Video Analytics: What Is It and How Can It Help Your Business?

A video surveillance system is often misunderstood and misused. It is a misconception that every piece of footage that is recorded by a surveillance system is useful and must be analyzed. This type of thinking can add to a company’s security cost and is often not a feasible long-term security solution. This is where video analytics software and video analytics companies play a crucial role in a business’ security needs.

The main purpose of video analytics is to automatically recognize suspicious or unacceptable behavior; the appearance of smoke in the footage, or someone skulking around suspiciously to name a few examples. In a nutshell, video analytics were specially designed to aid the security field for maximum results in identifying and tracking suspicious behavior.

What Is Video Analytics And How Does It Work?

What is video analytics? It is an intelligent video analytics program using sophisticated algorithms to process recorded video footage to monitor situations independently, without the need for human input. How video analytics works are that it simply extracts metadata from raw footage and through machine learning it analyses the footage autonomously. It will then use algorithms put in place to process the content and this allows for the recognition or identification of either people, suspicious behavior or trends, and even read license plates.

Video analytics is also known as VCA, which stands for video content analysis. Video analytics trends are driven by AI-based video analytics which uses deep learning systems for machines to enable them to recognize and analyze raw video footage before alerting humans when it is triggered.

Video Analytics Benefits for a Business

There are many benefits of video analytics, which is why this technology is currently used by retail stores, law enforcement agencies, and every industry in between. Its applications run the gamut from improving service to security.

Object Detection

One of the prime video analytics features is object detection in real-time. This technology was revolutionized by the introduction of algorithms that, through machine learning, have made object detection possible. These algorithms will enable CCTV camera footage to self-analyze and detect objects such as guns, people, vehicles, and suspicious behavior.

Here are the tasks AI video analytics can detect:

• Create restricted zones
• People count and crowd monitoring
• Object detection such as guns, knives, or any other suspicious objects
• Action detection such as loitering or skulking
• Detecting violent or threatening actions
• License plate recognition
• Facial recognition for more advanced video analytics

Once the system was able to detect the object, it then also can track the same object.

Object Tracking

Object tracking is when, through a deep learning process, algorithms are employed to track movements and objects that have previously been detected by video analytics. Object tracking is the video analytics software’s ability to predict the position of certain objects, movements, or people in the footage. Object tracking is intricately linked to object detection since you cannot really have one without the other. A popular application of this type of technology is the use of traffic cameras, as seen below.

Facial Recognition

Facial recognition in video analytics uses biometrics and algorithms to study features and expressions from photos or videos to match an individual in front of the camera to a previously attained image. This practice is highly controversial because of privacy issues; however, it has many applications these days and will continue to grow in popularity, especially in the security and law enforcement arena.

Remote Tracking

Remote tracking is a key feature of AI video analytics, it allows managers and business owners to have more control over their employees and day-to-day business activities. This hands-on approach has grown in recent years with the unfortunate arrival of the Covid-19 pandemic with more and more people working remotely.

Remote tracking runs in the background and follows your employee’s work progress even when they are not in the office. This can significantly aid in business efficiency improvement in a wide range of industries. Remote tracking also plays an important role in security, especially with video analytics in airports, hospitals, schools, and other venues that require a higher level of security solutions.

This feature of AI video analytics software enables the users, especially in the field of security, to be more accurate and responsive in real-time devoid of human errors which may occur when several stations are being monitored by a single individual.

Security Costs Reduction

Security costs are always a great consideration for every business enterprise —  whether a small, medium or large business. Many companies find that the cost of paying a security team to monitor the facility is a heavy financial burden. The AI video analytics market has revolutionized the way business owners and managers view security and the costs involved.

Video analytics trends are increasing because of the cost efficiency and the more accurate results that arise from this new technology. Video analytics can improve security and safety while reducing the financial bottom line invested in security infrastructure for any type of business in any industry.

Business Efficiency Improvement

We live in an information economy and companies are looking toward technology to increase their profits while reducing the bottom line. Nowadays, business owners are laser-focused on business efficiency improvement and AI video analytics offer the solutions for a wide range of businesses in all industries.

For example, businesses will use video analytics software to predict customer needs before they arise to be able to service them in real-time. Video analytics systems are exceptional for security purposes but they can also be an outstanding tool for increasing your business’ revenues in addition to just keeping your facility safe.

Risk Management

Risk management is high on every business owner's priority list because without being able to properly manage your business, safety and profits may decline over time. Deep learning, AI video analytics, and cloud computing have enabled business owners to assess all risks involved in their business venture.

We no longer live in a world where video surveillance is merely used to monitor high-risk areas; rather, there is a growing need to use AI video analytics software beyond just the security realm and use it as an actual tool to increase your business’ efficiency. Intelligent camera systems enable you to have a better understanding of your business's day-to-day operations and will allow your managers to better manage the facilities.

Crimes and Incidents Detection or Prevention

Video analytics software has the capabilities to allow a business to anticipate potential crimes and detect the crimes before they come to fruition allowing for better prevention of said crime. Camera analytics will allow your system to trigger an alarm whenever a risk is in progress to help reduce criminal or illicit activities from happening.

The potential of video analytics coupled with a robust security system can enhance your business’ bottom line significantly in the long run. In addition, this type of system will also allow you to use and access the footage of the incident as evidence when prosecutions occur. When looking at your video analytics you can see a partner who will ensure your facility is always secured.  

Emotion Detection

Video analytics cameras can detect emotion —  this is how much technology has evolved since its genesis. Retail stores are taking advantage of emotion detection to better serve their customer’s needs. This type of technology will assist a business in predicting a customer’s wants and needs in real-time. Video analytics software increases accuracy when it comes to product testing and focus groups to aid marketing teams to develop more efficient products and campaigns to bolster sales and satisfaction.

Video Analytics Business Solutions

Video analytics systems are changing the way we view to commerce. Businesses have an opportunity to improve safety, efficiency, and profits but it is important to understand what type of system would be best suited for your establishment. For example, hospitals don’t have the same video analytics needs as retail stores and vice versa.

It is encouraged to reach out to a professional and consult with them to find out what is the best option for your business when it comes to video analytics solutions. Custom solutions may be a more accurate option than general video analytics software. This must be used as a tool to optimize your potential as a business and surpass your goals.

Conclusion

Now that we know how video analytics works and the wide-ranging benefits it offers to a plethora of industries with intelligent video analytics solutions your business can grow. As we have mentioned above, it is important to know what your business needs are and how AI video analytics can improve your bottom line.

For local businesses in the Chicago area, there is one reliable company that can help you on your way to the full potential of your business - this is Forbel. Do not hesitate to contact us today so that we can help you determine which type of video analytics can help your business rise to new heights.