Commercial real estate professionals are increasingly turning to data and analytics to make informed investment decisions, assess asset classes, and develop location intelligence. This trend is driven by the growing availability of big data, including foot traffic data, which provides valuable insights into consumer behavior and market trends.
Here's why foot traffic data is crucial for commercial real estate analytics:
- Predictive Insights: Foot traffic data reveals how people are using a specific area, uncovering trends in frequency and length of visits, and helping CRE investors and developers predict future behavior.
- Improved Market Analysis: Foot traffic data complements traditional CRE data sources like property type and tenant data, providing a more comprehensive understanding of market dynamics.
- Informed Site Selection: By analyzing foot traffic patterns, CRE professionals can identify optimal locations for new developments and make data-driven decisions about existing properties.
- Competitive Advantage: In a crowded market, foot traffic data allows CRE professionals to differentiate themselves by offering investors deeper insights and a more nuanced understanding of market opportunities.
In the high-stakes world of commercial real estate (CRE), success hinges on maximizing investment opportunities. Traditional data like property type and tenant information is no longer enough. Today, savvy CRE investors leverage foot traffic data to gain a crucial edge.
Foot traffic data goes beyond transactions, revealing how people actually use an area. By analyzing real-time location data, investors can measure average foot traffic, track trends in visitor frequency and duration, and even understand how migration patterns affect population density. This deeper understanding of behavioral trends helps them make informed decisions about where to invest, unlocking valuable insights that were previously unavailable.
Foot traffic data is not just about numbers, it's about understanding the future. It allows CRE professionals to anticipate how people will use spaces, making them vanguards of investment for the world we build. This data is no longer a luxury, it's essential for making smart decisions and securing a competitive advantage in the evolving CRE landscape.
How to work with foot traffic data in commercial real estate analytics
Our datasets can help you understand foot traffic to almost any location. Unacast helps you leverage the power of foot traffic data through our three-step process:
Step 1: Gather raw data
We utilize GPS location data for its superior accuracy, providing precise details about pedestrian activity in any defined urban area, Point of Interest, or venue.
Step 2: Contextualize the data
Our advanced algorithms transform raw pings into meaningful events, identifying dwelling time, travel patterns, and assigning relevant retail venues and brands.
Step 3: Create curated foot traffic datasets
Unacast offers three datasets tailored to your specific needs: Foot Traffic Data, Trade Area Data, and Cross-Visitation Data.
Step 4: Unacast's team of data scientists and business strategists further assists you by:
- Optimizing Data Visualization: We help you gain valuable insights from data by presenting it in a clear and actionable format.
- Developing Targeted Strategies: Our experts guide you in asking the right questions to extract the most valuable insights from foot traffic data and develop data-driven strategies for your specific goals.
By leveraging foot traffic data and Unacast's expertise, commercial real estate professionals can make smarter decisions, maximize investment opportunities, and gain a competitive edge in the market.
Additional Resources:
- How I Use Location Data as a CRE Investor
- How CRE Investors Use Mobility Data - Part One
- How CRE Investors Use Human Mobility Data - Part Two
- Data-driven decision making in MFR investment and operation
- Geospatial Data Analytics: Use Cases for Your Business
Schedule a meeting with a Unacast commercial real estate analytics expert today to unlock the power of foot traffic data for your business.
