CHICAGO -- A new partnership between Technomic Inc. and location platform GroundTruth will allow the data firm to add new capabilities to its Transaction Insights product.
Transaction Insights, a sales performance-tracking service, features ongoing purchase data from more than 3 million consumers who represent about 18 million monthly foodservice visits and market-level data from the leading 200 restaurant chains. With the integration of GroundTruth’s database of 3 million mapped business locations and 75 million mobile devices, the platform will more closely report on traffic intelligence by daypart. The collaboration with the New York-based technology company will also allow users to leverage location data into comparable-store performance modeling.
Technomic customers will now be able to answer questions such as:
- Which restaurant chain is winning breakfast in Dallas?
- Which quick-service restaurant is gaining market share against leading competitors? How has it grown business across dayparts, and what initiatives may be driving this?
- How has a new menu item or media campaign affected foot traffic?
“Understanding traffic at the daypart level can inform competitive brand strategy, especially related to the menu and daypart-specific promotions,” said Sara Monnette, vice president of innovation for Technomic. “GroundTruth provides us with a large, reliable location data set, which in turn allows us to provide our customers with unprecedented insight into their business at a very granular level.”
Technomic, a Winsight company and a sister firm of CSP, offers major research studies, management consulting solutions, online databases and simple fact-finding services. The Chicago-based organization has clients in the restaurant, foodservice, retail and food manufacturing and distribution industries.