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

 

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Economic Update: RBNZ Says Rate Cut Seems Likely

The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell. More>>

ALSO:

House Price Action Plan: RBNZ Signals National Lending Restrictions

The central bank wants to cap bank lending to property investors with a deposit of less than 40 percent at 5 percent and restore the 10 percent limit for owner-occupiers wanting to take out a mortgage with a deposit of less than 20 percent, according to a consultation paper released today. More>>

ALSO:

Sparks Fly: Gordon Campbell On China Steel Dumping Allegations

No doubt, officials on the China desk at MFAT have prided themselves on fashioning a niche position for New Zealand right in between the US and China – and leveraging off both of them! Well, as the Aussies would say, of MFAT: tell ‘em they’re dreaming. More>>

ALSO:

Loan Sharks: Finance Companies Found Guilty Of Breaching Fair Trading Act

Finance companies Budget Loans and Evolution Finance, run by former 1980s corporate high-flyer Allan Hawkins, have been found guilty of 106 charges of breaching the Fair Trading Act for misleading 21 borrowers while enforcing loan contracts. More>>

ALSO:

Post Panama Papers: Govt To Adopt Shewan's Foreign Trust Recommendations

The government will adopt all of the recommendations from former PwC chairman John Shewan to increase disclosure and introduce a register for foreign trusts with new legislation to be introduced next month. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news