How Placed Wants To Do For Location Data What Zillow Has Done For Real Estate Info
Placed has been making its location analytics platform, Placed Insights, available to the public at no cost since the start of the year, says CEO David Shim. Here's why.
Location attribution and measurement platform Placed is making its geo-data analytics platform, Placed Insights, available to the public for free — much like Zillow allows anyone to access real estate information on individual properties.
Placed Insights has been a key part of Seattle-based location data provider since the tool was introduced in 2013. Placed, which was acquired by Snap last summer, says Placed Insights has been “utilized by hundreds of users across various industries including brick and mortar retail and restaurants.”
While a general version will be readily available publicly without registration, Placed will have a “reserved” version of Placed Insights as premium product with additional resources for clients.
Powered by 800 billion raw locations, 2.8 billion directly measured visits, and 94 million audited visits, Placed Insights has heretofore been a “premium” paid offering for Placed clients who want to “map the real-world relationships between people and places” while understanding how well their cross-platform advertising are generating foot traffic.
Like Zillow, But For Location Details
“In the same way that Zillow’s Zestimate brought home value analytics to the masses, this evolution of Placed Insights will do the same for location analytics,” said David Shim, Founder and CEO at Placed. “We see very high demand for location analytics, yet adoption has been tempered by accessibility and cost to access an accurate and robust data set. Placed is taking the unprecedented step of education and investment in the industry by making location analytics available to all at no cost.”
Among Placed’s partners, Michele Siravo, VP, Managing Director, WHERE, at Horizon Media, offered this tribute to the value of Placed Insights: “Placed is a preferred location analytics and in-store attribution partner because of the scale of their privacy-compliant audience and the insights we uncover through their insights dashboard and cross-platform measurement solutions.
“Access to Placed Insights has enabled us to enrich our strategic planning with location data – their foot traffic statistics are among a number of KPIs we ingest into Horizon’s proprietary data-driven integrated marketing platform, Infuse,” Siravo added. “Placed’s bold decision to open up its platform is an exciting opportunity for brands and agencies to gain a deeper understanding of their customers.”
So why give it away? We checked in with Shim for the reasoning behind the decision.
GeoMarketing: Why are you making Placed Insights open-sourced?
David Shim: Placed sees very high demand for location analytics, yet adoption has been tempered by accessibility and cost to access an accurate and robust data set. Placed is taking the unprecedented step of education and investment in the industry by making location analytics available to all at no cost.
This is a case where rising tides lift all ships, where the ships are agencies, brands, and partners, and the tide is Placed Insights.
What does this decision say about the wider state of location intelligence and the competition — and in many cases, “commodification” — of location data?
Placed is focused on delivering a single and common omnichannel currency for measurement across analytics and attribution.
How does this decision affect Placed’s business model and product rollout plans for this year?
This open sourced version of Placed Insights is designed to introduce location analytics to a new audience. Placed will continue to support the premium version of Placed Insights. Additionally, Placed Attribution, ad to store visit measurement, and Placed Audiences, activating against offline behaviors, will continue to remain paid products.
Did being part of Snap have any role in this decision?
No. Placed operates independent of Snap.
You compare the information being made available to what Zillow does with real estate details. How do you think — and by which kinds of entities — will Placed Insights be used?
With the launch of Placed Insights, we wanted to seed thought starters around the value of location analytics. The list that we’ve included starts with a baseline understanding of visitation and expands to more advanced concepts. We expect that this is just the start, as Placed is delivering an open platform for the measurement, and we’re looking forward to the market identifying new use cases for location analytics.
Placed insights In Action
Open access to Placed Insights is available via Placed’s website — no registration required. However, to access more in-depth insights including audience profiles, users can create a free account.
Aside from Placed Insights, the company will naturally keep expanding its remaining paid products, including Placed Attribution, which measuring the impact of ads on store visits, and Placed Audience, which enables activation based on offline consumer behaviors.
The open-sourced version of Placed Insights will update on a monthly basis starting with January 2018. Insights generated from the platform include:
- The Most Popular Businesses in the US
- Walmart (2.43 percent of all visits), McDonalds (1.73 percent), Starbucks (1.11 percent), Walgreens (1.01 percent), Subway (0.85 percent), CVS (0.75 percent), 7-Eleven (0.73 percent), Target (0.66 percent), Dollar Tree (0.63 percent), Dollar General (0.59 percent)
- When One Door Closes, Another Opens in Retail
- Winn-Dixie Set to Close 200 Stores: Publix, Walmart, Albertsons and Tom Thumb set gains in visits
- Stein Mart Exploring Strategic Alternatives: Kohl’s, Ross, Old Navy, Marshalls, and Macy’s see high overlaps
- Whole Lot of Customers: Free 2 Hour Delivery from Whole Foods
- 25 percent of Whole Foods customers travel over 13 miles to nearest store (9 percent further out than other grocery stores)
- Bits and Mortars – Real-World Businesses Visited by Bitcoin Owners (Coinbase Installed)
- Auto: Hyundai (2.3x), Nissan (2.0x), BMW(1.2x)
- Restaurant: California Pizza Kitchen (2.5x), Hooters (1.6x), Outback (1.5x)
- Retail: Apple (1.8x), Whole Foods (1.5x), Trader Joe’s (1.3x)
Netflix and Chili’s – Restaurants Most Frequented by Netflix Subscribers
- In-N-Out (31 percent higher visits), Chili’s (21 percent), Panda Express (19 percent), Jimmy John (13 percent), Chipotle (10 percent)