By Jackie Andersen, Axis Communications
Retail prides itself on extending the life of assets, but as retailers upgrade to IP video and layer in video content analytics, the cross functionality and benefits added cannot be dismissed.
The most mature analytics currently in use include:
People Counting: While it may seem simple, the information retailers can glean from people counting — such as conversion rates — is extremely valuable. Managers can quantifiably measure people-in vs. sales-out. For a large chain, that means the ability to spot trends and pinpoint underperforming stores.
POS Exception Reporting: Video surveillance integration with POS systems gives retailers more oversight of sales transactions, aiding loss prevention efforts. Comprehensive view and search functions help loss prevention professionals sort POS transactions that are supported with contextual video integration.
Heat Mapping: Multi-colored overlays provide retailers with the ability to identify hot and cold zones visually. These data points tell stores where their customers are going and what areas of the store are getting the most traffic and engagement, This, in turn, can be used to prove ROI for vendors. Additionally, a “cold” zone could indicate an area where traffic is so light that it would be a prime place for someone to go to conceal an item, providing a loss prevention application as well.
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