Higson establishes new analytics firm

17 Nov 09

Higson has set up the company along with former Dowshu technical manager Ed Kohut and sales manager Paul Green.

He says BI 3 has brought together multiple new technologies along with existing CCTV technologies to help give owner/managers a deeper ‘insight’ into their organisation.

Business Insight 3 provides companies with “Insight Management Reports”. These reports contain information on key metrics in a business such as sales conversion rates, advertising effectiveness, staffing efficiencies, customer behaviour, health and safety and critical areas of security.

This information is delivered in a clear and efficient format backed up by video evidence, Higson says, allowing decision makers to be more informed, with better quality information.

He suggests a working example:a retail store that is taking 500 transactions on their tills per day, with five of these being fraudulent.

With a BI 3 system, Higson says, the store owner would be informed of the number of visitors to the store on a particular day, the conversion rate of visitors to sales, where people walked whilst they were in the store (Hot Spots), estimates on staffing numbers by time, and many other metrics. They would also be provided with short video clips of the fraudulent till transactions.

Higson said: “By providing business owners with usable information, combined with video as opposed to just raw data, we can help them to make better business decisions, make efficiencies within their store, reduce fraud and make their stores more profitable.

“We have put together a sophisticated system to do all the number crunching. The result is a short report with detailed usable business information. When you think that a business owner could save £1,000s every month yet outlay less than £50 per week, this becomes very exciting.”

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