NEW YORK, May 01, 2018 (GLOBE NEWSWIRE) -- 7Park Data, provider of leading indicators and data transformation solutions for Investment Firms and Fortune 500 Companies, today announced the launch of Location Intelligence in partnership with Cuebiq, the leading provider of highly accurate location analytics at scale.
Location Intelligence leverages Cuebiq’s derived data from the largest database of accurate, precise and privacy compliant location data in the U.S. Cuebiq’s foot traffic and dwell time data is captured on an opt-in basis, and does not collect, store or share any PII. 7Park ingests and applies proprietary software to Cuebiq’s insights to derive multiple indices based on visit frequency and duration. Location Intelligence indices are highly accurate indicators of performance for companies and sectors based on extensive validation and backtesting. 7Park’s platform organizes and links the derived data by company and ticker to power downstream applications.
Location Intelligence can be used to:
● Build highly accurate forecasts — The combination of Cuebiq’s location data with 7Park’s ETL framework and data science results in highly accurate Leading Performance Indicators of company and sector performance.
● Benchmark performance and analyze competitors — Location Intelligence has applications beyond forecasts, including assessing customer growth, competitive dynamics, and shifts in online vs. offline activity.
● Complement consumer spending data — Location Intelligence addresses gaps that exist in other measures of consumer and activity, including credit card and POS-based sources. Location LPIs provide insight into offline activity occurring in malls, casinos, dealerships, restaurants, movie theaters, theme parks and other destinations where visit frequency and duration have a large impact on performance.
● Understand event-driven consumer behavior — Location Intelligence provides a view into the entire consumer journey, so analysts can isolate how variation in location-based behavior driven by special events, seasonality, and other factors impacts company performance.
“We identified Cuebiq as the leader in geolocation after extensive diligence on the category. Cuebiq’s data is superior due to the sheer size, accuracy and industry-leading approach to privacy,” says Rishit Shah, Chief Product Officer of 7Park Data. “We require extremely high-quality data like this to effectively power creation of accurate Leading Performance Indicators for our clients.”
Antonio Tomarchio, CEO and founder of Cuebiq, commented, “7Park’s sophisticated analytics and technology platform equips them to fully realize the inherent value of Cuebiq derived visitation data and its massive size. 7Park’s blue chip client install base and deep domain expertise make them a fantastic partner to expand Cuebiq’s offering within Financial Services.”
Location Intelligence is immediately available via bulk delivery. Expanded delivery via Excel reports and Avenue Suite will be available later this month. For more information, contact 7Park Data at sales@7parkdata.com.
About 7Park Data
7Park Data transforms data to revolutionize business decisions.
Leveraging software, data science, and engineering, our platform transforms petabytes of unstructured information into contextualized Leading Performance Indicators for over 10,000 companies globally. Our clients are the most sophisticated investment firms and Fortune 500 corporations who depend on 7Park Data to guide benchmarking, forecasting and product development.
7Park Data offers the Avenue Suite, a collection of dashboards where clients and partners access, download and visualize our portfolio of Leading Performance Indicators to make better decisions.
Avenue I/O, our developer site, is a set of APIs, SDKs and tools for data scientists, quantitative analysts and data owners. Avenue I/O provides open source tools to quickly and easily build analytical products powered by our APIs.
7Park Data was founded in 2012 and is headquartered in New York City.
About Cuebiq
Cuebiq is a next generation location intelligence and measurement company, leveraging the largest database of accurate, precise and privacy compliant location data in the U.S. to help decision makers map and measure the consumer journey and to support non-profit organizations and academic institutions on community-focused causes through our Data for Good program. Cuebiq’s leading data intelligence platform analyzes location patterns of a large number of anonymous, opted-in users in partnership with more than 200 mobile apps, allowing businesses to glean actionable insights about real-world consumer behaviors and trends.
Cuebiq was founded in 2016 and is headquartered in New York with offices in San Francisco, Chicago, Italy and China.