Today’s digital world brings with it a plethora of workflows associated with the content which are extremely intricate with producing, managing, distributing, and media tagging.
Almost every internet user would have come across ads to help them make purchases while watching videos on platforms such as YouTube. But what if platforms could identify shoppable products from the videos itself using innovative technology? Businesses dealing in shoppable videos by tagging in-video products to major e-commerce platform sites or partner e-shops have been gaining significant traction in recent times. Simply put, these are media tech and media tagging platforms. For the e-commerce industry, this is turning out to be a boon for business prospects, as media tagging platforms driven by cutting-edge technologies are transforming the e-commerce industry. Here’s how.
For brands in the media industry, today’s digital world brings with it a plethora of workflows associated with the content which are extremely intricate with producing, managing, distributing, and media tagging. All these functions are bound together by a core element – metadata. So, what is metadata?
Metadata is data about data. This may sound confusing, so let us break it down. Metadata is simply data that provides us information about other data. To elaborate more, metadata today has become more complex as companies expand their assets in new mediums such as digital videos. For example, media tagging platforms use metadata to discern data such as image recognition, object identification, facial recognition, emotion recognition, and location identification to create non-intrusive live placement of ads with textual content and keyword mapping. Using such extensive details, media tagging companies extract metadata which also allows monetization and identifies the brands, logos, and so on merely from the videos online.
Role in the e-commerce industry
Although it might appear that metadata is not directly linked to e-commerce platforms achieving transformative progress, it certainly does play an instrumental role in the industry. For instance, while watching a video, we might notice that the clothes worn by the people in it are attractive and may appeal to us. Later, we might try to find the same piece of clothing on an e-commerce platform. Metadata merely simplifies this process and allows a particular image to be related back to the e-commerce website.
Through such cross opportunities, metadata becomes a core repository from a data standpoint and helps media tagging platforms discover newer content in a better way. It also helps e-commerce platforms find out which items are in stock and which are the ones they need to stock up on based on consumer preference, i.e., it helps in the relevance of products for e-commerce websites.
The road ahead
In recent times, particularly over the past two years, technologies such as AI and Deep Learning have evolved at a breakneck pace and most brands are now relying on such computer vision technologies to fast-track their progress. Technology also considerably reduces the need for a large manual workforce and can simply make do with a large data entry team. More and more media-tech and media tagging platforms are looking at collaborations with e-commerce websites through upgraded infrastructure which will help optimize time, cost, and resources.
Such ground-breaking innovations, when considered from a B2B angle, prove to be mutually beneficial for all the parties involved. The future will undoubtedly witness the emergence of more such innovations which will facilitate video/image shopping and monetization of products in real-time in any video scene, and pave the way for live commerce