Cuebiq Workbench is your solution to myriad business challenges. It enables you to easily source mobility data and incorporate it into your analyses, whether you work in finance, consulting, or the public sector. Check out three use cases below for how you can leverage Workbench to upgrade your analytics!
1. Trend Analysis
With Workbench, you can leverage mobility data to use past consumer behaviors to predict the future. By utilizing offline data, you can understand the visitation trends in a specific sector or vertical, track store openings and closings, and identify industry trends before your competitors do. This information serves as fuel to build investment models, which you can use to predict how different markets will fare in the future. Ultimately, you can understand how companies are performing before earnings reports come out, which can guide your investments.
For example, a hedge fund could use footfall to an entire chain of Macy’s locations as a gauge for sales growth or brand health. By analyzing YOY growth in foot traffic across a chain of Macy’s on a daily basis, they can identify a trend line and validate the data against a groundtruth. Such in-depth sector analysis can inform their investment decision in Macys.
2. Visitor Profiling
Using our platform, you can gain insight into the visitors of locations. Workbench will be able to tell you how far they traveled, how loyal they are to certain locations, and what their demographics look like as well as how that compares to the competitive set in the area. Such information can help you build more robust visitor profiles.
For example, a consultant looking to revamp a chain of restaurants could look at how far consumers are traveling to the restaurant locations to determine whether they truly “seek out” the restaurant or whether it just happens to be convenient to them — say, because it’s next to the Target they always visit. Such insights can help the consultant craft specific business strategies tailored to these visitors, such as co-marketing activities with Target, to increase visitation to the restaurants.
3. Data Validation
Looking to understand the full mosaic of a company or market? Adding location data as one of your alternative data sets can help you paint a complete picture and validate trends you’re already seeing. Within Workbench, you have the ability to discover and combine data sets to create, analyze, and optimize insights.
For example, you can marry location data with sensor data to get more granular and confirm trends in the data. Or, you could leverage transaction data together with Cuebiq location data to gain full insight into the consumer journey, from the point of viewing an ad, to visiting a store, to making a purchase.
These are just some of the many use cases Workbench offers to help you maximize your analytics efforts.
Set up a chat with an expert on our team so you can start activating these use cases today.