WALTHAM, Mass., Jan. 13, 2014 /PRNewswire/ -- Profitect, a profit amplification solution provider for retail, announces its partnership with i3 International, a leading designer, manufacturer, and supplier of digital video technologies for the retail industry.
The partnership, announced at booth #3275 from the National Retail Federation's "Big Show" Annual Convention and Expo 2014 in New York City, will create a direct link between the i3 camera integration and traffic analysis and Profitect's pattern seeking analytics, giving retailers a more efficient and effective way to gain insights into consumer behavior, store performance, and methods of sales improvement.
"The partnership between Profitect and i3 International will provide customers with seamless integration of industry-leading video technology combined with a powerful pattern recognition software and analytical solution," says Mike Limauro, Vice President of Asset Protection for Weis Markets, a user of both Profitect and i3 technologies. "By combining resources, this partnership will open a new door to the future of profit amplification, driving any program far beyond the boundaries of traditional Asset Protection."
Both companies are leaders in creativity and innovation, bringing the industry best in class solutions and customer service.
"We're truly excited about the partnership with i3," says Guy Yehiav, CEO of Profitect. "By incorporating i3 data and video, customers will be able to better engage their stores. The combination of pattern analytics, like those provided by Profitect, and cutting edge digital video technology, like those provided by i3, automatically identifies hidden insights and patterns, guiding the business user to take action, in plain English rather than with millions of reports."
"i3's leading-edge video analytic technology adds a key layer of insight to Profitect's already powerful predictive analytic engine," says Vy Hoang, EVP of i3 International. "The combined technologies provide retailers with profound insight not delivered by any other solution that directly contributes to increasing profitability and cutting costs. We could not be more excited about this partnership."
About Profitect – Identify, Resolve & Measure
Profitect's Profit Amplification software, a pattern-seeking solution, enables retailers to quickly realize increased revenue and reduced costs across the entire retail supply chain. Profit Amplification pattern-seeking algorithms can "tell a story" by identifying the root cause of anomalies such as inventory distortion, on-shelf availability, shrink/waste/damage, or process non-compliance – helping retailers minimize the effort necessary to identify controllable factors which the solution translates into action. As a result, retailers can move quickly to prevent profit leakage at all levels of the organization, ultimately improving business processes and the top and bottom line.
About i3 International
i3 International Inc. is a leading video solutions manufacturer that has diversified its core product into providing business intelligence, in addition to video surveillance for retailers. Using video surveillance cameras installed in retail stores, i3 collects and analyzes data such as store traffic, traffic distribution, and wait times, which is then combined with other powerful i3 tools such as incident management and site auditing.