Start-up of the week: In-store optimisation platform Monolith

Monolith is a data platform that compiles information from queue analytics to sensory technology to provide bricks-and-mortar retailers insight into their customers’ behaviour. Co-founder and chief executive Martin Birač explains more.

What it does

Monolith uses a various technologies to afford bricks-and-mortar retailers a greater understanding of their customers’ behaviour and demographics. The start-up uses a wide variety of tools to gain customer insight, including heat-maps to identify dwell time and the most popular points in store as well as sensor technology to identify the most frequently touched shelves and displays.  Retailers using Monolith’s technology are also able to compare the results from their various stores.

“Monolith uses a mixture of sales data, heat-maps, dwell time, demographic data, and sensor technology. These insights combine behavioural data and sales data and transform the results into actionable insights to enable retailers to increase sales” says chief executive Martin Birač.

What problem for retailers does the technology solve?

Monolith’s technology aims to give bricks-and-mortar retailers the same level of customer insight as online retailers are given through analytics. The combination of techniques used by Monolith should give retailers a comprehensive insight into how customers are responding to their products, store layout and visual merchandising.

“Monolith presents its users with a dashboard with decision matrices to help retailers decide what action to take based on the data gathered, rather than relying solely on gut instinct. This technology makes it possible for retailers to instantly measure the impact of any visual merchandising or layout changes in a much more refined manner” says Birač.

More information: http://www.mnlth.co