Extends data portfolio leadership and creates possibilities for new products, analysis, and insights
PlaceIQ, now part of Precisely, is expanding the foundational dataset upon which all PlaceIQ data products are built to include two new data sources. To complement mobile location data, PlaceIQ is adding automotive telematics data from internet connected vehicles and purchase data from credit and debit card purchases to build a persistent and robust understanding of consumer behavior. Synthesizing these diverse datasets will deepen and strengthen PlaceIQ’s data portfolio to enable new products, analysis, and insights.
“We’re expanding the multi-source approach we’ve always taken, further diversifying our portfolio with new data types to answer more questions for our clients,” said Manik Khanna, Vice President of Business Development at PlaceIQ. “We are always exploring alternative inputs and are excited about automotive and purchase data due to their high coverage and ability to complement the mobile movement data, with their persistence of information and ability to illuminate what happens within retailers.”
There are millions of connected cars in the US today that deliver aggregate, anonymous information about consumer journeys and patterns, enabling business insights such as changes in drive-time due to evolving work-from-home trends, or retail site selection informed by drive-by traffic. The inclusion of third-party purchase data built from more than 100 million credit and debit cards provide comprehensive insights about where purchases are made and how consumers make decisions.
“Our Data Science team did incredible work and spent a tremendous amount of time and energy to understand the challenges and opportunities of combining mobile, auto and purchase signals,” says Duncan McCall, SVP & GM at Precisely and Co-Founder of PlaceIQ. “This allows us to translate and derive value from big data in a way that is accurate, actionable and privacy-minded.”
The integration of auto telematic and purchase data represents the next step in PlaceIQ’s roadmap under Precisely leadership, focused on diversifying data while preserving access and enhancing the value location intelligence brings to the market. New products utilizing the comprehensive dataset will be available to clients in June 2022. PlaceIQ customers who are interested in learning more about how to use data to understand consumer behavior can reach out to their representative at www.placeiq.com.