Location Intelligence or Location Based Services is the latest buzzword in the mobile world. Every Retailer and business biggies must know about Location Intelligence to make their business more successful and bring them closer to the target audience. Location Intelligence provides business with huge data sets, consisting of both geographical and demographic data. With the help Foot-traffic data Retailers can understand customer preferences, shopping habits, commuting patterns, and so on. This helps businesses to take correct decisions and come out with optimal solutions.
Let us talk about Location Intelligence in detail. Location Intelligence collects data from different channels for business such as mobile phone, GPS, internet, retail s, and others. This data is used by Business Intelligence Experts for a wide range of purposes such as Demand forecasting, Customer relationship management (CRM), Competitive analysis, Consumer preferences, etc. The gathered data is then processed through complex algorithms to form LSI reports. These reports are extremely useful for businesses looking to understand consumer behavior trends. For example, if a retail outlet in a particular city has high mobile foot traffic during the weekend, then this could indicate that the retail outlet has good footfall or is becoming popular.
Location Intelligence can be very useful to Finance Experts in analyzing Foot traffic Data in Michigan, Georgia or California. It can help finance departments to understand which locations are profitable and which locations are not. The retail trade area analysis report can also be used to choose the location for expansion or improving profitability. This report can also be used as a resource for new locations or for making an initial selection.
Now let us see how Retail Store Location Intelligence can be applied for a real-time analysis of mobile foot traffic for opening high performing locations. Retailers are always in need of accurate data about their footfall. A well-established geocoding service can provide the data required for this purpose. Geocoding services will provide accurate data about the source of a phone number. This data is extracted from the user's internet usage habits. The service can easily provide the data for the entire region, state, or country and the city or neighborhood.
The collected data can be used to: Determine the location of people who are interested in a particular product or service, gather opinion or survey consumers about a particular brand, or offer a service or just about anything that requires gathering data. The use of this data can help a company to understand their customer's mobile behaviour and the trends that are changing the consumer behavior.
The collection of mobile foot traffic data for retail store location analysis purpose is quite inexpensive. It costs nothing except a few hundred dollars for a single computer system and internet connection and can provide data such as: The number of calls to a cell phone or wireless access numbers; the location of people using those numbers; the number of people with GPS and wireless access numbers in a particular radius of a location; and average time spent on a particular page. All this data can be easily compiled by the right company providing mobile data services.
The importance of real estate site selection software is about Mobile Data Analysis and Data Collection. Today there is no reason for using traditional retail site selection software which is time consuming, expensive and tedious. The analysis of data gathered through leading tools like Mapzot has now become a normal procedure in businesses of all sizes. The services provided allow organizations to generate their own custom reports in the form of customized reports.
Today almost every company is aware of the fact that the success of a business is greatly dependent on its location. Companies are increasingly using tool like Mapzot for their analysis of mobile traffic. Data collected using this method helps the company to understand the location of their customers, the routes used by customers to reach out to their stores, find suppliers and other business partners, and ultimately improve their customer satisfaction and loyalty.
How to Find the Retail Space You Want in Georgia Using Foot Traffic Data
The Mobile Foot Traffic Data Georgia provides to organizations and businesses doing in-store research on their mobile marketing strategies, options, and tools. Such data is a clear indicator of the flow of foot traffic within a particular shopping mall or trade area. It allows the traffic analysis team to accurately pinpoint areas that see a greater or lower foot traffic volume. Such information gathered by commercial real estate analysis software within the Mobile Foot Traffic Data Georgia database that can provide valuable insights into product positioning, advertising and promotional efforts, and brand recognition. These data are likewise used to track down problem spots or areas which need to be improved upon to improve overall store performance.
Retail store owners know how important it is to attract as many people as possible to their store during the hours of operation. This entails having a well-developed Mobile Foot Traffic Data Center to collect this crucial data. This "data warehouse" should encompass all important points of interest when conducting any form of store research, such as demographics and customer preferences. For instance, retail store owners that cater to younger consumers would want to focus their efforts on gathering more data on teens. Such information may include the types of phones which they usually use, their usage of browsers, their location, their interests and hobbies, and much more. Such data can be used to provide richer, more engaging content for the various displays which are then used within the store.
Retailers should also keep an eye out for how much mobile foot traffic they are getting and make data-driven retail store site selection decisions. More than ninety percent of shoppers nowadays have access to a cell phone and most of these devices are smart phones that . Thus, it is imperative that marketers who target this kind of consumer would gather as much reliable data on them as they possibly can. For example, this could include things like where the shopper first entered the store, how long they were there and how many bags or shoes they bought. Such information could then be used to create custom-made promotional material and ads to further stimulate foot traffic within the shop itself and at the mall as well.