How to Optimize the 2021 Holiday Retail Season with Video Analytics?

 

Description: even with the surge in service and product prices due to the COVID-19 pandemic, there are still regular footfalls of consumers stocking up on essential items to manage the immediate demand and future uncertainty. However for the retail sector it has been taxing to assuage the customers of sufficient availability as long queues are often seen outside most shopping malls.

So as most parts of the world get back to normal while others struggle to contain infections, how best can the retail units and sector generally optimize the holiday season with the best of video analytics? Let’s see some strategic ways adopting video analytics is actually very helpful.    

Ways Video Analytics Helps to Optimize the 2021 Holiday Season

Identify genuine and fake customers

Several retail store footfalls don’t necessarily translate into real sales figures or genuine customers. Indicative potential can be translated into real sales with the use of video analytics software applications. This is possible as analytics studies customer behaviour and dedicates better ways to guide and monitor their shopping habits, product choices and preferences.

Boost product and floor security

Security is fundamental to managing and translating floor and product safety. When there are suspicious customer actions, inconsistent traits and behaviours video analytics helps to figure out what is consistent and what is not. That’s helps to boost the safety and security of product and be able to monitor the entire retail store floor actions.

Enhance customer or client conversion rates

Conversion rates are essential and crucial to business growth. For they mean even when a customer didn’t have the intention to buy anything but with proper customer study they can be turned into real customers. Target specific marketing studies how customers behave and conduct themselves while in the store with the help video analytics data. The collected information gives clues and ideas on how to convert visitors to genuine buyers.

Improve employee efficiency and productivity

Employees are at all times to be productive and efficient in their duty and assignments. They must create and produce results that propel the business forward. The adoption of video analytics adds a better way and approach to track employees consistently. Efficiency impacts and improves overall productivity. Productivity will naturally affect the bottom lines and ROI of any business or organization.

Helps customers in need of specific product selections

Retail stores are expansive, detailed and broad in product display that perhaps initially customers may find it difficult to locate specific goods. Some customers want fairly easy to locate and access products which reduces their overall time spent in search of specific products. Analytics keeps a detailed retail outlet floor plan or outlay. That means specific goods and products are easy and fast to identify or locate.

Advise customers on specific preferences and choices

Sometimes there are several products that customers have no interest in at all. Video analytics follows and tracks the shopping behaviour of clients to ascertain what attracts and captures their attention the most. It is also helpful in knowing the types of goods that the clients have shown more interest in compared to the rest. This makes it able to send them alerts whenever new stocks arrive or new offers are available.

Eliminates Pilferage and Product Loss

Pilferage can prove costly for the business in the short and long run. This can be eliminated with the best video analytics applications and software that tack and monitor all the activity in the store 24/7, 365. The minute losses can slowly add up to colossal figures if not tracked and stopped in time.

Improve customer care and treatment by employees

Customers are the very reason businesses operate, function and grow. Making customers a priority means giving better customer care services as well as overall treatment by the employees. Employees must recognize the value each customer adds to the business’ success and survival in a competitive market space. 

Summary

With the retail holiday season picking up the pieces and getting back to normalcy post COVID-19, Video Analytics Companies in India recognise its valuable inputs for the retail season ahead. For the retail outlets adding video analytics is a sure way to boost and optimise the holiday retail shopping season.

Artificial Intelligence That Delivers Actionable Results

Experts refer to Artificial Intelligence and ML as the most important general-purpose technology of our era. Machines continuously are evolving and perform with accuracy without the intervention of humans. 

The intersection of technology and business is a big challenge for many organizations. In order to become data-driven, companies must be willing to adapt artificial intelligence. 

AI is an elusive and misunderstood technology most of the time, but now analytics have become an integral part of any organization to function successfully. Hence, an amalgamation of data analytics and AI is a good way to start the journey. 

Data to Analytics to AI 

There has been a gradual evolution in analytics, ranging from descriptive to diagnostic to predictive, and culminating with prescriptive as per Gartner. The most organization is at the descriptive stage of analytics still using the traditional BI approaches to gather the data and use visualization to get quick views on what has happened.

