POI Analysis in the Retail Sector
- Thursday, August 19, 2021
A point of interest (POI) is a specific geographic entity, such as a restaurant, a high school, a shopping mall or a corporate office, these points are the basis of most of the data that support location-based applications, they can be either permanent or temporary.
Also read: "Geomarketing: What Every Retailer Should Know".
Mobile and geospatial data analysis focused on points of interest, have become vital to the efficiency of any business, as they allow to understand some important points that retailers need to ensure the success of their establishments.
Knowing the places visited on the consumers' shopping route, the classification and number of customers visiting or passing near a POI, the type of inhabitants that pass through certain areas, the times when some locations have more pedestrian traffic, among many others, are just some of the answers that these types of analysis provide.
Uses and Applications in the Retail Sector
Combining location and mobility data with POI data increases the internal and external benefits of retail businesses by providing a reliable, economically intelligent home delivery system that meets user expectations, plans efficient transportation routes for deliveries and pickups to optimize labor and supply chain costs, establishes warehouses strategically closer to desired locations to provide faster deliveries and reduce costs, provides shorter and more accurate delivery times, improves order tracking and enhances customer satisfaction.
You may be interested in: "POS Analytics based on Big Data".
These analytics also make it possible to locate and classify consumers in order to optimize and improve advertising to increase foot traffic in stores, generate accurate insights into competitors' foot traffic and visitation rate to generate strategies that lead to higher competitiveness, analyze the performance of all stores in an area to get a detailed comparison, and even know the route of consumers to take them from online stores to physical points of sale.
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