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Veda Labs: AI Tools to Truly Understand Customers

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Vivek Singh, Co-founder

Vivek Singh

Co-founder

In today’s competitive landscape, it’s no surprise that retailers are struggling to attract consumers – both online and instore. Although a brick and mortar store certainly can fulfill the latter two needs based on general knowledge of its consumer base, it’s hard for a retailer to offer a personalized customer experience without having the retail analytics technology to glean information about a specific shopper. Analytics are critically important to an effective omnichannel initiative, as they are to most customer experience related programs, at both a strategic and tactical level. Particularly, video analytics is a new regime to help retailers gather the best insights to offer
exceptional customer exceptional customer experience. Based out of Delhi with offices in Silicon Valley, Veda Labs is an AI platform for video analytics, working in the field of retail analytics, enabling B2B customers to have an Omni channel experience and O2O (offline to online) strategy for any retail. This AI based organization harnesses Computer Vision, Machine learning and IoT to provide Analytics.

"Veda Labs enables brands to generate more data so that they can use it in multiple metrics"

Generating the Raw Material for Insight Data
Given the paradigm shift in retail, brands are focusing more on consumers and are acquiring data either from e-commerce portal or from the brick and motor retail store. Veda Labs enables brands to generate more data so that they can use it in multiple metrics. “Omni channel retail is a trillion dollar market in India alone. We are a part of it and generate data points by analyzing the video feed and the associated attributes of the same”, says Vivek Singh, Co founder, Veda Labs. Veda Labs has the ability to provide data in the most simple and granular format.
It is a platform where data can be achieved in the API format and integrated to the existing CRM. A business doesn’t require changing anything in the CRM. This platform can detect more than 3000 objects. The platform performs image processing and facial recognition together. Veda Labs assigns a dedicated operation scheme and a general account manager for every customer. The company is actively present in NASSCOM CoE and has deployed solution for them. Veda Labs has plans underway to enter a partnership with a renowned automobile manufacturer and some of the reputed facility management companies based out of India and Silicon Valley.

Being a GDPR compliant technology company, Veda Labs is working towards introducing new feature to their platform i.e. ‘unique versus repeat customers’. According to Vivek, this will be a key differentiator. When it comes to their product, Veda Labs is moving from PaaS to SaaS in the near future. Veda Labs, in the years to come is looking forward to reduce the CAPEX without compromising with the features of their platform. The company intends to deliver a consistent experience of knowledge and understanding of their data.