TIDMBST
Big Sofa Technologies Group PLC
27 June 2018
27 June 2018
Big Sofa Technologies Group plc
("Big Sofa" or the "Company")
Launch of Video Observer
-- Development of a unique solution based on owned IP to analyse in-home behaviour at scale
-- Video Observer utilises cameras installed by individuals and monitored remotely by Big Sofa
-- $200,000 pilot project of Video Observer completed with
84.51˚ - total of more than $500,000 of commissioned work with
84.51˚ over last nine months
Big Sofa (AIM: BST), a fast-growing international video
analytics provider to consumer brands and market research agencies,
announces the launch of Video Observer, an automated software
solution that analyses in-home behaviour globally and at scale.
In addition, Big Sofa is pleased to confirm it has completed its
first successful pilot for Video Observer with 84.51˚, the consumer
insights subsidiary of Kroger, the second largest retailer in the
world.
Video Observer captures previously inaccessible, real-time
behavioural information and data from fixed cameras in
participants' homes alongside mobile/wearable cameras used in home
or in-store. Video is securely streamed from these devices to Big
Sofa's physical servers in key countries where it is monitored and
managed remotely by the Company.
Using proprietary technology, Big Sofa is able to obfuscate
faces and personal data from the captured video, as required to
conform to data protection and compliance restrictions, and scrub
non-relevant content. As video is uploaded, Big Sofa employs a
range of A.I. and human-led tools to transform unstructured video
into robust, nuanced and quantifiable data.
Successful pilot project with 84.51˚
The beta version of Video Observer was launched in Q1 2018,
following which, Big Sofa completed two pilot projects for 84.51˚,
totalling $200,000. This is in addition to the $150,000
subscription Big Sofa also secured with 84.51˚ in the first half of
2018, generating high quality, subscription-based earnings. 84.51˚
has commissioned a total of more than $500,000 of work since the
inception of the commercial relationship nine months ago and Big
Sofa continues to build upon this partnership to develop material
revenue streams.
The first of these projects looked specifically at homes enabled
with smart technology and exploring the ways in which consumers
behave in these environments and engage with the technology.
The second involved the capture of three months' worth of video,
which will form the foundation of a wider consumer research piece.
100,000 videos, totalling 20,000 hours, were captured. Big Sofa's
in-house activity detection technology and other proprietary
techniques were used to scrub this down to 1,500 hours,
encompassing the relevant product interactions.
Simon Lidington, Chief Executive Officer of Big Sofa,
commented:
"Our distinct combination of sophisticated video capture
techniques coupled with our increasingly automated analytics
capabilities provides the foundation for Video Observer, which is a
proprietary solution developed in-house and we believe is unique
within the market. Video Observer enables our clients to access
authentic consumer insight at a scale and level of granularity that
was previously unattainable, observing individuals' behaviours over
weeks or even months.
We consider video to be the unrivalled medium with which to gain
understanding of true human behaviour, reducing the reliance solely
on reported actions, and thereby continuing to transform the
consumer insight industry."
Enquiries
Big Sofa Technologies Group via Vigo Communications
plc
Simon Lidington, CEO
Matt Lynch, CSO
Joe MacCarthy, CFO
Arden Partners plc (Nominated +44 (0)20 7614
Adviser and Broker) 5900
Paul Shackleton / Ben Cryer
Vigo Communications (Financial +44 (0)20 7390
Public Relations) 0237
Ben Simons / Jeremy Garcia
/ Antonia Pollock
About Big Sofa Technologies Group plc
Big Sofa is a B2B technology business servicing the marketing
and consumer insight industries with video analytics.
Our software platform collates, analyses and organises large
volumes of raw/unstructured video content enabling companies to
perform detailed and sophisticated consumer insight analysis; and
make genuine use of their video content.
Until recently, video has been difficult and expensive to
capture, upload, store, manage and analyse as a consumer insight
tool. However, proliferation of smart phones has empowered
consumers to speak directly to brands resulting in an evolution of
consumer insight and data analytics techniques, with video emerging
as a key platform in a massive $33 billion consumer research
market.
Big Sofa's shares are admitted to trading on the London Stock
Exchange's AIM market under the ticker BST.L.
To find out more, visit www.bigsofatech.com
Follow us on twitter at @bigsofatech
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END
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June 27, 2018 02:01 ET (06:01 GMT)
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