Video Analytics is a Powerful Tool But How Do You Make Sure You Do It Right

Definition: The global impact of COVID-19 is staggering and unprecedented, with video analytics experiencing a positive demand across all regions in the course of the pandemic. This market is expected to grow from the current $3,357.2 million in 2020 to $13,001.7 million by 2027, with a CGRA of 21.3% between 2020 and 2027. The Next-Generation Video Analytics in India has experienced strong market growth, spurred by the retail sector's growth and the rapid changes expected in the ICT sector in the coming years.

Detailed Analysis of Video Analytics Usage and Adaptation

Research registers that by 2021 there will be nearly 1.9 billion video internet users, up from 1.4 billion in 2016. Internet users around the world will watch 3 trillion minutes of video per month by 2021.

With such an increase in video traffic, the role of video analytics is more important than ever.

Videos established their role as essential and critical technology during the COVID-19 crisis. This function has been tested at every video conference, virtual performance, telehealth or telemedicine appointment, and telescience. This growing role of video in business has also paved the way for better data analysis by working on photographs and video data, with the ultimate goal of providing efficient Visual Intelligence.

Video use cases in the industry include:

-Monitoring Hospital Assets and Vital Installations.

-Monitoring the Use of Buildings, Workspaces, and Warehouses.

-Thermal Imaging to Detect Fever and Diseases

-Monitoring of Methane Leaks.

-Animal health surveillance and counting.

Video analytics can also help in knowing and tracking:

-Crowd Behaviour, Motives and Intentions

-Develop Valuable Insights on Employee Productivity

-Create Intelligence Records

-Ascertain Duration of Task Completion

-Make Decision Automation for Visual Data

Using video and the development of artificial intelligence (AI) and machine learning automation to help make decisions and also make decision-making time faster and more efficient, provided that organizations adhere to best-practice privacy standards.

Video Analytics-How Do You Make Sure You Do It Right

For organizations that are considering the extensive use of Video Analytics, the first step is to identify a group of problems they want to solve with video. It is highly recommended that you use the cluster problem approach to develop a solid business case. The ideal number is to identify three different initial projects for sensor and video networks.

The biggest roadblock for companies to use Video Analytics Software is the limited network of integrators available. That implies in-house integration is a must and a major requirement. 

These three suggestions can help businesses looking to expand their use of videos and analytics applications and capabilities:

Consider the Larger Image of the Company

It is good to identify several business examples than just one for video analysis. Although this may contradict what was the historical wisdom of analysis (beginning with small business cases), videos can become a viable and valuable strategy as an investment in video, networking, and bandwidth can be substantially increased. It�s possible to adopt and adapt the property for several applications both today and in the future.

Develop your Privacy Policy before Deploying Videos

Zoom's recent privacy debacle during the COVID-19 crisis is one example. Zoom used personal information to target advertisements on or off the platform or for other business purposes.  These  Top of  9 Best Video Analytics Tools can give you  Deliver Optimum Solutions For Growing your Business Research uncovers that consumer complaints have led to tightening of Zoom's privacy policy so that customer content cannot be used for advertising purposes. The video is only stored at the user's request, and the company does not access it.

Therefore the message is clear: While the cases and purposes of commercial use vary widely, organizations must develop their privacy policies in conjunction with the technology they plan to apply.

Use Automation, but with Human Controls

Automation and machine learning are great tools for video and analytics, but they're entirely complete. Human experts must be the second line of review for critical judgments to ensure that all the data conclusions are accurate.

By following these precautions early in your journey with video analytics, you can expect excellent and insightful results that will propel your business to the next level of business acumen.

Summary

 Video Analytics is a powerful tool, for businesses and organizations today.  Analytics not only allows the creation of video marketing campaigns based on data and supported videos but also brings faster brand visibility.

It is also easy to optimize what you do not measure. It provides valuable data on key performance metrics over a period to help make the right decisions. With analytical tools that give all kinds of acumens, information is at your disposal to understand the interests and behaviour of your potential customers online and identify new opportunities.