Mobile Device Data
Mobile device data is one of the fastest growing data sets in the analytics space. Mobile device data is the first data of its kind that can be used to profile and track consumer movements and retail shopping habits.
Mobile device data tracking can assist businesses with understanding the location and behaviour of customers, competitors customers, and the broader mass market, across different times of the day.
Geotech Information Services can create value and insight from mobile device data, to not only assist with understanding more about your customers movements and behaviour, but also that of your competitors.
Helping To Track Consumer Behaviour
Businesses that were early adopters of mobile device data have already seen the benefits from the insights it can provide. It can show consumer movements before and after visiting stores or locations, where else they go, how far they travel from, and their likely motivations for choosing your brand.
The possibilities are endless. A snapshot of the ways Geotech Information Services are using mobile device data to assist businesses includes:
- Measuring pedestrian traffic by time of day throughout shopping centres, CBD environments, and regional country areas
- Profiling the shopping behaviour, movement, and characteristics of your customers (and competitors customers).
- Determining whether customers are frequenting each store due to being local in the area (home, work, study), or are transient customers who frequent a store while passing by.
- Generating catchments around stores, shopping centre, or retail precincts and profiling consumers contained within.
- Estimating the impacts of cannibalisation before a new store is opened.
Estimating Cannibalisation Impacts Using Mobile Device Data in Franchise Sector
Mobile device data has greatly benefited the franchise sector, as cannibalisation impacts can be estimated before a new franchise is committed to using real world consumer travel behaviour.
This has allowed franchisors to weigh up the potential net gains from opening a new franchise, against the potential net losses on the existing franchise network. Some franchise systems even use the estimates of cannibalisation on the existing network to determine which franchisee to give first right of refusal to for a new store entering the network.
Mobile device data is one of the fastest growing big data sets in the analytics space. Learn more about Geotech Information Services big data solutions.