Why does your business have a video security system? The answer is so obvious that the question seems overly simplistic. Simply put, the security system helps in the case of an emergency, theft, or otherwise proof that something occurred. However, what if your business security system could be used for more? On average, only 10% of security footage information is ever used. With the right data analytics, your company may be able to turn that 10% to 100%, creating meaningful data that will help improve your business performance and turn a cost into a profit generating feature.
A Changing Technology
For the longest time, security footage was only ever used for security reasons. Along with serving the primary focus, low quality videos resulted in relatively little use for the remaining data. However, as camera quality goes from 720p to 4k and beyond, the quality of the picture is good enough to use the data for non-security applications. Allowing the data to be re-purposed for other means, it represents an exciting way to take existing information and improve your business advantage as a result.
There are several other reasons why the technology hasn’t been used in this way that are now changing. For example, security systems can be notoriously expensive to set up and integrate into your business. The cost can be prohibitive and is now driving the use of data analytics to help offset the cost. Another reason for the data not being used was that there wasn’t a decent analytics company that worked with security video footage. Both of these things have changed allowing for exciting new possibilities.
What Your Video Surveillance System Can Do
The goal is to get as close to 100% utilization of the data as possible. Data analytics can help to improve the security features of your business helping to reduce breaches and other wasteful security features. It can also be used to help enforce safety and health regulations, helping to ensure that your employees are keeping to necessary and safe practices.
Video analytics can go even further when re-purposed for business use. For example, a camera with the analytical software built in can self select video for particular reasons and send it to the right person who can make decisions. A simple way the video analytics can help is by monitoring utility bills and identifying patterns in customer activity. For example, finding hot spots and identifying possible road blocks to user experience can improve sales. There is so much potential to a technology that is still only in its infancy.
A Company To Consider
Video quality has moved beyond the needs of security and has become a tool utilized by business professionals to further explore data analytics. Recognizing the potential in security footage is Bosch. The first company that has integrated features like intelligent portfolio, Mace has cameras like the IP 4000 that can be used for countless other features. The business model is to provide the company with the ability to properly access their footage and then allow businesses to use that data to improve their overall performance.
There are a few limitations to the technology worth considering. The first and possibly most important is holding the data. Multiple high quality videos will quickly eat up available storage space, resulting in additional costs for storage. While cloud based storage provides less expensive options for companies, there is still the added cost that will have to be addressed. Possible solutions include better compression technology.
Another limitation is the imagination. Being a new way to analyze data, there are countless possibilities that have yet to be fully explored. While this offers a lot of potential, there is not that many uses already clearly defined. This will mean that many people using the technology will have to get creative.
Either way, what keeps the industry moving forward is the possible saving associated with the use of the video data analytics. Offering even more data in which a company can use to increase performance, it is only a matter of time before you will be better utilizing your security data. Until then, keep an ear open to the field as it continues to expand and move into new and exciting avenues.