CCTV which stands for Closed Circuit Television is a system of security cameras all linked to one monitoring system. Since CCTV systems are now gaining popularity in the country and becoming more affordable, businesses can feel more comfortable knowing they can secure their businesses, homes and other properties. These days, businesses are using CCTV to do more than just catching thieves and monitoring employee activities. Through the continuous advancement in technology, the visual information extracted from CCTV has proved to be valuable to sales and operations through the use of business intelligence.
So what is business intelligence then?
By definition, it is a data analysis process aimed at boosting business performance by helping managers and other end users make more informed decisions. Potential benefits include accelerating and improving decision making; optimizing internal business processes; increasing operational efficiency; driving new revenues; and gaining competitive advantages over business rivals.
Let’s have a look at some business intelligence features one can look for to take your CCTV system to the next level.
DVR – POS integration. This is an ideal loss prevention system for retailers to improve profit margins through better detection of fraud, theft, and errors in transactions. What it does is it allows the CCTV system to communicate with Point-of-Sale (POS) system allowing you to monitor inventory shrinkage and the shortage of currency.
Queue length monitoring. This determines the number of people in a scene. You can set it like once exceeds a set figure, it can generates an alert. One good application of this feature is managing queues in brick-and-mortar businesses, especially retailers to minimize wait times and lessen customer frustrations.
Loitering detection. This is basically the classic security guard that alert you whenever someone is staying in your premise for an unusual amount of time – except this one is digital. The CCTV system can trigger an alarm when a person remains in a camera scene longer than a set time.
People counting. This detects and analyzes real-time images to count foot traffic going in and out of a CCTV scene. This is ideal for department stores, event areas, airports and more. This can help get a more accurate data correlating the sales and visitor aspects of the business.
Missing and left object detection. If you are worried about unidentified object lying around your business premises then this feature is what you need. The system can trigger a notification, usually an alarm whenever an object of defined size remains in a camera scene or an object has been removed from a defined area longer than a set time.
Access counter. This feature determines how many times a specific area or object has been accessed by people. This is a great way to analyze which display section & item is the most popular & visited in the store.
Secure zone. This is the feature that will set an alarm when intrusions occur in one or more predefined restricted zones. Since businesses are the usual target most by burglars and thieves, these are the perfect way to drive all these trouble makers away.
Today’s businesses operate in economy that affords little room for error. They must combat the harsh challenges that include consolidation within the industry, tight competition, and increasingly low profit margins. It is critical for forward-thinking organizations to adopt technologies that can help capture and analyze activity patterns to increase conversion rates, improve efficiency and maximize customer satisfaction. This is where a reliable CCTV business intelligence comes into play