Diagnostic analytics is about finding out the reason behind an event occurs for which the techniques used are drill-down, data discovery, data mining, and correlations.

In order to dig deeper to understand the reason, experts try to use predictive analysis for projection. Typically the existing data was used to train predictive machine learning (ML), which has to lead us to Artificial Intelligence now.

Whether you have to make predictions using AI ingrained into ML or having analytics in place is a prerequisite. 

AI solutions have been evolved long before the concept of analytics. An expert system is one of the examples of AI, which is used in various domains, such as medicine and agriculture by the organization. However, AI has evolved with time where the traditional AI were knowledge-based that require assembly and curation by an expert and treated as a single version of the truth.

Today, where there are abundant data sources with varying degrees of reliability, the sources may contradict, and the size & ingestion rate also differ on levels. The global market for data analytics has been predicted to exhibit a CAGR of 30.08% between 2017-2023 to surpass a valuation of USD 77.64 billion. 

Due to the increased ability to use statistical algorithms and machine learning techniques, the increased generation of data can deliver actionable results for businesses. Information is no longer the powerful as data analysis, use of data, and digging into it has become powerful. 

Taking from the perspective of business, data analytics can be used to increase revenue, respond to emerging trends, improve operational efficiency, and optimize marketing to create a competitive advantage.

 Structuring the Data 

One of the biggest challenges faced by any organization in the field of analytics is the analysis of the data sources. As data sources differ, the requirement for manual data cleansing before analysis. Studies show that this process of data preparation takes around 80% of the average analyst's time. 

Additionally, the information generated has no formal structure, contracts, surveys, and emails, which has a lot of information to extract from, that analysts can use to uncover opportunities. 

In order to unlock the opportunities, often involvement of external consultants is asked. As a result, businesses would need an 'opportunity cost', which is often restricted for the adoption of data analytics or business intelligence platforms. Hence here is where analytics can come in to assist.

After the emergence of machine learning, text analytics has advanced to a level where you can explore large numbers of interrelated features, bringing structure and clarity to documents and data. 

Performing the Analysis 

Deep Learning has raised the potential solution to automatically extract meaningful patterns from large sets of data for decision making. The key here to define and understand the goals of your analysis. The prescribed rules with logic and decisions are still invaluable that uncovers meaningful opportunities for the users to comprehend the origin of the information.

Linking the data with video analytics companies in India, specialized in a single pursuit and with the focus on the problem you are trying to resolve so that you can get consistent insights into the most relevant opportunities for the business. The collaboration can also help in uncovering the unique perspective that working by yourself might be difficult. 

To Conclude -

Businesses will have to follow the chain of evolution in analytics from descriptive and diagnostic to predictive and finally to prescriptive. Machine learning tools will give a clear picture of project understanding and its goals. Partnering with an analytics service provider can be advantageous. The direct link can help you focus on the problems and try to solve them immediately.

 

 

Video Analytics: The Next-Gen Safety and Security Solution

The utilization of video surveillance and video analytics in industries is scaling as computers and devices are connected with the internet most of the time. Hence security becomes far more critical to consider here.

It's undeniable that computers have more complex and robust as compared to the past, as they have to store and process large datasets. Today, the omnipresence of computing is racing towards a new paradigm.

These computers are connected with devices like TV, surveillance, cameras, smart speakers, and locks through the internet, thus requiring monitoring and security. 

The integration of video monitoring to critical industrial applications is possible for organizations. Features like inexpensive high-definition video, advanced technologies, computing power, and high-speed IP presents the variance between security and safety. 

A video analytics software here comes into the picture. This software makes surveillance systems more efficient and realistic for leaders, managers, and security officers. 

Video Analytics Solution is driven by the need for safety and security, with global revenue reaching $4.5 billion in 2025, as per Tractica.

How does Video Analytics Work?

Video Analytics reconstructs the video IP into business intelligence. Through current surveillance infrastructure, video analytics can reduce costs to augment security with new detection capabilities, reduce staffing requirements by automating access control, key events, and other facility functions, and collect data on customer behavior.

When used to monitor real-time events, CCTV operators struggle to remain alert to view all the footage. 98% of video footage is not seen by anyone, which is known to most criminals. Thus, a public safety solution, such as routing towards video analytics, will provide more accuracy and relevancy, which safety agencies can leverage. 

Encouraging Long-Term Safety And Security Through Video Analytics

The agencies can pair their surveillance devices with automated analysis to get effective results. 

However, the agencies need to -

• Develop a strategy
• Find ways to partner and interact

• Cable their technology
• Draw a dynamic, multi-layered approach

Developing Strategies 

When surveyed, it was found out that 83% out of which means 8 out of 10 citizens are convinced of the idea of police or organizations using digital technologies to monitor crimes. Here video analytics can prove to benefit by improving situational awareness, providing tactical information feeds, and conducting real-time assessments.

Video analytics and camera together are useful training tools aiding to prepare officers and improve the quality of service by giving a comprehensive view of the incidents and interactions. Hence, companies must engage in developing strategy, taking specific operational needs, and demands into account. The effectiveness of the strategy should allow assessment of the implications and pragmatic around the storage and management of video data.

Partnership and Interactive

Public safety organizations require a robust technology solution for working collaboratively as well as gain greater intelligence, which can be obtained through the capable resources provided by private organizations. Hence, many video analytics companies in India have collaborated with governmental bodies in order to pilot a safe & reliable solution. This way the government can integrate public safety video information and produce meaningful insights in real-time.

To take advantage of the implementation support of video analytics solutions, you must interact and partner with the private sector. VideoAnalytics service providers can allow you to access their network and benefit from their resources for editing and packaging of CCTV footage for public safety agencies. 

Cable Their Technology by Adopting Flexibility

For accuracy, the video analytics algorithm requires regular updating. As time pass by, the algorithms become less effective due to new and advanced technology. 

Computing solutions such as the cloud can be taken into consideration as it offers a vast amount of storage options, unlike traditional storage solutions. When used effectively, the cloud can reduce cost and provide additional alerts when combined with CCTV and video analytics. 

Hence, organizations should adopt an integrated and component-based solution. Adopting flexible platforms, such as cloud-based storage, can give you leverage to take advantage of the best technology at a reduced cost.

Adopt a Dynamic, Multi-layered Approach

Since video analytics algorithms are ever-changing with technology, the solution is dynamic with a combination of inputs. Mons police in Belgium were able to detect and evaluate more incidents and anomalies during the opening ceremony celebration of the cultural capital of Europe, which was achieved with the help of a machine-based system that acted as a supplement to the resources of public safety workforces. 

The public safety agencies need to serve better safety and security demands of their local communities, as the sources of footage have enhanced such as CCTV, private sector videos, mobile CCTV and body-worn cameras, as well as video evidence filmed by the public on their mobile phones. 

Hence, for real-time decision making, you can use video analytics services to combine diverse footage gained from multiple sources. This will also give new breadth and depth to public safety information.

To Conclude -

Video Analytics is capable of analyzing, alerting, and reporting on CCTV footage. Video Analytics solution can deliver improved results of the after-incident analysis. It can monitor multiple cameras constantly, eradicating the errors appearing through manual intervention.

Immense improvements have been made in the algorithm for accuracy of both video and biometric analysis, and we expect the same in the future.

How to Prevent and Monitor Traffic Violations with Video Analytics

Traffic violations and video analytics are inseparable in modern traffic management. As the number of automobiles rise on a daily basis sometimes it’s near impossible to keep track/monitor or follow, manage, prevent even the very basic traffic offences.
 

And so with Next-Generation Video Analytics India applications are undeniably redefining and shaping how modern traffic management is done and achieved with least number of traffic violations. Yet it begs the question, how do you prevent and monitor traffic violations with video analytics data in real-time. Let us discover below.

