Companies want insight into whether their ads have any effect on consumers’ driving route and what they purchase along the way. Delivering such insight is how Locately, a start-up founded by two MIT PhD graduates, is getting paid. And in the process of commercializing their technology, Locately is winning millions in grants from the U.S. government.
In a May 13 interview with Locately co-founder and CEO, Dr. Thaddeus Fulford-Jones (former Hugh Hampton Young fellow), we started off our conversation watching a presentation that Fulford-Jones narrated of Nikki, a woman who volunteered to share her location data via the GPS chip in her mobile phone.
Location analytics revealed that Walmart (WMT) was a favorite shopping destination, with Nikki willing to drive past rivals Target (TGT) and Costco (COST) just to get there. But on Friday afternoons after leaving work early, she would head to the Family Dollar (FDO) instead, to avoid the after-school rush at her favorite Walmart. Continue reading the article on Forbes.