IMPLEMENTATION OF INTERNET OF THINGS IN RETAIL DEVELOPMENT

Abstract

Internet of Things (IoT) represents one of the key global digital communication technologies, either in business as well in society. The number of connected “things” in the total installed IoT base is growing rapidly worldwide. In support of this, Gartner predicts that by 2020 there will be in use more than 20 billion connected Internet of things. The subject of this paper is development of application model of Internet of Things in retail, while the main goal is to point out possible improvements to the retail business using modern IoT technology, specifically beacon (Bluetooth Low Energy - BLE) technology, through the implementation of the proposed model. As a business model, one of the largest domestic retail companies is used, in which the potential application of the IoT model aims to achieve the improvement of the loyalty program, the improvement of the customer database and the creation of a commercial effect. The concept of the project is designed, the necessary prerequisites for implementation, as well as the logical architecture of the client application. As the final conclusion of the conducted research, it is necessary to apply Big Data analytics which will contribute to making quality managerial decisions aimed at improving retail business (increasing the number of loyal customer, optimizing the business, creating the source of additional value).