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

 

Scoop Business: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Scoop Business: NZ Broadcasters Launch Battle Against Global Mode ISPs

New Zealand broadcasters have confirmed they’ve launched legal proceedings against internet service providers who give customers’ access to “global mode”, which allows customers access to offshore online content, claiming it breaches the local content providers’ copyright. More>>

ALSO:

Sanford: Closure Of Christchurch Mussel Processing Plant Confirmed

The decision comes after a period of consultation with the 232 staff employed at the Riccarton site, who were told on 9 April that Sanford was considering the future of mussel processing in Christchurch. Recent weather patterns had impacted on natural spat (offspring) supply... More>>

ALSO:

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Scoop Business: Reserve Bank’s Spencer Calls On Govt To Rethink Housing Tax

The Reserve Bank has urged the government to take another look at a capital gains tax on investment in housing, allow increased high-density development and cut red tape for planning consents to address an over-heated Auckland property market. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news