Richard Cantwell, Principal Consultant at Gamma, recently spoke to the Business Post about the science of where and the value of geographical data for industries like retail and insurance.
Over the last 16 months, there has been a huge shift in the daily lives of Irish people, with changes to how they behave, as well as where they move to and from. In fact, many continue to work or study (and spend) where they live.
It is undisputed that COVID-19 and the associated lockdowns have had an impact on everyone and, in turn, every place. Of course, there is also every likelihood that these changes will persist and therefore businesses need to be prepared and plan accordingly.
In particular, the retail landscape is one that has been and is being redrawn as people adapt their work routines, establishments reopen their doors and online shopping levels settle back to normal.
Whatever the future holds, being able to measure and assess demand and behaviour will be vital in order to determine next steps. So too will the decisions that businesses make over the next 16 months in relation to their store networks, omnichannel activities and marketing efforts.
Location intelligence, consisting of high-quality data, is one way to strengthen and better inform such decisions. At Gamma, we have been analysing and will continue to analyse the impact of the pandemic on movement, behaviour and demand.
Such insights support the science of where and could prove invaluable for businesses in determining what next.