when departmental stores and shopping malls will be empowered with a continuous network of sensors and processing chips, which is often referred to as the ‘Internet of Things’. Whenever a customer will enter a store, an endless array of sensors and processors will capture, collect and process data to project a probable mood of that person, including revealing buying preferences and purchasing power, based on previously obtained information. Even, a sequence of automatically generated instructions will be forwarded to staff of that store, so that they can proactively guide the customer to specific aisles and shelves within the store. This, in turn, will surely lead to increase in sales, but is also not devoid of several fallouts that might stain the unchallenged dominance of software over human judgment.

Author’s Bio:

Frank Martin is a researcher engaged with Swadesh Softwares Pvt. Ltd., and is appraised by his peers as a talented writer too. He is an expert in the emerging specialization of digital marketing strategies, and has been instrumental in the development of affordable retail management software solutions by his team.

Total Views: 141Word Count: 598See All articles From Author

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