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It seems odd, but the wish to detect change often comes after the need to measure it. Perhaps that’s because detection is a much more predictive and prescriptive use case compared to measurement, which is simply explaining what has already happened.
In any event, the sooner you know about change, the sooner you can manage downside risk or improve upside opportunity. There are two main variants on the early detection of change use case:
For example, a real estate developer wants to find areas with changing population demographics indicating the need for a high-end residential development. By studying location along with census data and observing migration patterns, it is possible to measure how a given area’s population and income base are growing or contracting.
A growing population combined with an increase in average income, as we have seen in many areas of Florida, is a strong indication of investment opportunity.
Many urban centers are now younger than they were pre-COVID. Some neighborhoods are getting wealthier, others are ghost towns. The behaviorof those who live in these different areas is changing, too.
Everything from the places we go, to the people we encounter, to the brands we buy from is influenced by our mobility. All of which can be better informed by location data.
Urban neighborhoods are re-shaped by the exodus and subsequent re-entry of people to cities, as we have seen most recently in New York. And subsequently, the demographics of the populace changes.
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