Dynamic datasets power businesses with unique insight into populations and the way they move for smarter, location-based decision-making
BURLINGTON, Mass.–(BUSINESS WIRE)–#dataenrichment—Precisely, the global leader in data integrity, today announced the launch of Dynamic Demographics, a new data offering that combines the power of Precisely’s rich portfolio of location data with time-based mobile location data. This combination allows businesses to better understand human mobility and how the population and business opportunities within an area changes as people move from one location to another throughout the day.
Traditional demographic data is static – describing only the resident, night-time population of a small area – meaning that businesses lack insight on the, often crucial, reality of daytime population during trading hours. Adding mobile location data transforms demographics data into a dynamic dataset, revealing the changing profiles and flows of different types of people at a specific location and showing how these vary at different moments in time.
Insights from dynamic population profiles have a huge breadth of applications across many sectors. Uses range from informing site selection of new retail stores or banking branches, to determining how many people are at risk from a natural disaster, to planning more accurate deployment of public sector services to those that need them most. It can even assist decision-making for businesses currently assessing the effects of COVID-19 policies and the resulting changes in human mobility.
Outdoor advertising services company, Ocean Outdoor Netherlands, are already using the powerful insights derived from Dynamic Demographics to better target location-based marketing for their clients. “Understanding human mobility patterns is a key consideration for our business,” says Marlies Smits, Head of Marketing at Ocean Outdoor. “Dynamic Demographics from Precisely helps to provide actionable intelligence about the demographics of consumers that visit particular locations. With that data we can better understand and target key customer profiles via our displays and be of better service to our clients – all whilst driving campaign impact, awareness, and innovation with our digital out-of-home (DOOH) advertising.”
Mobility data is notoriously difficult to process – the data files are extremely large, requiring sophisticated methods and highly-skilled data scientists to distil into usable insights. Dynamic Demographics simplifies mobility data into an easy-to-use, plug-and-play data product enhanced with accurate demographic profiles. These can range from information on age, purchasing power, socioeconomic group segmentation, and much more. Precisely’s mobility data is also generated from GPS locations, rather than more typically used cell tower triangulations, meaning that it’s usually accurate to within 20 meters.
“Dynamic Demographics delivers unique insight into not only population movement, but how it differs amongst various demographic groups,” says Dan Adams, Senior Vice President – Data Strategy & Operations for Precisely. “The ground-breaking combination of Precisely’s extensive demographics portfolio and high-quality mobility data raises the bar for demographic data products. This information provides never-before-seen insight that enables our customers to make impactful, trusted decisions with the context of how populations move between locations.”
Dynamic Demographics is now available in the Netherlands, with availability coming soon to Australia, the United Kingdom, and Germany.
Learn more about Dynamic Demographics here.
Dynamic Demographics provides information on population movement using human mobility data collected from mobile devices where users have provided explicit consent for data to be used this way.
No Personally Identifiable Information (PII) is contained in this product, nor is it possible to reverse engineer PII from the content contained within. All PII regulations, laws and best practices are followed in the building of this product, and Precisely continues to monitor and follow developments in this space.
Precisely is the global leader in data integrity, providing accuracy, consistency, and context in data for 12,000 customers in more than 100 countries, including 97 of the Fortune 100. Precisely’s data integration, data quality, data governance, location intelligence, and data enrichment products power better business decisions to create better outcomes. Learn more at www.precisely.com.
Emma Forrest (Europe)