PlaceIQ layers observed consumer behavior and movement data on top of a first dimensional base map of location data, ingesting somewhere north of 1 trillion data points to build profiles of audiences.
IRI is a major market intelligence provider that leverages big data to provide insights into different sectors, including CPG, OTC healthcare organizations, retailers and media companies.
Partnering with IRI will expand the amount of information PlaceIQ can attribute to customer behavior patterns, and will help identify preferred brands and places of interest for CPG clients.
“Consumer insights are a CPG marketer’s best weapon,” states Duncan McCall, CEO and co-founder of PlaceIQ. “At a high level, once products from CPG brands enter the supply chain, manufacturers only gain clarity on the performance of their marketing efforts when those products reach the cash register.”
In an interview with McCall earlier in the month, he made it clear that there is a “massive difference between data used for marketing and data used for analytics and understanding.”
The partnership with IRI appears to provide both kinds of data, allowing brands to get more accurate location targeting, and to mine the data for deeper insights about consumers’ path to purchase.