Photo - Mei Chuen Thong, COO, VIDA - Omesti Video Analytics.
A new partnership between Malaysia's digital business solutions provider Omesti Group (Omesti) and Singapore's telecommunications solutions firm KAI Square (KAI) is intended to bring business benefits to the Malaysian retail sector with a new offering called VIDA - Omesti Video Analytics solution.
Under the partnership, which was facilitated by IDA (Infocomm Development Authority of Singapore) subsidiary IDA International, businesses in Malaysia will be able derive business and security intelligence from video footage to help generate higher revenue and optimise operational costs.
Delivered as a cloud-based service on a monthly subscription, retailers can monitor shoppers' behaviour in real time and produce analytics reports on shopping trends, at any time from any device, said Mei Chuen Thong, chief operating officer of VIDA - Omesti Video Analytics.
Mei said customers can access a range of business intelligence features, including audience profiling, people counting, crowd density, human traffic flow and audience attention.
She said that retailers will be able to better understand their customers, optimise their staffing costs and product pricing, improve product placement and forecast merchandising, as well as use the solution for smart surveillance.
Feeling the pinch
"With all segments of the retail sector becoming increasingly competitive, retailers are feeling the pinch and need to find new ways to boost sales and grow their market share," said Mei.
"By applying intelligent video analytics, these retailers will be able to enhance their understanding of customer buying behaviour and manage security threats. VIDA is a complete solution that empowers retailers to sell more effectively, leading to higher profitability," she said.
The solution, which was developed by KAI, helps to offer video analytics in six countries - Singapore, Thailand, Taiwan, China, Middle East Region and UK - covering more than 10 retail sectors, said Neo Shi Yong, co-founder and CEO of KAI, who said Omesti has been appointed as the exclusive distributor for Malaysia.
"There are endless possibilities that can be fulfilled with intelligent video analytics solutions, with the ability to recognise, track and count," added Neo. "I believe this can create a bigger and more competitive eco-system in the surveillance domain, resulting in higher cost savings and returns on investment for the end user."
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