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Video analytics has changed everything for retailers. There was a time when merchandising (making money) and loss prevention (saving money) were two separate retail tracks. There were mystery shoppers and people counters to help improve merchandising, and there were security cameras, store detectives and security guards to help deter and catch shoplifters and reduce loss. Not anymore.
Analytics in Video Surveillance Goes Mainstream
Once reserved primarily for stable, high-security specifications, the swift advancement of technology and vast improvements in reliability, effectiveness and accessibility has moved video analytics from the sidelines to the mainstream for a lot of smart reasons.
Top Reasons Video Surveillance Analytics is Revolutionizing Retail
When you understand the advantages, the increased usage of video analytics in retail is no mystery. Here are just a few.
- There are analytic solutions for everyone. Video analytics, or CCTV software, has come a long way in a very short time with increased capabilities and accessibilities that can fit any size business with vast options in servers and infrastructures.
- Options for implementing analytics software. There are two main options for implementing analytics software, inside an IP camera (referred to as edge-based) or on a centralized server. These options provide more effective ways to implement powerful and affordable analytics.
- Greater business intelligence. The options for greater awareness are nearly endless. Using video analytics you can improve marketing, health, safety, productivity, and queue monitoring. It can also help reduce loss.
- Video surveillance analytics improves decision making power. Whereas it may take months of observation and charting otherwise, video surveillance analytics makes a great amount of information clear very quickly. This means for swifter and more effective decision making.
- Improved customer insights. The more you know about your customers, the better you can serve them which results in greater sales. Intelligent video innovations help you understand type, time, and frequency of shopper and how they engage with displays versus those who do not. It also helps to more accurately count shoppers at entrances, and test and compare product placement and displays.
Today, merchandising and loss prevention are largely one tract accessible from one analytics-driven smart security and CCTV system. And this is true for every type and size of store, including large chains and local retailers, convenience stores, grocery stores, restaurants and more.
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