The global data location market is both young and complex. A significant barrier to access for many end clients—including retailers, restaurateurs, investors, supply chain organizations, and others—is the fractured nature of the market, specifically, the need to acquire data from one source and consulting and solutions execution from another. Today, Unacast, a leading global location data and analytics company, and Lighthouse by BCG, Boston Consulting Group’s high-frequency data and analytics platform, announced the formation of a strategic partnership that will provide a holistic way to access data, services, and custom solutions all in one place.
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With anonymized and aggregated data collected via GPS, Unacast records visits to a store, restaurant, or other location, providing insights into the days and times that it sees foot traffic, how much, and for how long. Lighthouse then works with BCG’s Retail Catalyst team to leverage that data for a variety of use cases, including real estate forecasting and optimization. With predictions of consumer demand at specific locations, clients can determine the best places to open new stores or restaurants or identify which of their existing locations should be retained and/or expanded.
Additional use cases include:
- Restaurants deciding whether to focus their business models on delivery or dining in (such as during the pandemic)
- Retailers or restaurants planning how to staff on specific days and at specific times
- Retail or restaurant chains assessing cross-shopping behavior in order to compare performance at their own locations or that of their competitors
“We are pleased to be partnering with Unacast, whose industry-leading mobility data enables us to build predictive models and other forecasting and optimization tools that zero in on our clients’ specific needs and ultimately provide them with the bespoke solutions that they need to address their unique problems,” said Nicholas Goad, a managing director and partner at BCG.
“Lighthouse by BCG is a valuable global partner. Its specialization in data science and AI can help take Unacast’s data to a broader market, allowing the clean, aggregated data to inform insights that will help companies make better strategic decisions on a global scale,” said Thomas Walle, CEO and co-founder of Unacast.
In 2022, the partnership will continue to build on its expanding presence in international markets as well as in the US.
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