How to Acquire Business Intelligence with Your Surveillance Video
When we think of video surveillance for business, we always tend to think about security and criminal activity. Most people associated this type of surveillance with being able to investigate in the event of criminal activity that may have taken place at the business premises. However, your video surveillance can benefit you in other ways including the acquisition of valuable business intelligence.
Video based business intelligence is opening up many exciting new opportunities for businesses. The content of the surveillance makes it easier for businesses to take steps aimed at helping the company to grow. In this article, I will talk about the software and methods that you can use to benefit from this growing trend.
How video surveillance can help your business
We all know that video surveillance equipment can help businesses when it comes to security and protection. So, how can it also help when it comes to gaining valuable insights that can help to improve the business and boost business growth?
Well, let’s take a look:
Assessing trends: If you run a business such as a retail establishment, your video surveillance analysis can help you to more easily identify trends. For instance, you will be able to determine which areas of your shop tend to attract the most people and how much time customers spend in different areas of the establishment. This will give you a heads up on the types of items that seem to be attracting attention. It also makes it easier to work out things such as the most effective product placement within the store.
Assessing service: With your video surveillance, you can also get a better idea of service levels that are being provided and whether there are any trends that need to be looked at. This makes it easier for you to make changes if and when necessary so that you can boost your service levels to customers and clients. Your data will even give you a better idea of how many staff members you need to have working at any given time without the service levels being affected.
Customer habits: Finally, with this equipment, you can get a far better idea of information such as customer habits, which is something that can prove invaluable when it comes to service improvement, product placement, and overall improvements to your business. You can pick up a surprising amount of information about customer habits and preferences through video surveillance, which is why this has become increasingly important and popular over the past few years.
Tracking customer habits: You can also use the footage from your surveillance camera along with analytical tools to track market trends, which is another way to improve your business. This could include trends such as the business times of the day, the busiest days, whether the certain type of people tend to visit on certain days or at particular times, and more. All of this data can be used to help you improve your business, service, and strategies. You can also look at things such as which types of customers tend to buy what types of products or service from you.
The great thing about this technology is that it lays out the information for you on a plate, and all you need to do is make use of modern analysis tools so that you can make sense of the data. You can then use this to improve your business and plan more effectively.
Gaining information through HD video and analytical software
The popularity of this method of gaining business intelligence has been on the rise for a few years. Some business owners have actually discovered the benefits accidentally while watching surveillance footage for security purposes and then realizing how it gave them valuable business insights. These days, a lot of businesses are using HD surveillance and the best WiFi security cameras coupled with analytical software so that they can record and then analyze the footage to provide them with information that can aid them in improving their business.
This also provides businesses with a cost effective means of assessing trends, monitoring customers, and tracking other important data. With the data that can be gleaned from these surveillance cameras, you will find that you have a wealth of information at your fingertips. This type of information could take up a lot of time, money, and resource to obtain using traditional channels.
However, with surveillance, the information is right there in front of you on a daily basis so all you need to do is use the various analysis tools to make use of it.
The main benefits of using surveillance cameras, footage, and analysis tools for this purposes include:
- A very cost effective solution for businesses
- Minimum resources and time investment required
- Simple to use yet very effective
- Provides you with a wealth of information to aid business improvement
- Can help you with various areas of your business
- A very convenient solution
- Easy and affordable camera installation
These are some of the valuable benefits that have resulted in surveillance video being used for business intelligence by so many businesses.
Make the most of your video footage
Using your video surveillance to gain business intelligence means that you can make the most of your footage. Rather than using it solely for protection and security purposes, you can basically use it as an invaluable research tool. What you discover from the analysis of information on the surveillance footage can help you with everything from improvements in service through to business planning, product choices, staffing levels, the development of marketing strategies, and much more.
In short, you can use the data to identify areas that need improvement and you can see what your business is doing right or wrong. Experts believe that the technology involved will continue to evolve in the near future, which means that more and more companies will turn to video surveillance in order to make improvements. However, if you are using this technology for business improvement and intelligence, you should make this clear to customers with signage so they are clear that the footage is not used solely for security purposes.