In a recent conversation with ClickZ, Placed founder and CEO David Shim discussed the latest developments in the burgeoning location measurement industry. Gaining true value from location data starts with accurate location measurement. But how do we cut through the noise in location data to find the correct insights that help drive marketing strategies? David discusses this issue in the ClickZ article, The Evolving Location Measurement Industry. Below is an excerpt from the post:
In early experiments we found that 90 percent+ of the time assigning the closest place to a latitude and longitude resulted in an incorrect match. This level of noise impacts a marketer’s ability to effectively leverage location insights into mobile ad targeting decisions. On the flip side for a publisher the ability to target based on a mobile device’s location is generally limited to 100 meters, the length of a football field.
To more accurately determine location, Placed looks at a series of features that include latitude and longitudes, location source, accelerometer, gyroscope, compass, etc. By treating location as more than a single value, we are able to cluster sets of data points to infer a more accurate location. This location is then contextualized to a set of nearby places, which are determined by a set of features including proximity, popularity, and category.
Check out the full article to read more on the changing landscape of location measurement.