Monday, May 20, 2019

How Video Analytics is rewriting the rules of business intelligence

Video-based insights using deep learning and Artificial Intelligence are rewriting the rules of business intelligence today. Businesses across the spectrum including retail, education, sports, media and entertainment, communications, or security, understand that human-powered systems for analysis are inadequate, besides being time and cost-intensive. Video-based insights are shaping the conversation around business and consumer intelligence; why not, after all it’s faster, cheaper, with higher levels of accuracy, powering incisive and results-oriented decision-making.

Intelligent video-based insights - the new business growth engine
Video is increasingly being used to observe and capture behavior patterns, which reflect authentic, not stated behaviors. Intelligent, AI-powered video data analysis and the resultant insights are playing an important role in shaping the new normal for aggregating and analyzing this type of business and market intelligence.
Technology has enabled collection of humongous amount of data, making data analytics extremely necessary and popular. Data analytics then evolved to include the concept of predictive data analytics which then further evolved to unlocking insights, which actually helped answer relevant and pertinent business questions. The same revolution is taking place in video-based analysis and insights.

In fact, the introduction of AI in video-based insights is starting to lead to a reduction in the number of false positives, human error and is bringing in a greater degree of accuracy and reduced data analysis time. Deep learning technology actually mimics the human brain, continuing to learn and sift and sort large amounts of complex structured and unstructured data, filtering out the unnecessary and focusing on critical data for analysis.
According to research firm Allied Market Research, the global video analytics market,is projected to reach USD 14.43 billion by 2025, growing at a CAGR of 21.4%. The Mckinsey Global Institute also predicts the rise and rise of video-based analytics across industries. Besides, factors such as advanced systems, falling storage costs, cloud technology, improved support, lower Total Cost of Ownership, better and faster feature updates and lower time to deploy and set up, have all been instrumental in the increased proliferation of AI-powered video-based insights solutions. This means that businesses can continue to capture and analyse a large number of video-based data in real-time, faster and more accurately, and reveal insights that aid and abet informed decision-making.
AI-powered video-insights solutions are adding the fizz
Streamingo, is an innovative deep learning technology company, singularly focused on generating automated insights from video analysis at scale. Its flagship solution, FizzStream, is a patent-pending video-based insights platform that has the AI-powered sophistication and capability to analyse speech, images and text within a video. It can process video urls and video files, audio files and text files as inputs, and the output is a FizzD video. Now, consumer research cells in FMCG companies can use FizzStream to engineer, position, or market improvements faster and with greater accuracy and efficiency.
With Artificial Intelligence powered video-based insights businesses are discovering that they no longer have to wait for days and weeks or spend millions to gain deeper insight into what makes their customers tick. Video analysis and insights is the here and now, not a distant future.
Do you think automated video-based insights will continue to rewrite the rules of business intelligence? Let us know in the comments below.

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