Business Improvement districts
BIDs are one of the key drivers in town & city regeneration and economic development. Their role in reviving the high streets and town centres is undoubted, there are over 200 BIDs in the UK and 52 in London alone.
BIDs often lead on delivering projects that increase footfall and dwell time, create safer environments, and dispel bad perceptions.
An Evening & Night Time Economy study conducted for Stratford Original BID
Smart Urban Management works with BIDs to help create a deeper understanding of visitors including footfall numbers, dwell times, sentiments, competing areas, and spend data. Our analytics work allows BIDs to have more a focussed and targeted business plan with assurances that money is being invested in the key areas.
We can assist retailer BIDs/forums prepare targeted marketing campaigns that can increase revenue and footfall to their businesses.
Data Analytics & Metrics
Big data analytics is driven by the application of various metrics to support the decision making progress of stakeholders. These metrics help urban practitioners to make informed, accurate and sustainable decisions. Smart Urban Management (SUM) data sets include:
- Cellular data
- Social Media data including Twitter
- Open source - public data sets (CENSUS etc.)
- Travel data
- Card transactions
Depending on the focus and outputs of the projects, SUM is able to collect and process extensive information and granular details on the following metrics:
Movement
- Mobility patterns – directional footfall numbers, desired paths etc.
- - Origin and destination area of visitors
- - Transport modes (public, private, cycling, walking etc.)
- - Distance and time travelled
- - Dwell time
- - Patterns around ‘points of interest’
- - Congestion and bottlenecks
- - Hotspots of activity
- - Under-used areas and times
- - Key transit places
- - Catchment areas – (origin of visitors)
Behaviour
- Socio-demographics (ethnic origin, social - status etc.)
- - Discussion topics – around events, incidents, points of interest etc.
- - Sentiments analysis
- - Semantic links – identify competing places
- - Security perceptions
Economics
- Transaction Volume
- - Commercial diversity (sector break up etc.)
- - Business hours
- - Commercial real estate rents
- - Commercial capacity – bench-marking sentiments against transaction volumes
- - Spend satisfaction
These metrics do not include those that can be measured using existing data sets urban practitioners may already possess such as those related to licensing, planning, enforcement, crime etc. New data can be analysed together with existing data to identify bespoke places and the relationship patterns occurring within the urban realm.
SUM is pioneering the application of big data analytics to place making. For further information please get in touch using the get in touch tab at the top or the email address below.