In the retail world, video analytics have been slow to catch on. A few years ago, video analytics were hailed as the definitive solution for realtors that would provide them with all the information they needed through a simple plug and play format. While this never came to pass, video analytics technology has improved significantly in the past few years, and has reached the point where an integrated system can provide realtors with many of the benefits that they were looking for several years ago. Following are some factors for realtors to consider when selecting a video analytics solutions.
Finding an experienced supplier and installing company for a video analytics program is one of the most important steps you can take toward the successful implementation of video analytics. Experience not only speaks to the skills of the company, but also to its longevity in the future. Choosing a company with which you can have a long-lasting relationship enables you to take advantage of new technology as it becomes available.
The two most common applications for video analytics in retail are loss prevention and sales/merchandising. Analytics can be used to prevent loss prevention both internal and external. Often, the presence alone of video cameras in a store reduces loss on both ends. Analytics can also be used to monitor the shopping habits of customers and place merchandise accordingly.
Integration with point-of-sale systems is another benefit offered by video analytics. Analytics can help with exception reporting in order to determine if a transaction was valid or fraudulent. Fraudulent transactions often are a marker of internal theft, which can be reduced using this kind of integration.
Different systems may be required depending on your goals. A camera with a direct line of sight is useful for deterring fraudulent transactions at the register, while a camera with a wide-angle lens can cover a larger area and effectively keep tabs on customer shopping habits.
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