BIG DATA IS BIG BUSINESS.

As a newer, emerging sector within information and communications technologies the currency of big data and data analytics has never been hotter.
Closely associated with Business and Artificial Intelligence and analytics, there is ever-increasing interest within retail, industry and technology investment circles as more efficient automated data collection and collation systems demand attention.
And in a post-COVID world where business, government and industry concerns are seeking to gain greater understanding of shifting behavioural patterns in real world situations, in real time we are on the verge of new market trends.

The statistics and projections are remarkable.

• • AI presence detection global market worth 160b US.
  • Big Data, Analytics Sales Will Reach $187 Billion By 2022.
  • Forecasts of a 50% increase in revenues from the sale of big data and business analytics software, hardware, and services 2019 onwards.
  • Perhaps most significant according to an Accenture study, 79% of enterprise executives agree that companies that do not embrace Big Data will lose their competitive position and could face extinction.
  • Even more, 83%, have pursued Big Data projects to seize a competitive edge.

Through its proprietary presence detection and location intelligence Foresense Technologies is a major player in the fields of big data, presence detection and location intelligence.

Foresense is well-positioned to take full advantage of the current market investment opportunities and capitalise on heightened product demand as information about how people act and interact in physical spaces in an age of physical distancing presents a whole new paradigm in retail and industry.

WHAT IS FORESENSE?
Foresense Technologies has developed a platform to bring these types of specific parameters into the bricks and mortar physical world - a real-time quantification of human behaviour at your site in its day-to-day operations to provide invaluable insight supporting commercially important decisions and increase revenue at low investment
Using this information, organisations are able to effectively determine their busiest days and times, and how seasonal factors influence their locations’ traffic. Competing with online data collection, which already has algorithms in place to record basket size and customer return rates, bricks-and mortar stores now need to be able to collect the same sort of information about customer activity.
It is imperative for improvements to both the bottom line and customer loyalty to know how often customers enter a store, what time of the day they do so, what they do when they’re there, how long they stay for and whether their visits spike after a particular marketing campaign.
With highly specific information readily at hand Foresense Technology determines data driven actions to constantly improve efficiency of operations.

Failed business models across sectors in  commerce, government and industry are extremely  common.  

And there are examples of many more that have  not realised their full potential.  

According to the US Bureau of Labor Statistics,  only 35% of new businesses make it into their  tenth year. The numbers are damning. Forty-five  percent will fail during their first five years, and  around 20% will not last beyond the two year  mark.  

The reasons for this are varied – shortcomings  in research, planning, marketing and capital are  prevalent. The defining characteristics here are  

lack of knowledge, foresight and a resistance to  changing technologies.  

The capability to adapt to emerging trends and  developments at speed is also a key determinant  of business health.  

These concepts never been more important in  the face of economic uncertainty as we move into  2021 and beyond with the global pandemic and  recession. 

With the benefit of hindsight many ventures would  have had greater success if they had acted sooner  to incorporate new and emerging technologies  to keep up

Foresense Technologies has developed a unique tool to collect accurate visitor presence data in a manner that combines sales, marketing and presence data. It is flexible, versatile and creative – data that delivers results.
Forsense analyses how people act – and interact – on-site in real world settings. It allows accessibility in real time so highly-informed, proactive decisions
can be executed as trends are actually emerging. It provides real-time analytics of foot traffic inside and around an organisation’s physical location, collected by sensors integrating with consumers’ smartphones.
The integration of smartphone technology and analytics presents a wealth of information and calculated opportunities for interaction. Using
retail as an example shoppers are using their mobiles for more than simple product information.
Industry data reveals some interesting statistics on in-store mobile use:

• 43% access social media
• 61% compare prices
• 52% maintain shopping lists
• 49% take/share photos
• 46% find information
• 45% use coupons / vouchers

For decades now, behavioural data has been collected and analysed in the virtual world in minute detail.
Bounce rate. Dwell time. Impressions. Unique and return visitors. Session duration.
All of these small parts of information combine to form a highly detailed body of knowledge that can improve strengths and address weaknesses in the online space.
with leaders in the competition and remain ahead of the pack.
The problem is too many have a mindset fixated on past data and dated methodologies.
They are caught in the now, without a clear vision for tomorrow.

FORESENSE THE FUTURE
The Foresense Suite of Products is a major accomplishment and clear indication of the company’s market growth from the world-first single mini sensor design to the current robust suite of 6+ sensors. The identification of exciting new markets place the company at the very forefront of the presence detection and location intelligence industries on a global scale.
Based on what was learnt with many trials and customer installations Foresense Technologies created the second generation mini sensor which will become the first generation of Foresense Internet of Things (IoT) devices.
This includes:

• Machine learning based location sensor calibration for greater onsite accuracy
• implified onsite provisioning of the Sensors. (less than 5 minutes per sensor)
• Enterprise appliance health across all the Foresense sensors nationally and internationally
• Traffic and Customer Behavioural Analytics
• Live Data Aggregation and Processing
• Temporal Data Management

Foresense is now heading into a full array of Presence Detection with Sensor products in creation for specific sectors including Education (wristbands for child security), Agriculture Stock Control (solar powered ear tag sensors) and Security and Real Estate.

Other identified market partners include airports, casinos, malls, shopping strips, cafes, supermarkets, retails chains, theatres, cinemas, events, hotels, universities, hospitals and councils and smart cities.
Foresense Technologies is continuing to pioneer disruptive new trends in retail by creating the world’s most powerful AI real time data analytics engine, unique sensor location marketing, and real time loyalty programme and rewards memberships.

In the USA Foresense is in final stage preparations to roll out 2000 sensors for a major casino group to create a ground breaking real time VIP Loyalty App programme for their 14 million members.
Our clients include 4000 Newsagents across Australia and we have just recently started the first trial phase of 10000 sensors for oOH Australasia, from airports to shopping centres. We will create Australasia’s largest real time location-based data analytics footprint.
Foresense Technologies is poised ready to move towards an IPO on the ASX after the roll out of significant signed agreement revenue projects in Australia and USA.