Telefonica launches Dynamic Insights big data arm
10 Oct 2012: Telefónica Digital has announced the creation of Telefónica Dynamic Insights, a new global business unit dedicated to identifying and unlocking the potential opportunities for creating value from big data.
Dynamic Insights will sell analytical insights into the company’s customers to private companies and public sector organisations around the world to enable them to become more effective. It intends to develop a range of products and services using different data sets, including machine to machine data, and anonymised and aggregated mobile network data.
The first product, ‘Smart Steps’, will use fully anonymised and aggregated mobile network data to enable clients to measure, compare, and understand what factors influence the number of people visiting a location at any time.
These insights will help retailers tailor local offerings for existing stores and determine the best locations and most appropriate formats for new stores. A number of retailers are already helping with product development by providing user feedback. Smart Steps will also be able to help town councils measure how many more people visit their high street after the introduction of free car parking, farmers markets, or late night shopping.
To expand its capability and extend its market reach Telefónica has also entered into a global strategic partnership with GfK, one of the world’s largest market research companies. GfK will work with Telefónica Dynamic Insights on product development – initially in Germany, UK and Brazil - bringing marketing science expertise and a proven track record of providing business critical research and analytics services to a broad range of clients across multiple industry sectors.
“Big data is one of the key building blocks of the digital economy,” said Stephen Shurrock, Chief Commercial Officer at Telefónica Digital. “Approached in a smart and responsible way it has the potential to transform every part of business and society – providing economic growth and improving people’s lives.
“Smart Steps will help retailers better understand and meet their customers’ needs, reduce costs through improved efficiency, and make better informed decisions. It will help retailers to determine the best locations and formats for new stores and tailor product promotions in existing stores. We are delighted to be partnering with GfK, a global leader in market research, on product development.”
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