As a business owner, you know that staying ahead of the curve is essential to your success. You also know that for your business to grow, you must constantly adapt and evolve with the times. That’s why it’s more important than ever to ensure you’re taking advantage of all the latest technological advancements – including actionable video intelligence. In this blog post, we’ll discuss what actionable video intelligence is, how retailers use it to their advantage, and some of the benefits you can expect if you decide to implement it into your business strategy. Keep reading to learn more!
The Development of Video Intelligence
In the video surveillance space, there is a convergence of trends. Artificial intelligence, analytics, machine learning, video compression technology, and bandwidth management are just a few of the technologies that have recently significantly impacted traditional video surveillance system capabilities.
As a result, surveillance systems today are more intelligent, faster, and multi-dimensional than just a few years ago. It’s safe to say that video surveillance has evolved from an after-the-fact investigative tool, such as identifying a bank robber, to a transformational, dynamic solution that allows for real-time information and decision-making.
This ability to acquire information and then use that knowledge to make real-time judgments, known as actionable video intelligence, is transforming the way surveillance systems are employed. This information is helpful for retailers since it can significantly impact business operations, allowing retailers to immediately pivot to remedy an issue or improve performance.
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Critical, Real-time Notifications
As organized crime and active shooter scenarios become more common, merchants must be prepared to respond promptly to a crisis as it arises. It is no longer sufficient to have a surveillance system in place that can positively identify a shoplifter. Today’s merchants must implement actionable technology that can be easily integrated into a video management system. Gunshot detection technology, which can “hear” when a person fires a gun and immediately enable specific security measures to be put in place, or facial recognition technology, which can recognize a known shoplifter and then alert a specific surveillance camera to monitor that person closely, are two examples of this.
Market Research
By tracking consumer movement to determine which goods displays perform best or by utilizing dwell time technologies to pinpoint areas where customers spend more time, it is possible to gather knowledge that can lead to beneficial change. When deciding to alter a display or move a product to a different area of the shop, store managers can use this data as a guide. These are all practical actions that could increase revenue.
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Deeper Investigations
Professionals in loss prevention can see problems that may be bigger than they first appear by using analytical data from surveillance. For instance, analytical information connected to a point-of-sale system may show that a specific cashier’s drawer is frequently understocked. The surveillance system could then be instructed to follow that employee around the store in order to identify any additional potential issues, such as whether or not that employee may be connected to other instances of missing goods or an organized crime ring. As a result, actionable video intelligence can help to make our communities more secure.
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Downsides of Actionable Video Intelligence
While actionable video intelligence can be extremely helpful in various situations, there are also some potential drawbacks to using this technology. One of the most significant challenges is that actionable video intelligence requires a high degree of accuracy to be effective. If the technology cannot correctly identify a potential threat, it could lead to false alarms or missed threats. Additionally, actionable video intelligence technology is often costly, which can make it cost-prohibitive for many businesses and organizations. Finally, because actionable video intelligence relies on artificial intelligence technology, there is always the potential for human error. Despite these challenges, actionable video intelligence technology can be an extremely valuable tool for both businesses and individuals.
Privacy Concerns with Video Intelligence
There are some privacy concerns associated with video intelligence technology, as it involves the analysis of people’s faces and other personal data. Business owners who are considering using AVI should take steps to ensure that the data is collected and used in a way that respects the privacy of those involved. Here are some tips for doing just that:
- Inform people that they are being recorded. If people know that they are being recorded, they will be less likely to act out or say things that they wouldn’t want to be made public. However, even if people are aware that they are being recorded, it’s important to ensure that they understand how their data will be used and who will have access to it. Be transparent about your intentions for using AVI and let people know that their privacy will be respected.
- Keep the footage secure. Any time you collect sensitive data, it’s important to take steps to keep it secure. This means storing the footage in a secure location and ensuring that only authorized personnel have access to it. If you’re collecting AVI for marketing purposes, consider working with a marketing firm that specializes in collecting and analyzing this type of data. These firms typically have security measures in place to protect the footage and ensure that it’s used appropriately.
- Use AVI for its intended purpose only. It’s important to use AVI only for its intended purpose—which is usually to gain insights into customer behavior. Do not use AVI for any other purpose, such as surveillance or security. This will not only erode trust with your customers, but it could also lead to legal trouble if footage of people is used without their consent.
- Destroy footage after it’s no longer needed. Once you’ve analyzed the footage and extracted the information you need, destroy the physical copies of the footage. This will ensure that no one can access the footage without your consent and prevent it from falling into the wrong hands.
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Using Actionable Video Intelligence
Overall, actionable video intelligence is a powerful tool that can be used for a variety of purposes. With its many benefits and potential uses, it is likely that this technology will continue to grow in popularity in the years to come.
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Last Updated on January 20, 2023 by Josh Mahan
