by Angela Guess
A recent press release states, “7Park Data, provider of leading indicators and data transformation solutions for Investment Firms and Fortune 500 Companies, today announced the launch of Location Intelligence in partnership with Cuebiq, the leading provider of highly accurate location analytics at scale. Location Intelligence leverages Cuebiq’s derived data from the largest database of accurate, precise and privacy compliant location data in the U.S. Cuebiq’s foot traffic and dwell time data is captured on an opt-in basis, and does not collect, store or share any PII. 7Park ingests and applies proprietary software to Cuebiq’s insights to derive multiple indices based on visit frequency and duration. Location Intelligence indices are highly accurate indicators of performance for companies and sectors based on extensive validation and backtesting. 7Park’s platform organizes and links the derived data by company and ticker to power downstream applications.”
The release continues, “Location Intelligence can be used to: (1) Build highly accurate forecasts — The combination of Cuebiq’s location data with 7Park’s ETL framework and data science results in highly accurate Leading Performance Indicators of company and sector performance. (2) Benchmark performance and analyze competitors — Location Intelligence has applications beyond forecasts, including assessing customer growth, competitive dynamics, and shifts in online vs. offline activity. (3) Complement consumer spending data — Location Intelligence addresses gaps that exist in other measures of consumer and activity, including credit card and POS-based sources. Location LPIs provide insight into offline activity occurring in malls, casinos, dealerships, restaurants, movie theaters, theme parks and other destinations where visit frequency and duration have a large impact on performance.”
Read more at Globe Newswire.
Photo credit: 7Park Data