Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Foot Traffic Forecasting App Corrals Public for Businesses

Foot Traffic Forecasting App Corrals Public for Businesses

Media release: May 28, 2014

Forecasting foot traffic for hospitality venues to better manage their businesses and make the most of the crowds is the vision of digital startup Floc.

Founded in startup accelerator Lightning Lab, Floc CEO Tim Grunshaw says that one of the biggest problems with running a restaurant or storefront is the guessing game of who is going to show up, and when.

Floc is a smartphone app that anonymously tracks urban cellphone data to build predictive models around how operators will be affected by pedestrian traffic over a given timeframe such as the next few hours, or days.

With Floc, managers can make smarter business decisions about staffing, stock and sales as well as raise profit margins.

“When your business lives and dies by the people who walk through the door, you have to adapt your whole operation to the fluctuations in foot traffic,” says Grunshaw.

“We’ve created a way to have an idea of your numbers ahead of time, so you’re always ready for the rush before it hits.”

In the three months at Lightning Lab, which concludes with a Demo Day this week, Floc has fine-tuned their business model, further developed the technology and targeted its first customers.

Floc is finalising a trial version of the product that will allow it to run trials across New Zealand in the coming months and plans to begin testing international markets later this year.

“It is like the weather forecast, except instead of predicting sunshine and cloud we are predicting foot traffic and customers,” says Grunshaw.


http://floc.in/


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Maritime: Navigation Safety Review Raises Big Issues For The Govt

Shipping Federation: "The reports makes it clear that the ratification of the Maritime Labour convention (MLC) is long overdue. Only when the MLC is ratified will Maritime NZ be able to inspect and enforce the labour conditions on international ships visiting our ports." More>>

ALSO:

100 Years After Einstein Prediction: Gravitational Waves Found

For the first time, scientists have observed ripples in the fabric of spacetime called gravitational waves, arriving at the earth from a cataclysmic event in the distant universe. This confirms a major prediction of Albert Einstein’s 1915 general theory of relativity and opens an unprecedented new window onto the cosmos. More>>

ALSO:

Farming: Alliance Plans To Start Docking Farmer Payments

Alliance Group, New Zealand's second-largest meat cooperative, plans to start withholding some stock payments to its farmers from next week to bolster its balance sheet and force suppliers to meet their share requirements. More>>

ALSO:

Gambling: SkyCity First Half Profit Rises 30%, Helped By High Rollers

SkyCity anticipates the Auckland business will benefit from government gaming concessions which were triggered on Nov. 11 in recognition of SkyCity’s $470 million Convention Centre development. Morrison said the concessions would allow the Auckland business to lift its activity during peak period, noting it had a record revenue week over the Christmas and New Year period. More>>

ALSO:

Money For Light: Kiwi Scientists Secure Preferential Access To Synchrotron

Science and Innovation Minister Steven Joyce today announced a three-year investment of $2.8 million in the Australian Synchrotron, the largest piece of scientific infrastructure in the Southern Hemisphere, to secure preferential access for Kiwi scientists. More>>

Telco Industry Report: Investment Hits $1.7 Bln A Year

Investment in the telecommunications sector is $1.7 billion a year, proportionately one of the highest levels in the OECD, according to a report released today on the status of the New Zealand sector. More>>

ALSO:

PGPs: New Programme Sets Sights On Strong Wool

A new collaboration between The New Zealand Merino Company (NZM) and the Ministry for Primary Industries (MPI), announced today, aims to deliver premiums for New Zealand's strong wool sector... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news