The power of video is untapped and once realized, it will revolutionize the way businesses operate. According to Forrester, 60% to 73% of all enterprise data goes unused. In this article we will discuss why we believe a large portion of unused data exist within video, and identify use cases in which video analytics can improve your day-to-day operations.
What video analytics can do
With the advancement of modern technology, the amount of insights we can gather from video is incredible. Through the use of video analyzing technologies such as Amazon Rekognition, video footage (archived and real-time) can be used to provide us with facial recognition, demographics, and sentiment data. All of which tell a story about our customers. Imagine being able to analyze video footage and implement solutions real-time based on insights that typically take months to gather. Let’s take a look at some use cases.
Video analytics can improve customer experience
What if you had the ability to identify and engage unsatisfied restaurant patrons in real time? With video analytics tools, you can reuse existing video footage to identify customers who are unhappy or confused. Providing you an opportunity to proactively remediate the situation. This would enable you to increase customer loyalty and decrease the percentage of customers who leave your establishment with a negative sentiment.
Video analytics can improve store layouts
As a store owner, you are always looking for ways to increase revenue and decrease cost. What if you could generate a heat map of foot traffic in your store to help identify the most visited parts of your store? With this information you can easily identify what sections of your store customers spend the most time. As a result, you can augment this data with store sales to identify a correlation between the most visited sections of your store and the highest selling items. With this in mind, you can refine your store layout to optimize sales.
Video is king! Why not leverage your existing video footage to gain powerful insights on how to improve your customer experience and increase revenue. We believe that with the right tools, any business can leverage video analytics to improve their business. Given these points, start finding ways to use video analytics today, before it’s too late.
Looking for more information regarding video analytics and how it can benefit your business? Contact us, we would love to discuss with you.