In a new partnership, Foursquare will be teaming up with Web3 leader Constellation Network to provide better insights into restaurant and retail business traffic trends.
Constellation Network is a unique Web3 framework that allows everyone to build and conduct a business on the blockchain. The platform features a free, open-source infrastructure and a robust ecosystem of products, projects, and tools designed to help individuals and businesses succeed in the emerging stakeholder economy.
“We’re thrilled to partner with Constellation,” said Stu Kendall, Director of Product Marketing at Foursquare. “Data privacy is one of our top priorities so it’s extremely important that all of our partners share those same values. They’ve built a great product that clearly serves a need in the market – all while maintaining the highest level of data security for their constituents.”
Central to its partnership with Foursquare is a Constellation product called the Dor Traffic Miner (DTM), a battery-operated device that you place in a doorway to count anonymous foot traffic data. Along with the high-quality data collected by Foursquare Visits – our location-data solution for understanding target audiences, traffic patterns, competing markets, and more – the DTM data is used as an input of ground-truth data to help improve the visit methodology for accuracy and precision. Our Visits platform is then used to help understand macroeconomic trends of consumer behavior and see how it may be impacting businesses.
This partnership is part of a continuing effort to strengthen customer analytics and media targeting, while maintaining a high level of privacy and data quality. Constellation and Foursquare stand out as companies with strong and similar values:
- Data quality: Measurable insights without bias help businesses create smart data models.
- Privacy: Constellation’s DTM tracks foot traffic anonymously, while Foursquare Visits also anonymizes its foot traffic data.
- People first: Constellation strives to empower businesses to gain control and ownership, just as Foursquare aims to use data to build a world that works best for people and the way they move through the world.
“Constellation is pleased to partner with Foursquare to provide additional validation of their world class venue visitation data with our DTM foot traffic data,” said Ben Jorgensen, CEO of Constellation Network. “Together we create incredible value for businesses who need to understand traffic flows and rewards for those who provide the data.”