Is Video Analytics a Game Changer for Market Research?.docx

Intelligent video analytics (IVA) has been growing in the past decade, with a variety of applications from fraud detection to traffic control. This research focuses on the impact of IVA as a decision support tool for market surveys. We compiled a comparative list of existing market survey methods, and identified potential cognitive biases that these methods may impose. In order to look at the efficiencies and accuracies that can be gained by IVA, we conducted experiments and analyzed the results that are automatically captured by the software in real time. Our results show some unexpected variations that may not be obvious to a market researcher. We conclude that the use of IVA can enhance decision-making by improving response rate and accuracy, and reduce some of the cognitive biases that may be affecting quantitative primary data. However, even though it can identify age, gender, location and time of target audience, with its current capabilities IVA cannot be a substitute for qualitative survey methods.