Inrix analytics platform helps with urban planning, retail site selection and advertising
May 6, 2015
Washington-based Inrix, a provider of transportation intelligence and connected car services worldwide, is introducing an analytics platform to tap big data from the connected car for urban planning, retail site selection and advertising measurement.
Through analysis into the movement of people, vehicles and commerce in cities worldwide, Inrix Insights can provide business and government with the ability to gain insight from the connected car for use in planning new roads and transit systems, locating a business or measuring the results of a marketing campaign. The platform leverages real-time GPS data from a growing network of more than 250 million vehicles and devices.
"Inrix Insights exemplifies how the internet of things is transforming every aspect of business, government and society," said Bryan Mistele, president and chief executive officer of Inrix. "An impact that extends beyond the products and services consumers use every day to how business and government design, build and ultimately measure the impact of those same products and services."
The first two services on the platform are Insights Trips and Insights Volume. Insights Trips is a data-as-a-service (DaaS) application for understanding population movement across a metropolitan area, between two locations and at various points along the way. Insights Volume is a global population movement service that provides insight into how many vehicles typically pass a location by time of day, day of week at a location as well as actual vehicle counts on a specific day, time and side of the road. Together, these services represent a breakthrough in origin-destination and vehicle count analysis that reduces cost and complexity while increasing the accuracy of data and reliability of information.
Available to customers in the USA and Europe, these services change how cities, businesses and advertisers can anticipate the movement of people and measure it across a region, around a business or past a billboard.
As governments work to address population growth in cities, Trips and Volume provide agencies with a scalable, cost-effective and immediate way to predict, plan and prioritise investment in roads and transit across their entire transportation network infrastructure.
It provides less reliance on road-side counters or automated traffic recorders. Insights Volume provides a way to understand traffic volumes by day of week, time of day and by vehicle type (passenger versus freight) across the entire road network.
Insights Trips uses anonymised GPS data from actual trips across a region to provide insight used to identify trends and calibrate urban planning models. With accurate trip analysis of major roads in and out of urban areas, it can help cities reduce congestion costs for businesses, better manage flows of people in and out of events and evacuate areas faster during an emergency.
In addition to being foundational to smart cities, the services can help retailers work smarter. For example,Insights Volume eliminates the guesswork of determining how many people pass potential store locations on a daily basis with detailed data on traffic count by time of day, day of week and the side of the road. It also can be used to measure the impact of marketing campaigns helping retailers understand if promotions were effective beyond store sales with immediate insight into the impact on traffic to competitors' stores.
Similarly, Insights Trips helps businesses better understand their customers and how they travel to their stores when planning advertising and promotional campaigns. For example, a retailer can use this information to understand how long it takes customers from different parts of town to get to their store, decide when and where to open a new one or pinpoint advertising and other marketing efforts to their customers on billboards, transit and other channels.
"Insight Volume and Trips really helped us better understand which of three candidate sites would have the highest return on our investment, before we laid out our money," said Pat Augustine, Planet Fitness franchisee. "No longer do retailers need to guess about the volume and origins of their prospective customers to a specific retail location."
Tom Blazer, CEO of ESite Analytics, added: "Our company serves some of the fastest growing quick service restaurants in the industry. Five Guys is a great example. We can't afford to waste their time or run the risk of recommending poor real estate investment decisions. With the new data from Inrix Insights powering our Trip2Trade trade area creator, we can both eliminate poor candidate sites from consideration and help take the guesswork out of our site selection recommendations. Inrix Insights ensures better understanding of the impact of traffic volume as an analytic data point along with demographics of prospective customers."
The platform benefits to businesses also extend to advertisers. Insights Volume takes the guesswork out of measuring the impact of the $6.9bn billboard advertising industry. Advertisers can now understand how many people were exposed to an ad and for how long in traffic based on time of day, day of week. With this insight, new advertisers, who demand third party measurability, can obtain the post campaign analysis they have come to expect from other advertising media.
"The Traffic Audit Bureau's mandate is to lead measurement for the US out of home advertising industry," said Jeff Casper, SVP at the Traffic Audit Bureau. "We look forward to extending our relationship with Inrix as we together bring out next generation planning and measurement insight that brings the highest level of transparency and accountability possible to the industry."