In-store surveillance helps retailers to deter crime and prevent loss in their shops. This is one dimension in which surveillance cameras helps improve store operations. The value of surveillance footage is limitless thanks to intelligent video content analytics (VCA) applications. The videos are now great assets as they can be analyzed to understand customer behavior. Merchants can now adopt and innovate to ensure their business model is aligned to the needs of their customers. Improved store operation wins retailers more customers and ensures their businesses stay afloat.
Providing Business Intelligence
Modern surveillance cameras can be integrated with VCA application. These are cloud software that allows store owners to access data from any digital device. All you need is a strong internet connection, and you can manage data from a dashboard interface.
You get to analyze your store’s traffic at different times of the day. Some measurable factors you can use for analysis include zone specifics, dwell time, and passerby to mention a few. Such actionable business intelligence allows you to remodel your business for greater profits.
Improve Resource Planning
Once you have sufficient customer data, you can then experiment with different business models to determine how best to operate your store. The store’s layout, your workforce as well as inventory all contribute to the performance of your retail store.
Since you have data evidence, you can easily set aside enough resource for optimum business performance. You get to only use the resources you need without stripping your business of profitability. Start-ups can start small as they move through the learning curve.
As a retail store owner, you need effective business intelligence to improve the business’ performance. Efficient resource planning prevents resource wastage and ensures you tap into the business profit potential. Contact us to learn more about how to improve your business’ operations with video analytics.