Basic Preventions in Traffic Violations with Video Analytics

1. Major Traffic Issues Solved With Video Analytics.
2. Solving Potential Traffic Collisions
3. Preventing Accidents
4. High Traffic Congestions
5. Parking in Public Places and Spaces
6. Fast and Efficient Toll Booth Operations

Ways to Monitor and Prevent Traffic Violations with Video Analytics

1. Enhance Communication for Better Response Coordination

Adapting traffic control systems from several organizations relies on the phone for communication for matters of security and urgency. The modern traffic control systems, however, resolve these issues through consolidated data on unified platforms.

2. Real-Time Capacity to Track Traffic Violations and Issue Instant Fines

With video data streamed into the platform in real-time, authorities can view vehicles that violate traffic rules, and playback footage to verify the exact violations and review traffic statistics at peak demand
times. Integration with third-party ‘ticketing’ systems send automated fines and other penalties to vehicle owners via email, SMS, or traditional mail.

3. Intelligent Technology Integration for Low Traffic Congestion

Is maximizing of road safety and helping lower traffic congestion is an achievable aspiration? Yes. How? Intelligent technology integration by adapting cameras, velocity radars, servers, and control room
infrastructure together avails real-time traffic incident views across the road networks. Iy also helps to speed up response times dramatically.

4. Integrated Systems with Deep Learning Technology

Integrate systems with deep learning technology to detect several additional traffic violations. Besides detecting speed rule violations, it is also possible to determine whether drivers are wearing safety seatbelts or not from distance.

Through recognition of vehicle license plates, it is possible to support local traffic and law enforcement authorities to detect stolen vehicles and affirm that right registered vehicles travel on highways and urban streets through the determination of vehicle attributes.

5. Track and Detect Lane Violations, Illegal U-turns and Wrong-Lane Driving

Traditional intersection monitor solutions focus on violation of red lights rules through cross-referencing license plate information with traffic light status. However, integrating lane properties to detect and respond to the abuse of lane rules, illegal U-turns, wrong-way driving, and other traffic violations cause accidents and delays.

6. Illegal Parking Tracking and Detection

Reliable tracking and detection of vehicles and recording of their license plates mean traffic violation tracking and detection solutions that address the hardship using illegal parking detection cameras. The
cameras avail 4-megapixel video images in worst low-light conditions. Traffic cameras reliably track and detect vehicles and capture license plates after entering the pre-defined illegal parking zones on highways and urban streets.

Illegal parking detection cameras help implement rules that allow parking only at certain times of day, or for short periods. That makes the cameras the best choice for town car parks, parking bays on high
streets, airport pick-up bays, .etc

.

7. Follow and Enforce Illegal Public Parking Rules

Illegal parking presents difficulties in road safety and traffic congestion. Besides, inconvenience or danger to cyclists and pedestrians who have to pass by badly parked vehicles.

8. Monitor Driving Actions and Behaviours

Traffic violations are both dangerous for motorists, cyclists and pedestrians and slow down traffic and cause long delays. The solutions help to track driving behaviour and actions and reduce the risks of
accidents and speed up traffic flow.

9. Improve Traffic Control Systems with Smart Technology

Integrating video analytics into traffic control systems and monitors gives clear pictures of what’s happening in real-time. Prevents road accidents, road congestions, traffic slowdowns, and other traffic
violations are detected or traced in advance with step-by-step on- screen guidance to follow standard operating procedures.

They also act as intelligent transportation systems designed to reduce workload and confusion by breaking down silos of the data coming in from multiple sources for interpretation. That means faster response times overall, prompt road clearance and safe and smooth overall driving experience for commuters.

10. Follow Video Database Analysis of Traffic Trends and Patterns

Analyzing and studying the traffic violation video trends over time creates a pattern and usable database for proactive and effective traffic control, prevention and monitoring. With the best of Video Analytics
Software India creating coherent patterns and trends is possible.

Summary

In a modern world overwhelmed by traffic control, management and monitoring at every level, Video Analytics Applications India solutions are the ultimate catalyst to seamless and flawless management,
prevention and monitoring of traffic violations in real-time.