Big Data For Retailers

Big Data For Retailers – Retailers can determine the viability of consumer demand by using an array of data points including the Market Potential Index (MPI). The MPI measures the relative likelihood of the adults in the specified trade area to exhibit certain consumer behavior or purchasing patterns compared to the U.S. An MPI of 100 represents the U.S. average.
 
In our experince, an MPI above 200 is a good indicator of demand. We generated an MPI report using a .25 mile radius around 1300 Alabama Avenue SE and several restaurants had an index above 200 including White Castle, Popeyes, and Church’s Chicken. Companies like Turnstyle Solutions , Walkbase, and Euclid Analytics are going one setp further by providing retailers with location based data so retailers can determine customer habits and customize their marketing plans.