Traditionally, retailers have leveraged demographic and socio-economic indicators to analyze and predict store sales. While this was adequate five or ten years ago, this approach no longer offers enough substantive information for sales projections, pricing, merchandizing or competitive intelligence. Road sensors and connected vehicles, in addition to geo-enabled mobile devices, have created more data that is specific to local traffic volume by time of day and day of week. With the emergence of vehicle traffic analytics, retailers can now have a more complete understanding of consumer behavior at a hyper-local level.
Still, location remains a key consideration of any brick-and-mortar retail establishment and having a strong brand will reveal its “attractiveness” that can be measured by traffic analytics. While not the only measure of success, traffic volume can indicate the strength of the brand, its awareness by consumers and identifies its daily affinity. In this webinar, you will learn about traffic analytics solutions, and we’ll provide guidance about the necessary geospatial data requirements that will support the development of business intelligence dashboards for brand and marketing managers.
Key Takeaways from this webinar:
- We’ll demonstrate the methods of analyzing location-based vehicular traffic patterns
- We’ll show which traffic data products are most useful for projecting sales
- Traffic volume can be real-time, historical, or sliced by time of day … We’ll show you why each is useful in the right way