Digitizing the World of Retail with Trax CEO Justin Behar
Welcome back to How I Launched This! This week, Stephanie Wong (@stephr_wong) and Jenny Brown (@jbrojbrojbro) are joined by Justin Behar, the CEO of Trax. Trax is a cloud-based analytics software company that uses the power of machine learning and proprietary technologies to digitize retail for enhanced customer experiences and more effective goods management.Justin is no stranger to tech, having spent the last 25 years in Silicon Valley founding and expanding various companies. At Trax, Justin has held various leadership roles and recently was named CEO. Trax technology is able to help stores analyze inventory, product placement, some shopping behaviors, and more to make recommendations for how a company could maximize sales and customer satisfaction. Images of store interiors are uploaded and analyzed, providing tons of data from more than a million retail outlets. Justin walks us through an example of this process of shelf monitoring and data analysis, explaining how the system can help measure things like advertising campaign effectiveness, stock issues, and more. From manufacturing to the retail shelf, Trax offers important product feedback via the Trax dashboard to help companies operate more efficiently. All companies face challenges, and Justin details some of the obstacles Trax has overcome. Situations like new packaging may seem benign but can lead to bad data if not handled properly. Trax's sophisticated machine learning system compensates for this and other stock issues. Later, Justin offers insights into Trax data management now and into the future. We hear more about his journey to the CEO position and how he hopes to continue the positive trajectory Trax has been on. Episode Links:TraxTrax Video