Economic Impact From Games of Texas Seen in July Restaurant Foot Traffic

963 Views | 7 Replies | Last: 10 days ago by datageek
datageek
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The Games of Texas during the last week of July were reported to have 8M+ impact on our local community.
I'm quite fond of restaurants and retailers in the area and was curious if this was a noticeable impact. Typically restaurants drop in foot traffic in June and then a little more in July before coming back into their full stride in late August.

I pulled up foot traffic for what I think are the two most common types of food people eat to see if I could see anything significant. The last week of July I spot checked a handful of the top month over month increasing over June and showed plenty of restaurants in both categories with spikes in business. More surprising was the spikes I saw in Bryan.

Here's the full month of data:

July vs. June Burgers BCS
July vs. June Chicken BCS

I will have to research more into other factors that might not all be accounted for, but I would say for sure Games of Texas benefits many of the Burger and Chicken business in BCS.
Sweet Kitten Feet
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S
I'm curious where you get this data or how it's compiled.
datageek
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Sweet Kitten Feet said:

I'm curious where you get this data or how it's compiled.
As an imperial skeptic myself, I was highly unsure of the accuracy of the data sources at first. I started by pulling data from public events where the headcount was already well documented (stadium events). Next, I pulled foot traffic for restaurants (where they are reservation only type business) and tracked all reservations and had them compare their data to what I had, and finally the same thing with restaurant/retail where the volume was low to test the lower bounds of the data.

Not all locations are we able to purchase foot traffic data. For accurate foot traffic information, data is needed and collected from WiFi, GPS, Beacons, and even user motion. Panel biases are modeled and accounted for in extrapolations. If there isn't enough 3rd party data to put it all together and make it statistically significant, we can't show anything meaningful. If the business is inside a larger business it also makes it less likely we are able to purchase any data.
Sweet Kitten Feet
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S
Where are you purchasing from? What company is sourcing this data? I really intrigued as to how this is done and by whom
Captn_Ag05
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AG
If you were looking at an area like Century Square, could you tell whether the person was at Hopdoddys vs Blaze Pizza, etc.? Or could it just tell they were at Century Square?
UmustBKidding
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Google, Facebook and others build huge datasets. If place has WiFi their apps in your phone record what access points are in view and signal strength. This is at the device level not just ssid. They can tell what floor/wing of a hotel you are on. They also place and use third party beacons so if the zoo or museum you are in support ibeacon they know what painting or animal you are viewing and for how long. Don't hang out in the frozen treat asile at supermarket, you might start getting diabetic management solicitations. In theory it's anonomized but research has been showing more and more that they can unmask users from datasets.
Typically most people only buy aggerate data, like datageeks restaurant stuff but you can buy stuff sliced almost any way you want and from brokers that merge with sources they may own.
datageek
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Captn_Ag05 said:

If you were looking at an area like Century Square, could you tell whether the person was at Hopdoddys vs Blaze Pizza, etc.? Or could it just tell they were at Century Square?
Those particular two yes, we could with a high level of accuracy see foot traffic, even if they share a common interior wall. But, Post Oak Mall, I see the overall traffic vs. a specific store. And if it's a small liquor store where most people are in and out in under 7 minutes, it won't track them as a visit at all. So there are limitations and places it works best.

Under development is the impact each store has as compared to all other stores in an area like Century Square.
datageek
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UmustBKidding said:

Google, Facebook and others build huge datasets. If place has WiFi their apps in your phone record what access points are in view and signal strength. This is at the device level not just ssid. They can tell what floor/wing of a hotel you are on. They also place and use third party beacons so if the zoo or museum you are in support ibeacon they know what painting or animal you are viewing and for how long. Don't hang out in the frozen treat asile at supermarket, you might start getting diabetic management solicitations. In theory it's anonomized but research has been showing more and more that they can unmask users from datasets.
Typically most people only buy aggerate data, like datageeks restaurant stuff but you can buy stuff sliced almost any way you want and from brokers that merge with sources they may own.

"Typically most people only buy aggerate data, like datageeks restaurant stuff but you can buy stuff sliced almost any way you want and from brokers that merge with sources they may own."

spot-on, data is plentiful, and interpretation is sometimes more of an art than a science.
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