The business value of crowd insight
Crowd Insight will get precise data about customer behaviours. We can use that data to create better ad campaigns, better deals, form more attractive prices depending on people’s need and even for better traffic planning and organization.
Human behavior is a mystery at its core, and perhaps even more so in retail, where the best laid marketing campaigns of firms go awry and astray, with goods piling up on shelves. Technology, via big data, and even nuanced information about who is doing what, can help solve some of that mystery.
What Maptrends can do with Crowd Insight is give retailers the information and the context that they couldn’t get before by accessing a continuous flow of data from network operators. When receiving that data flow, cleaning and anonymizing it, the data can be combined with other points of information, such as GPS data, wifi, demographics — even social networking information — to get a better picture of where crowds are going where and why.
This kind of data has always been collected by operators, what we are supplying is a platform and frontend that can go on what they’ve already got … it is extra algorithms, filters, search functions and extraction that can allow users to see finite locations and get better segmentation from crowds — and across multiple networks.
This allows a firm to compare locations within a portfolio of stores, discovering which sites are grabbing more foot traffic and where customers might be lingering. Such insight can help improve results at a situational level and, of course, positively impact the company.
An example testcase: A company looked at traffic patterns of local neighborhoods and adopted targeted advertising — including one that invited shoppers to bring friends in return for a discount voucher to be used in the mall. One of the insights that they uncovered was that mall advertising was primarily done inside of the mall — not where they lived, a mix which has now been changed. How many % can your business increase?
Transportation industries also can benefit from data analytics on this scale. City planners can find where they might need to locate new bus stops according to consumers’ and commuters’ needs. Actionable insight may be found in terms of maintaining a bridge or what roads to target when doing road work, because more traffic coming through and those roads degrade faster.
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