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Problem
This famous department store followed a rigorous conventional loss prevention strategy that relied extensively on on-site loss prevention personnel and fixed and PTZ (pan-tilt-zoom) video surveillance cameras. The approach was labor-intensive, time-consuming, and costly. Still, the results were unsatisfactory. Losses continued to mount. Many fraudulent incidents were never identified, and some were not pursued because of timeframe and resources required to make the case.
Solution
Management realized it needed a way to extract intelligence from the volumes of security video and accelerate investigations and cases of fraud. Specifically, it had to find a solution that could analyze countless hours of video surveillance footage to find, document, and alert security staff to potentially fraudulent activity.
The store turned to IntelliVid’s Video Investigator (TM), a video analytics application that analyzes the video from the store’s surveillance cameras, and analyzes the data in real time to identify potential fraudulent activities and alert loss prevention staff. The system, they discovered, could also be applied to opportunities other than loss prevention, such as gaining business intelligence in store operations or merchandising.
Results
Video Investigator quickly established itself as an invaluable tool. The store credits its usage in approximately 50% of all external loss cases and about 75% of all internal cases.
In terms of decreasing shrink and deterring theft, Video Investigator played a role in identifying over $100,000 in shrink reduction, which contributed to a 10-20% overall decline in shrink. The store also experienced an 86% increase in closed cases (91 cases vs. 49 the year before) and a 65% increase in dollar value associated with recovered merchandise ($20,100 vs. $12,200). Even following a 38% reduction in loss prevention staffing, the store still tied for first place in lowest shrink figures in the country.
Video Investigator helped to boost staff productivity. Where it used to take one hour to review the daily video, it now takes 10 minutes. Where the staff simply did not have the hours required to review POS cameras to detect staff hand-outs, they now do it in 20 minutes. One person using Video Investigator in the loss prevention control room can support multiple detectives on the floor.
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