Investment Overview

What Is Foresense?

Foresense Technologies Ltd 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.

Foresense provides real-time analytics of foot traffic inside and around an organisation’s physical location, collected by sensors integrating with consumers’ smartphones. It can show how many people are passing, visiting and/or engaged by an outlet on an hourly, weekly or monthly basis.

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.

Consumers today are smarter, sharper and more cautious than ever before, with skyrocketing demands and expectations. To combat this, accurate measurement and analysis of data is essential to formulate a marketing strategy that successfully encompasses all consumer touch points. Transparency and personalised engagement is vital, made possible through technological advancement and effective integration of traditional and digital channels.

Consumers want micro content that is quick, sharp and agile. Customer experience is a key focus and outcome, proving once again that consumers must be anchored in the heart of marketing.

Foresense Technologies Ltd offers sophisticated applications and social media tools, which mean customers can interact directly to help retailers change product lines and store layouts, change opening hours and deliver customised information back to the customers.

By placing powerful sensors throughout a retail business, Foresense is able to capture millions of customer data points every single second. Additional information, such as where customers are within the store, how long they spend in certain places and whether or not they talk to staff, comprises data all gathered from customer smartphones.

Foresense is not restricted by any single hardware vendor or computer operating system. The analytics solution is as equally at home on a smartphone as it is on a laptop or desktop computer system, no matter the brand or operating system. It works with Windows, Mac OS, Linux and others. All that is needed to access the Foresense Analytics Dashboard is a web browser.

Foresense systems run in the cloud, utilising the most modern and highly reliable systems available

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What This Means?

Previously inaccessible customer insights are now obtainable thanks to the extraordinary global growth of smartphone ownership and solutions such as this from Foresense Technologies Ltd.

Foresense provides a unique approach to providing insightful and actionable information to its customers that adds value to their business’ bottom line allowing casinos, smart cities, shopping malls, hotels and retail business to experience a quantum shift in their businesses generating profits for the future from the data in the now!

Research has found that currently 84 percent of smartphone shoppers use their devices to assist them when shopping in stores (Google Shopper Marketing Council, ‘Mobile in Store Research’) and 82 percent of them make their actual purchasing decisions in-aisle (Forrester).

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The Solution To Big Data Overload

Worldwide Big Data market revenues for software and services are projected to increase from $42B in 2018 to $103B in 2027, attaining a Compound Annual Growth Rate (CAGR) of 10.48% according to Wikibon.

Forrester predicts the global Big Data software market will be worth $31B this year, growing 14% from the previous year. The entire global software market is forecast to be worth $628B in revenue, with $302B from applications

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.

And this is where Foresense comes in. It was conceived as a response to the lack of a coherent analytics tool that combines presence analytics with marketing success analysis and sales data in real-time. The lack of such an easy to use tool has caused the management staff of venues and commercial enterprises not merely frustration, but thousands of hours of work every year manually combining this information. But Foresense is different:

  • Unlike other data collection tools, Foresense greatest strength is that it knows how to use the material collected. Instead of drowning in big data, organisations have complex information distilled and delivered to them in a way that can be understood and utilised.
  • Being able to measure campaigns on a daily basis means that, rather than waiting for end-of-month sales figures, organisations can be quickly alerted to the effectiveness of a marketing campaign and, if sales figures are declining, rapidly rethink or adapt the campaign.
  • By taking into account such factors as total traffic volume, the ratio of new versus repeat customers and even the weather, organisations are able to get the bigger picture regarding the efficacy of their marketing and whether or not there are other factors influencing their volume of sales.
  • Foresense achieves this via its unique and groundbreaking technology. It is the first in the world to introduce the real-time analytics Foresense Customer Dashboard live panel, as well as the digital real-time Ping-point. The latter technology is able to pinpoint potential customers anywhere from just one metre to 150 metres from a hotspot sales area and is able to engage them with realtime pop-up promotions delivered to their mobile phones or displayed on digital signage.
  • Location of customers in-store and, based on historical sales analysis and proximity to relevant products, serves up tailored offers to the customer – all at a fraction of the cost of mainstream advertising channels.
  • Also, unlike other data collection tools, Foresense developed its unique analytics before the hardware, so the software applications and capabilities were not developed as an afterthought add-on to the physical equipment.
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How Foresense Works?

It works by monitoring the MAC (media access control) address in users’ smartphones (both iOS and Android platforms), to gather the data. Importantly, no privacy issues are impacted as no personal information is collected until customers opt in to the system.

Foresense integrates with multiple major Tier One Access Point vendors removing the requirement in many cases to replace or upgrade existing Wi-Fi installations.

Foresense utilises wireless APs (access points), gathers this data and presents it in the aggregate through the Foresense Customer Dashboard. This is done with intuitive and customisable graphs that can be used to understand trends such as capture rate (passers-by versus visitors), user engagement (time spent), and visitor loyalty (new versus repeat visits). Foresense is able to provide these new analytics to all organisations by leveraging the industryleading cloud architecture that is behind all Foresense Analytics products.

Foresense also offers a VIP option, which facilitates the ability to build a list of frequently returning customers. By linking this information with a social Wi-Fi component, such customers may be identified directly by a name or recent photograph. This enables the establishment of a number of different alerts, such as:

  • Alerting staff or management when a VIP customer visits the store
  • Greeting VIP customers on their entry to the store
  • Offering personalised promotions directly to VIP customers
  • Offering personalised promotions directly to VIP customers
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THE APPLICATIONS OF THE FORESENSE ANALYTICS DASHBOARD ARE ALMOST LIMITLESS, BUT OTHER POTENTIAL ASSETS INCLUDE:

Storefront potential

Analysis of a location’s passer-by traffic gives direct insight into a location’s visibility and, therefore, potential, which can be particular useful information when selling properties

Pricing justification

Storefront potential analysis can also be utilised in the areas of tenancy negotiation and pricing

Car volumes

Rather than simply counting the number of cars passing through a drive, the Foresense Analytics engine is able to drill down into the number of people in each car passing through, which is particularly useful for fast food outlets that may use push promotions to, say, encourage a car with a number of occupants, ordering just one meal, to take advantage of an upselling discount offer

Service times

Analysis of dwell times gives direct insight into traffic flow, enabling a study of time spent waiting to order, taking the order, making a payment and receiving the order, so that this process may be streamlined for greater efficiency

Security

Suspicious dwell times and unauthorised entry can be tracked and monitored leading to increased security in venues.

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