Today’s video surveillance technology is capable of providing more detail and greater insight than ever before. And for end users in the retail, banking and hospitality industries especially, surveillance is now providing information on consumer behavior and traffic patterns that is enabling better customer service, more effective marketing and merchandising efforts, and more. Welcome to the age of video business intelligence.
Modern video analytics technology provides end users incredible insight into their businesses, simply by using their existing surveillance infrastructure. By analyzing customer traffic patterns and other behaviors, video business intelligence can help retail and banking end users determine:
- How many customers enter a location
- Each location’s peak hours and days
- How many employees they should schedule to meet customer demand
- The most popular areas or merchandise in the store
- How long customers wait in line
These insights can help banks and retailers respond in real-time, for example, when additional tellers or cashiers are needed to deal with long queues.
Today’s banking and retail markets are incredibly competitive. In our age of online shopping and virtual banking, it’s especially important for companies to differentiate themselves from the competition. Brick-and-mortar locations are uniquely positioned to set themselves apart by offering outstanding face-to-face customer service. Video business intelligence can help establish a business as a leader in customer service, quick check-out and intuitive merchandising.
By being attentive to each location’s peak hours, wait time and other information, an end user is more likely to retain customers for years to come. After all, most customers who experience poor customer service or excessive wait times will likely go to another store or bank. On the other hand, customers who can easily find what they’re looking for and are able to check out quickly are more likely to become customers for life.
Video business intelligence is just the latest step in the evolution of surveillance. Today, the technology doesn’t only provide safety and security for employees and customers; it also helps to set businesses apart from their competition by offering improved service and support. With the right video surveillance technology, everyone wins.