Overview
The way data is collected and used is constantly transforming before our eyes. The creation of the internet, low storage costs, and use of social media has drastically increased the capabilities of data and has created an entirely new industry. Corporations can leverage this data to make information-driven decisions. When considering data, the first thing that may come to mind is a spreadsheet with well-formatted and recorded data. However, new data harvesting methods have become more popular that often deal with unstructured data. Unstructured data is data that is not formatted, however, it can still be extremely useful and valuable. For example, text from social media as well as data derived from videos are used to draw inferences about consumers that other more traditional data could not. For more information on unstructured data, please visit this article.
What is Video Analytics?
Video Analytics has the ability to combine multiple data analytic techniques. Facial Recognition software can be used to identify people in videos. Unstructured text data can be drawn from videos that contain text. Sentiment Analysis can be conducted on user’s comments and reactions to videos. There are also many more insights and information that can be derived from video’s that are not available with other data mediums. Unstructured video data is created daily. With the rise of social media and the internet, video sharing will only increase. The invention of sites like YouTube and Netfilx have increased video streaming by millions of users; almost every user of the internet will stream some sort of video media daily. This is beneficial for corporations and data analysts as video is a medium that can tell a lot more about consumers than other types of data. According to some estimates by IBM, 80% of internet traffic will be caused by video streaming by 2019. This is a huge industry and excellent opportunity for corporations to analyze.
In my opinion, sentiment analysis conducted on comments on video’s is one of the most useful data that can be derived from video’s. For example, let’s say a company posts a new advertisement online. If thousands of consumer’s comment on the video, machine learning can be used to determine what the overall feeling was about the advertisement, and therefore, the product. If most of the comments are good, that means that the corporation did well in the advertisement and their product is being adopted well. However, if most of the comments are negative, they could see that there are some issues with their advertisement or that some changes need to be made to their product.
There are also uses of video analytics that are helpful for security purposes. Police and other government agencies can now use facial recognition software to catch criminals. For example, if a security camera were to capture the face of a terrorist suspect, the police could obtain this video. By using facial recognition software in conjunction with publically-available social media data and images, they could run the face and perhaps get a match. This would allow them to identify the suspect based on their social media profiles.
Issues
Although there are many benefits to video analytics, there are also some implications that need to be considered. The most important issues that arises is where to store the data that is collected from video analytics. The massive amounts of data that is produced daily from videos needs to be stored somewhere. Storing and accessing this data can be a costly and time-consuming process. Streaming large video files can be a huge obstacle that smaller businesses need to develop a solution for. As video data is becoming more advanced with better cameras and digital media. Storing these high-quality videos takes up a large amount of space and is expensive to do so. A process known as Transcoding looks to ease this storage strain. Transcoding is the process of converting digital data files to another data type. This often makes the file much smaller, therefore, easier to handle and cheaper to store. Also, it can make data compatible with any pre-existing storage system. Although there can be a loss of quality in the data, it is still accessible and can still be used for analytical purposes. For more information on transcoding, please visit this article.
By changing the format of a movie file, much less space needs to be used when storing its data in a database. There are many applications that are available for transcoding videos. For example, transcoding videos can easily be completed using Cloudinary. This service allows for its users to adjust the quality, bitrate, and codec of videos. This means that the stream will always be smooth regardless of the device or bandwidth.
Wrapping Up
I believe that corporations will only continue to develop video analytics. There are immense opportunities that the data collected from videos can give to analysts. Especially considering the impact that social media has on modern culture. As most social media sites are free to use, sites such as Instagram, FaceBook, and Snapchat use ads to gain revenue. Many of these ads are in video format. By analyzing people’s likes and interests, certain ads could be more appealing to them and attract their attention. To help identify these users, sentiment analysis could be conducted on their profiles and comments to help find their interests. As cameras and videos become more advanced, this industry will only grow. The technology needed to analyze video data needs to grow with it.
In conclusion, I believe that video data should be considered big data. It is increasing daily and is projected to soon take up most of the internet’s traffic. It would be foolish for corporations to ignore what people are doing on the internet for 80% of the time.
Bibliography
“Unstructured Data.” Wikipedia, Wikimedia Foundation, 3 July 2018, en.wikipedia.org.
“Transcoding.” Wikipedia, Wikimedia Foundation, 5 July 2018, en.wikipedia.org.
Posey, Brian. “Streaming Large Video Files in Today’s Big Data Environments.” SearchStorage, TechTarget, searchstorage.techtarget.com.
Woodie, Alex. “Analyzing Video, the Biggest Data of Them All.” Datanami, 26 May 2016, www.datanami.com.