Retail Video Analytics
Analyzing
captured video material by using refined algorithms has become a useful tool
for retail managers in order to measure what is influencing the client
experience in their stores.
By doing so,
physical retail locations may well be examined and enhanced in terms of people,
merchandise and engagement.
Comprehensive
information can be collected about specific customer and or employee
experiences and how they are induced. This includes the simple counting of
entrance and exit data, queuing behavior and respective waiting times or the
effectiveness of the customer flow within the store.
Also Video
Analytics helps to identify potential stock-outs and on shelf availability. As
a result this gives the retailer the possibility to anticipate and replace
products on the shelves, which are close to run out soon. This becomes even
more important when the retailer is legally obliged to promotional compliance,
having to ensure maximum
exposure of a certain product to the consumer.
In addition to that, retailers are now able to derive valuable
engagement insights between their customers and personnel. Which parts of the
shop are most frequented? Is the personnel covering all the store area?
What are
the main benefits for retailers?
In order to
make managerial decisions, executives need accurate and reliable information.
Retail Video Analytics is providing the means to drive business decisions that
rely on hard facts. Without the
use of Video Analytics, retailers would have to watch all the recorded footage
to spot insightful information. They maybe would have to hire designated
employees to be able to sight all the material. Now special dashboards are able
to present live metrics form the stores, making additional employees obsolete.
That’s why Video Analytics can hence be the basis for a proactive approach
towards and improved customer experience and loss prevention.
References:
http://www.genetec.com/partners/technology-partner-program/existing-partners/video-analytics-partners
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