Location and the Art of Business Analytics by Simon Thompson #FOCI14 #MRX

Live blogging from the #FOCI14 conference in Universal City. Any errors or bad jokes are my own.foci14

Location and the Art of Business Analytics 
Simon Thompson, Director, Commercial Solutions, ESRI

  • language evolved in order to map things in our head
  • we implicitly understand location, our smartphones understand our exact location to 6 decimal places of latitude and longitude which is 100 meters
  • we use location to add context – addresses, activities
  • if you buy a phone with an air pressure sensor on it, then you can tell the elevation, which floor of a building – time, location, height means you’re at this marketing research conference
  • i will target certain things to get a coupon but they don’t need to know where I am all the time
  • context trumps content
  • in 2020 there will be 50 billion connect devices and they are all location aware
  • 55% of all retail internet time originated on smartphones and tablets
  • the death of things – paper maps, notebooks, business cards, pedometer, tape measure, scanners – all dying because of smartphones
  • people think about geography as getting coupons – is this minority report?
  • 80% of purchases are made within 10 miles of home or work
  • combine social media mining with location monitoring
  • locavation – reason for being in or at a place, act of giving someone a reason or incentive to be somewhere, commitment that makes someone want to be somewhere, behaving in a particular way in a particular place
  • location is the new cookie – place impressions out perform page impressions
  • we live in the internet, not on the internet
  • recall the case when Target identified an underage girl as being pregnant, and then sent advertising to her? Why didn’t Target recognize she was a GIRL, not an adult? They had all the data to identify that datapoint as well but they ignored it?
  • “if you build it, you can monetize it” — that’s scary! build a technology and then try to use it
  • the shopping journal is just like a shopping journal online – except online you can also get a welcome back, personalized offers, recommend products, tailor the content, analyze behavior
  • can a physical store do this? with location devices you can localize products for an area, detect arrival at a location, tailor offers by proximity, analyze raw data, concierge services for premium customers, validate effectiveness of window displays, modify store layout, analyze checkout queue times
  • indoor mapping with transform retail in the same way that freeways did in the 1950s
  • smartphones make it hyper hyper local

Other Posts

%d bloggers like this: