The more data that's mined from consumers, the more personalized experiences businesses can provide, which ultimately impacts the bottom line.
One of the global trends that started in 2013 and remains popular today is physically tracking consumers in brick-and-mortar stores and then selling that data to retailers. With GPS technology in nearly every cell phone, it's near impossible to not gain insight into consumer actions via their geo locations.
Los Angeles-based startup Sense360 is moving in on this consumer tracking trend for the fast-food industry and just announced $7 million in its first round of funding. With approximately 20,000 fast-food locations using its tech, Sense360 is seeking to provide deep insights to those restaurants about consumer behavior to learn what works and what does not work.
For any consumer worried about these technologies invading personal details on a serious level, Sense360's chief executive officer, Eli Portnoy, shared his thoughts. He said, "We only work with apps that have a legitimate reason to collect location data, and all participating apps must get user consent to acquire and share the location data. We also do not collect personally identifiable information. In fact, we intentionally obscure sensitive data like wifi access points so that we cannot access that information, ensuring added privacy."