WASHINGTON (dpa-AFX) - Foursquare, the company first known for its location-based social app, is launching a new data dashboard for retailers and brands.
Foursquare Analytics is turning the nuances of consumer behavior into charts. It reportedly packages all of the company's foot traffic data into a web dashboard that includes 93 million mapped locations. It lets companies get an up-to-date insight into how consumers are behaving in real life.
Foursquare CEO Jeff Glueck said, 'We're kind of the Google Analytics of the world. We're measuring who's up, who's down, which demographics are going to which brands.'
The dashboard will show important trends like customer loyalty, the frequency of a particular group's visits to a given store, and how foot traffic trends look in different markets, among others. It also compares a business's foot traffic to that of its competitors.
Glueck added, 'This stuff is done in archaic ways right now. We want to be a big-data, really powerful way of looking at the real world economy. We think there's a ton of problems that can be solved this way.'
With Foursquare Analytics, the company reportedly is targeting marketers' in-house analysts and strategists that dissect patterns in foot traffic for brands.
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