Prague, 30 March 2023 — Analytics Data Factory, a Czech-based expert on the management and use of enterprise data, has introduced Food Save, a revolutionary solution designed for retail stores with fast-moving goods, typically groceries. Food Save collects data on the quantity and movement of specific goods around the store from CCTV video footage and evaluates the data in real time using artificial intelligence. The system will automatically notify of the need to restock items running out, discount overstocked items on a one-time basis, or recommend moving excess stock to another store before expiry. This helps retailers effectively optimize their stocks, thereby reducing food waste. New Food Save capabilities to be added later include, for example, checking the freshness of fruit and vegetables on the shelves.
“Food Save can detect the need for restocking, distribution and production of perishable products in real time, thereby reducing waste. In addition to this positive impact, it helps save costs and resources in many other areas,” says Kamil Mahdal, founder and CEO of Analytics Data Factory. “With automatic restocking notifications, Food Save saves time for store staff. Based on highly reliable forecasts and historic data, it can accurately identify the amount that needs to be stocked to optimize the distribution process. Accurate data models increase the likelihood of sales, improving stock turnover. We have been in talks with some retail chains on Food Save implementation.”
Food Save leverages CCTV video footage of a given space, with artificial intelligence recognizing items and their quantity in real time. Whenever there is shortage, the system will automatically notify of the need to replenish the respective item. For excessive quantities and slow sales, it may recommend cutting the price. The system can also recommend moving overstocked items to another outlet where the stock is low and the chance of selling higher. The system also recognizes misplaced objects and notifies of the need to remove them. In addition, Food Save’s artificial intelligence learns continuously and keeps improving its recommendations.
The data gathered by Food Save can be used for effectiveness analysis and supply & demand forecasting for individual stores or the entire chain, with an option to integrate the solution with the customer’s other systems. The system features robust security, including anonymization of people that may appear in the CCTV footage.
When developing and testing Food Save, Analytics Data Factory strived to mimic the customer’s physical conditions and operations as closely as possible. For this purpose, it designed its own lab - a virtual store that simulates real-life product placement, store lighting, frequency of people passing by, etc. We continuously test and improve all aspects. “We also plan to include a freshness analysis - a capability to recognize deterioration of the quality of fruit and vegetables on the shelves. We are already working on implementing this feature to Food Save,” adds Kamil Mahdal.
Food Save is based on proven solutions and products from global technology leaders Diebold, SAS, VMware, and Dell. Together, they create an accessible and secure ecosystem to address the needs of retail stores.
For more information, visit www.foodsave.cz.
About Analytics Data Factory:
Analytics Data Factory is a supplier and administrator of solutions based on SAS analytical technologies on the Czech market, including the entire associated ecosystem, such as hardware, operating systems, databases, development and versioning software, messaging infrastructure, and big data platforms. Analytics Data Factory specializes in areas where it achieves excellence, as witnessed by client references. These include primarily real-time proactive customer relationship management (CRM), real-time fraud prevention, real-time signal processing and image recognition, advanced analytics of big and streaming data, stabilization and refactoring/reverse engineering, and migration and stabilization of system and integration platforms. Its clients include Komerční banka, Česká podnikatelská pojišt'ovna, Kooperativa insurance company, Home Credit, and others. For more information about the company, please visit www.byadf.cz.
Contact for media:
Ondřej Micka, mob.: +420 724 352 552
Lucie Bolková, mob.: +420 773 748 787
E-mail: adf@emcgroup.cz
