The founders of Google Analytics have floated a new company called Euclid Elements which will provide data analytics tools for physical retailers and merchants.
The platform has been designed for brick and mortar retailers and merchants and provides real-time analytic data to judge customer habits; similar to what is being used by online retailers and merchants.
Euclid Elements (opens in new tab) will provide real-time data and analyse it for retailers and merchants to better understand their customers' shopping experience and habits.
The company, which came out of stealth mode, also announced that it had received $5.8 million in Series A round of funding led by New Enterprise Associates with Harrison Metal, Triple Point Capital and other investors.
"To put it simply, we're Google Analytics for the physical world," says co-founder and CEO Will Smith reports San Francisco Chronicle (opens in new tab).
"Online retailers have been using data to improve their customers' shopping experience for years. With Euclid, major retailers and downtown storefronts are now able to leverage in-store customer data to better compete with the online world through improved customer satisfaction and loyalty", he added.
Euclid uses sensors to map the movement patterns of shoppers through their retail store. The sensors basically sense the W-Fi signals on smartphones allowing the retailer to understand how the shoppers are moving through their stores. Euclid claims that no personal data is collected and that the data is aggregated to provide a bigger picture to retailers.