Since the data boom businesses have been looking for new ways in which to collect the reams of data available to assist their decision-making
This includes revolutionary tactics such as data patterns and trend spotting.
In many cases, there is a lack of collaboration between a company’s IT department that will analyse data, and those with real business insight who want to use it. It’s important that companies look for new forms of data with which to create actionable results. This is a shift that we are already seeing and is going to continue throughout the year as businesses maintain their data education and practise.
The next step in data collection is the use of video as a way of gathering information and analysing the state of the business via information from the physical world, and where in the workplace improvements can be made.
For the rest of this year, we expect to see a collation of video-related solutions used by way of analysing and correcting business practices.
The application of video has no ceiling. Companies like Ikea are now experimenting with the use of direct analytics software within camera technologies.
These industry leaders are beginning to use video and cameras as a primary data collection resource in order to action real-world results. Cameras give businesses the ability to analyse how customers are experiencing the space around shop floor, the section of a warehouse that is being under-utilized, and how people interact differently with in different spaces.
Whilst this may sound like an obvious step, the use of video analytics on a shop floor is only just starting to become common practice and will allow a store manager to recognise where and how they can increase store traffic and ultimately sales. However, it is not only the feed that can allow users to gain actionable data. The camera has built-in analytics-measuring software that automatically sends data to a dashboard, or alerts an employee to take action.
The use of cameras in a warehouse will provide real-world evidence of areas not being properly utilised for storage, adherence to health & safety guidelines, workforce management and saving businesses money in both the short-term and the long-term.
The use of video is becoming vital to businesses ensuring that supply chain management is optimised. The use of cameras in supply chain management can evoke transparency throughout the process and go a long way to avoiding mistakes. With renewed technology health and safety standards, whilst also having the ability to provide business intelligence, it’s a surprise that it has not been adopted sooner.
AI has been a giant influence on almost every sector of the tech industry. This is no different in the world of video. Understanding heat maps, recognising behaviour and analysing body language are just a few ways that artificial intelligence systems are being applied to data from the physical world.
The combination of real-time video analytics and artificial intelligence allows for automated analysis using intelligent software. This application allows for large quantities of real-world observational data to become a fully-functioning business intelligence resource. If there were to be any disruptions within the flow of the business or any changing patterns, then the AI will automatically alert users of the software and allow business changes to be made in good time.
Rise of connected devices
The Internet-of-Things (IoT) has been a major trend for the past few years in many industries. As we go through 2019, there will continue to be a trend towards integrating sensors of all kinds into the network. The collection and analysis of the data collected by the sensors will give rise to a plethora of applications such as intelligent building management, smart cities, etc. The physical security will benefit by having additional intelligence for situational awareness and emergency management as well as opportunities to provide additional value-added services.
Machine learning and artificial intelligence (AI)-enabled devices. Software manufacturers are looking toward machine learning and AI to help propel advanced analytics in an effort to deliver more situational awareness to operators and an increased ability to proactively assess threats. While video and data analytic capabilities have been around for quite some time, some would argue they were rudimentary in comparison to software that uses AI and machine learning to make existing applications such as facial recognition much more accurate and to create new ways to detect anomalies. In addition, AI/machine learning will increasingly be used to make sense of the large amounts of data that are being generated by intelligent sensors and by analyzing the growing amount of video.
The transparency and ease of innovative video software is insurmountable in its application potential. Technology giants such as IBM are using new developments in AI and Video Analytics as a way of building intelligent software that allows for deeper insights. Intelligent Video Analytics analyses live video streams to quickly identify potential issues and anomalies. It has the ability to automate almost every aspect of the business process, allowing for human override and interaction to ensure quality control. Will this be the year that businesses from warehouses to retail units, from schools to transport stations begin to truly take advantages of its capabilities in managing people, spaces, and assets to best effect.
About the Author
Richard Morgans, CMO at ONVU Technologies. ONVU Technologies is a privately held group, and through annual investment in R&D, talent acquisition and forming partnerships, its subsidiaries deliver video and data led technology solutions for global customers that enable them to make informed business choices across diverse market sectors.