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How Data Intelligence Platforms Promote Business Success

A company’s ability to adapt and succeed in an ever-changing environment depends increasingly on its ability to comprehend and predict the behaviour of its customers. Consumers’ purchasing habits have changed dramatically in recent years, and this trend is expected to continue in the next years. Human movement data is critical for businesses trying to keep up with shifting consumer habits, but it is impossible to fully grasp human movement and its ramifications without precise points of interest (or POIs).

Many merchants sell multiple listings of POIs and brand locations that are mainly scraped directly from the websites of the respective businesses. To calculating foot traffic and estimating footfall, these providers will combine POI data with movement data. If a company is using a service like this, they are more than likely going to miss out on excellent POIs or movement data.

Quality of Data on Human Movements

Let’s begin by addressing the issue of “quality” when it comes to human movement information. Mobile devices are the primary source of human movement data, which is also known as mobile location data. To acquire GPS data from the device’s built-in GPS receiver, applications first download and install software development kits, or SDKs (either specifically designed for this purpose or intended for advertising). According to the number of devices that allow location sharing, as well as the number of data points they emit, the app publishers get compensated for their services. Using fake data to game the system has emerged in a system where revenue is based on volume, not quality. Based on fake data, any insights gained are practically meaningless.

In this case, many organizations come to the rescue. In which mobile app industry for more than a decade, first as an app publisher, and now as an expert in human mobility data. Over the years, near has spent countless hours refining Machine Learning algorithms to guarantee that the data in our enormous library of human movement is as clean as possible while also properly representing human movement. Avoid providers who merely talk about panels as a “magic bullet” to combat fraud or who wave their hands when you ask about data quality. As a result, global database of meticulously cleaned human movement data is a gold standard that provides businesses with the confidence they need to make strategic and essential decisions for real estate, marketing, and operations.

Places Data Quality

Many companies prefer to “algorithmically determined visits” while referring to POIs, in which case devices that are POIs are counted as visitors to achieve sufficient sample sizes. This is since they are estimating the number of visitors based on a point radius or other approximation. You can’t rely on the outcomes of this procedure with any degree of certainty. Your customer’s journey will be obscured, and you’ll be hard-pressed to figure out whether they stopped at McDonald’s or the high-end steakhouse just down the street, for example.

Hand-drawn, human-reviewed geo-boundaries serve as the foundation for Data Intelligence platform, which pinpoints the exact location of a business or attraction such as a restaurant, park, or tourist hotspot. POIs can now be transformed into “places,” unlocking the ability to use Place data in both operational and marketing intelligence contexts, such as attracting tenants, site selection, or monitoring competitive footfall. This accuracy enables Place data to be used for applications in both the operational and marketing intelligence contexts.

An effective marketing campaign must target the right prospects and customers. To do this, you must first know who they are and how to reach them. Accurate segmentation is impossible to achieve with erroneous customer data. As a result, businesses require reliable location information to develop their customer profiles and gain a better understanding of their competition and the clients they’re attracting.

For each POI, defining a specific audience is the first step in unlocking the secret sauce of what you cannot just do with the data, but also how you can target and subsequently build a more trustworthy, human, and personalized customer experience. In order for a company to be successful, its target and marketing campaigns must be based on reliable data and solid location information. If you want to know how well your marketing campaign is working, you’ll need to know where your target audience is located. In today’s competitive landscape, knowing that a customer went to a store three stores down or merely serving up an ad that someone drives by isn’t enough. It’s a competitive advantage for businesses to know that the individual they attracted to their location was exposed to your ad.

Final Thought

Organizations need human mobility data to stay on top of customers’ ever-evolving routines. Without clear focal points, it’s impossible to understand human movement in all its complexities (or POIs). Most of the POIs and brand locations sold by these businesses are primarily scraped from their own websites. It’s all about volume, not quality when it comes to generating cash in the digital world. As a gold standard for enterprises, Global database of rigorously cleansed human movement data serves as a source of assurance that helps them make critical strategic decisions.

Using Data Intelligence platform, businesses and tourist attractions may be pinpointed to their specific location using hand-drawn, human-reviewed geo-boundaries. You must first identify a target audience for each POI to harness the data’s potential. Developing customer profiles and gaining a better knowledge of their competition and the customers they are attracting require businesses to have access to accurate location data. Knowing that the person you brought to your location was exposed to your ad is a competitive advantage for businesses.

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