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Monday, 22 December 2014
Video Analytics Solutions for Businesses
Wednesday, 30 May 2012

CCTV technology is widely used in corporate, industries, public places, etc to monitor and track for undesirable activity. One way to add value to the captured footage is via video analytics. Video analytics or video content analytics was first seen as a notable force back in 2007. ABI Research predicts that Business Intelligence tools incorporatingvideo analytics will become a $900 million market by 2016.

There are two kinds of video analytics: basic and advanced. Nowadays, the basic is also “free” or very low-cost, and comes bundled with the top-tier network cameras in the market. Differences between basic and advanced video analytics are shown in the exhibit below.

            30-05-12.png

While most times, the footage is sifted through only afterwards, video analytics enables real-time usage. A demonstration of the real-time capabilities may convince the customer to buy. The demonstration to the potential customer could showcase video analytics capabilities including, among others, real-time alerts, event retrieval, event statistics, license plate recognition, and face capture. Industries where video analytics are useful include retailers, where the technology is used for loss prevention, and the transportation industry for video analytics at toll plazas.

A further value-add could come through tagging of video using XML. This XML document has some fields which can be optimized based on the search being performed, and also be transferrable across engines. The XML meta-data also provides for smoother integration.

Purchase decisions of video analytics are dictated solely on price and technology benefits. Buyers then face sticker shock when presented with the additional price of integration, configuration, and calibration with existing security systems. Service providers have to sell the idea that the purchase price of video analytics has to be calculated over a 3-5 year life cycle. Most providers tout themselves as partners that can deliver an ‘end-to-end’ service, and maximize the client’s capabilities by leveraging their systems and applications through superior integration. To really attract buyer attention, a service provider needs to have both industry and product knowledge. He also requires the experience to make the video analytics solution he provides to meet the client’s unique needs.

ValueNotes is launching a series of reports on the Analytics segment of the KPO industry, and the leading service providers within them. To share your inputs and views, please participate in the Annual KPO service provider survey .

- Deepti Krishnan, Analyst, ValueNotes Sourcing Practice


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