May 26 2009 - Feature
Converting Analytics' Cool Factor Into Cash
You've heard about it and possibly witnessed a demo, but until this point you've probably relegated video analytics to the realm of novelty. Find out why a leading expert in the potentially transformative technology says content analysis is now ready to be taken as seriously as a heart attack.
By Scott Goldfine
Exploiting the Value Proposition
Speaking of value, are there specific measurable results you've seen achieved?
Jackson: Absolutely, we've achieved real ROI [return on investment] on several fronts. One of our major airport customers that implemented counter-flow video analytics was able to reduce its personnel resources used to man security exits and achieve substantial savings. Also in transportation, we've had a tollway customer that experienced significant savings by using stopped vehicle detection analytics to alert upon disabled vehicles sooner, improving traffic flow and revenue.
A major utility used intrusion detection analytics to automatically monitor and protect its numerous remote facilities, significantly reducing the personnel time and cost required to monitor these sites and helping to prevent theft. On the gaming front, our automated table game management system has caught real cases of dealers paying players for losing hands, which in at least one case may result in charges against the dealer involved.
Are there any other examples of ROI that can be achieved through content analytics?
Jackson: There are many. For example, as mentioned earlier people counting analytics can be implemented within retail establishments to track marketing trends. Knowing the number of people who go down certain aisles or by certain displays allows the retailer to sell displays placed at certain locations at a higher rate.
This concept can also be applied to retail space. For example, an airport concourse might sell retail space, using crowd detection or people counting to determine prime locations. You can determine where the hot spots are and price those at a premium rate.
Moving back to the security side of the house, can you sum up the benefits from that perspective?
Jackson: An end user is not likely to directly make money on security. However, analytics bring gains in effectiveness and efficiency of the security function that have certainly has an impact on an enterprise's bottom line.
These solutions allow customers to become more effective with their personnel by simply not having to have them watch every single camera. The content analytics acts like a filter. It reduces the mass of data down to something that's more manageable.
5 Questions to Ask an Analytics Provider
By Eric Eaton
1. What are my costs to deploy the analytic system?
The time and labor costs involved in setting up a video analytic system can vary a great deal depending upon what you are trying to do. Setup time can really eat into your profit margins, so make sure you understand your total cost of deployment before entering into a contract to deploy a particular product.
2. Do I have the resources I need to resolve problems after deployment?
Make yourself aware of the typical time needed to make follow-up tuning visits, and the causes for those visits. For example, it might cost significantly less to move a light fixture than to retune an analytic system. This type of knowledge and expertise can help your organization control costs and maximize profitability.
3. How does this analytic fit into the mission or value proposition of my customer?
Work with the analytics provider during planning stages to make sure you have a strategy for each customer's environment. Different environments might need different analytics, so don't assume that what works in one environment will work in another.
4. How will we handle the output of the video analytic?
Make sure you understand what the output of an analytic will be, and how much output will be received. Often, the analytic output (usually alerts) will need to be managed carefully, so be sure to set your customer's expectations accurately regarding this important step of tuning alert output.
5. What changes can I make to my deployment plans to maximize the value of the analytic system?
Small changes can make big differences. If you are open to changing parts of your deployment offerings, you can increase the value of a current or future analytic system. Talk to your analytics provider about the entire infrastructure you intended to deploy to brainstorm possibilities.
Eric Eaton is chief technology officer for Houston-based BRS Labs.