Perspectives

Are You Getting Your Video’s Worth?

Greg Baldauf, VP Strategic Alliances

Small and medium businesses (SMBs) are faced with large challenges year after year. The three main business challenges for SMBs in 2017 are the same as in 2016, but in different order.

  • Improve workforce productivity (2nd in 2016)
  • Attract and retain new customers (3rd in 2016)
  • Improve quality of products and processes (1st in 2016)

On top of these 3 challenges, there is always the matter of security. Call it loss prevention, theft, shoplifting or retail shrinkage, this continually burdens all types of SMB owners. Additionally, statistics indicate every 1 in 11 people is a shoplifter, which is a huge concern for any business owner.

Usually different problems require different solutions. However, with video analytics capabilities today, there’s one solution to solve all those concerns. Video data. By making use of video the right way, SMBs can manage business challenges and security issues easily and efficiently.

As we’ve mentioned before, the #1 sensor is video, and for SMBs this means getting valuable information, which no other standard sensor can provide. Any business owner knows that the more information they have (providing they can actually make sense of it), the better value they can create for customers, and the more effectively they can manage their business.

With the proliferation of surveillance cameras, more and more video data is available for SMBs. The problem however, is that typically, the video from surveillance cameras is either never viewed, or only viewed close to the time of an incident. And in general, the information generated from the video is never realized, data is forgotten, archived (which really means never to be found again), or simply deleted.

If video essentially means data, i.e., valuable information, then why would any business owner ignore it?

SMBs – read my lips:

  • You can increase sales and profit by using video from your already-installed cameras.
  • You can ensure a secure business by quickly applying Video Synopsis.
  • You can gain insights from video data to run your business more efficiently.
  • You can better understand customer behavior, why they do or don’t purchase.
  • You can monitor employee productivity.
  • You can understand optimized product layout.
  • You can count how many customers walk into your business and see what they do.
  • You can optimize your marketing efforts.

And finally, you can sleep better.

Next week, we’ll take a look at whether homeowners are getting their video’s worth from the cameras they install in their homes.