Objective
Brick and mortar stores still generate 89% of the total volume of sales in Europe. Not knowing lost sales statistics creates a major blind spot. Not knowing lost sales statistics might lead to over/understaffing stores, stocking the wrong inventory and missing opportunities due to price or product placement.
There is a clear need for lost sales based business intelligence that gives store managers the agility to optimize resources and maximize sales. They need lost sales and sales information to detect trends early and be proactive.
Our technology SENSEI enables retailers to gather lost sales data and merge it with their sales data by using every store as a customer research lab, allowing the development of effective customer-centric strategies. SENSEI is built on 1) computer vision, 2) sensors and 3) in-store devices, and is able to provide precise information about how each visitor is interacting with the store space even if they don’t buy.
We have identified our target market as the fashion and apparel retail chains, where store footprints are small (when compared with grocery), highly scalable due to multiple heavily standardized stores, and with a strong need and appetite to invest in data analytics and business intelligence.
Smart cities involve optimizing information technology to better understand our infrastructures and the behaviors of people and to be able to make informed decisions that meet the needs of citizens, institutions, and companies with a view to the community and sustainable development. SENSEI does exactly that for stores.
In the long run, our technology will definitely contribute to Smart Cities on a larger scale. The founders’ vision when creating SENSEI was to fill a gap in the market and that is destined to create real smart stores. They believe with high certainty that both market share and revenue projections will be achieved within the projected time frame. We are already using SENSEI with a series of pilot users.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- engineering and technology civil engineering urban engineering smart cities
- engineering and technology electrical engineering, electronic engineering, information engineering electronic engineering sensors optical sensors
- natural sciences computer and information sciences artificial intelligence computer vision
- social sciences economics and business economics microeconomics
- natural sciences computer and information sciences data science business intelligence
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.1.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT)
MAIN PROGRAMME
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H2020-EU.2.3.1. - Mainstreaming SME support, especially through a dedicated instrument
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-1 - SME instrument phase 1
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-SMEInst-2016-2017
See all projects funded under this callCoordinator
Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
6000 767 CASTELO BRANCO
Portugal
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.