Billboard Price Justification
Big Data is completely changing outdoor marketing and media. Traditionally outdoor media pricing was priced per “impression.” This was based on an estimate of how many people would see the ad in any given day. But now, companies can use Big Data to justify its pricing model for advertising on billboards, benches and the sides of buses. How do they do it? They use GPS, “eye-tracking” software and traffic pattern analytics to determine exactly what advertisements will be seen the most and which will be the most effective.
RFID tags are being used in lift tickets. Why? To help cut back on fraud, and even wait times. They help ski resorts understand traffic patterns, identifying which lifts and runs are the most popular, at which times of the day, and can even track individual skier’s movements – which could be helpful if a skier gets lost.
And even the skiers and snowboarders can access their own data. Websites and apps will display your stats – how many runs you slalomed to how many vertical feet you traversed. This could spark some good old fashioned competition – challenge your friends and family!
Since this is a budding (pun intended) industry, there still is not a lot of data collected within the industry, however it’s on the rise! Analytics can be used for growing the plants in much of the same ways as many other agricultural companies.
But the retail side is actually benefiting greatly from the analytics too. They can identify when the peak times are for purchases, to optimize staffing. They can learn more about their customers and what they want. They can identify the products they sell with the greatest margins of profit – this way they know which products their budtenders should be pushing. For more on marijuana analytics, check out this podcast.
Find the Hipster Spots
Or don’t. Whether you want to hang with the hipsters or avoid them, Yelp has you covered. Use the nifty search trick, “Word Map” to search words that are used in reviews – such as “hipster.” The map will plot locations in cities for the reviews in red. The darker the red, the higher the concentration of that word used in reviews – and other handy things like hipsters, bicycles and dogs.
Big Data Bras
Website True&Co asks, “Can big data really make a better bra?” The answer is yes. They use big data to help women find better fitting bras. How? Stats show that most women actually wear the wrong bra size. So their customers fill out a “fit” questionnaire on the site. Based on the responses, an algorithm suggests a selection of bras to choose from. They then also use that data to develop and design bras based on customer feedback.