Retail HOW FOOTFALL
ANALYTICS CAN HELP BUSINESSES HARNESS
DATA-DRIVEN INSIGHTS FOR FUTURE-PROOFING
By Nazif Jahanzeb, IoT product manager, Glide Group. W
ith the business landscape constantly changing, companies are regularly searching for ways
to not only remain relevant, but to gain an advantage over competitors. From bricks-and- mortar businesses to purpose-built student accommodation (PBSA), multiple dwellings units (MPUs) and Residential blocks, any structure that sees regular traffic passing through its doors needs to understand how to attract and retain customers. One increasingly popular answer lies in leveraging data analytics – using information generated by customers to understand them better, and cater towards their developing needs. In today’s digital age, access to data is an
essential game changer for businesses. As the volume of available information and customer data grows, businesses must harness these resources to align and refine their strategies, through the possibility of making more well-informed and accurate decisions. By leveraging information in a meaningful way, companies can gain valuable insights into their customers’ behaviour and preferences. Tis can then be used to identify trends, target customers more effectively, and improve efficiency. In a recent UK SAGE report, it was estimated that 92% of
businesses report that technological advancement is essential to their sustainability and growth, while 88% agree that it is pivotal in their business resilience. It is estimated that the digitalisation of UK firms would inject £448bn into the UK economy. By employing the
20 | July/August 2023
right tools and techniques for gathering and analysing data, businesses can remain agile and productive, and future-proof their organisation.
Staying one step ahead In the wake of the Covid-19 pandemic, many brick-and-mortar businesses had to rely on occupancy monitoring, having been given strict limitations on the number of people they could allow inside a building as part of their safety protocols. A few years on from the pandemic and occupancy monitoring has evolved into footfall analytics. Organisations are deploying infrared sensors and smart cameras, which can leverage artificial intelligence (AI) to monitor visitor numbers without any associated labour
costs or the possibility of human error. However, more importantly than simply counting the number
of people in a room, footfall analytics is the process of capturing, analysing and learning from data collected on those people. With a range of applications, this solution can help businesses identify trends in customer behaviour and foot traffic over certain periods of time, enabling them to continuously fine-tune their operations for long-term success. In a competitive environment that is heavily reliant on technology,
businesses must continue to find new ways to improve, and for brick-and-mortar business in particular, footfall analytics has become an important solution. By incorporating these analytics into their operations, businesses can ensure that they are well-prepared
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