Foursquare is best known for its social check-in application that allows users to check-into places they love, like restaurants, hotels, stores and so on. The app makers are now beginning to leverage all the massive data they have gained over the years in new and fantastic ways.
Once you have data from over 100 million public places, there is a lot you can do. Foursquare for instance, is now leveraging its capabilities towards letting retailers know about the amount of foot traffic they have been attracting. The platform is out there for retailers with any number of stores — as opposed to the previous system, wherein this analytics data was only available to customers when they went and directly dealt with Foursquare.
The company is now making this analytics tool available for everyone with Foursquare Analytics. As can be expected from an analytics tool put forwards by Foursquare retailers will be able to foot traffic data associated with their stores on a national or citywide scale. What’s more, they will also be able to compare the same against their competitors and even their category as a whole.
The last facility will enable them to know whether they are running above or below the average for the category they operate in. Meanwhile, Foursquare will source all this data through its existing database of locations. This particular database is quite extensive and is the driving force behind applications like Snapchat.
The new services is very likely to pull customers as retailers turn to technology to help them discover their strengths and weaknesses. With early partners like TGI Friday’s and Taco Bell, the new analytics platform is open to all and can b e deployed to improve your foot traffic.