A big data approach to augmenting the Huff model with road network and mobility data for store footfall prediction

Conventional methodologies for new retail store catchment area and footfall estimation rely on ground surveys which are costly and time-consuming. This study augments existing research in footfall estimation through the innovative integration of mobility data and road network to create population-we...

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Main Authors: TAN, Ming Hui, TAN, Kar Way, LAU, Hoong Chuin
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Language:English
Published: Institutional Knowledge at Singapore Management University 2023
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Online Access:https://ink.library.smu.edu.sg/sis_research/8625
https://ink.library.smu.edu.sg/context/sis_research/article/9628/viewcontent/BigDataApproach_Huff_av.pdf
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Institution: Singapore Management University
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spelling sg-smu-ink.sis_research-96282024-04-17T06:21:44Z A big data approach to augmenting the Huff model with road network and mobility data for store footfall prediction TAN, Ming Hui TAN, Kar Way LAU, Hoong Chuin Conventional methodologies for new retail store catchment area and footfall estimation rely on ground surveys which are costly and time-consuming. This study augments existing research in footfall estimation through the innovative integration of mobility data and road network to create population-weighted centroids and delineate residential neighbourhoods via a community detection algorithm. Our findings are then used to enhance Huff Model which is commonly used in site selection and footfall estimation. Our approach demonstrated the vast potential residing within big data where we harness the power of mobility data and road network information, offering a cost-effective and scalable alternative. It obviates the reliance on often outdated census data and government urban planning records, positioning itself as a formidable driver of informed retail strategy. In doing so, our approach is poised to deliver substantial value to the retail industry. 2023-12-01T08:00:00Z text application/pdf https://ink.library.smu.edu.sg/sis_research/8625 info:doi/10.1109/BigData59044.2023.10386152 https://ink.library.smu.edu.sg/context/sis_research/article/9628/viewcontent/BigDataApproach_Huff_av.pdf http://creativecommons.org/licenses/by-nc-sa/4.0/ Research Collection School Of Computing and Information Systems eng Institutional Knowledge at Singapore Management University Urban planning Mobility data Data-driven community detection Retail strategy Predictive analytics Databases and Information Systems Numerical Analysis and Scientific Computing
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic Urban planning
Mobility data
Data-driven community detection
Retail strategy
Predictive analytics
Databases and Information Systems
Numerical Analysis and Scientific Computing
spellingShingle Urban planning
Mobility data
Data-driven community detection
Retail strategy
Predictive analytics
Databases and Information Systems
Numerical Analysis and Scientific Computing
TAN, Ming Hui
TAN, Kar Way
LAU, Hoong Chuin
A big data approach to augmenting the Huff model with road network and mobility data for store footfall prediction
description Conventional methodologies for new retail store catchment area and footfall estimation rely on ground surveys which are costly and time-consuming. This study augments existing research in footfall estimation through the innovative integration of mobility data and road network to create population-weighted centroids and delineate residential neighbourhoods via a community detection algorithm. Our findings are then used to enhance Huff Model which is commonly used in site selection and footfall estimation. Our approach demonstrated the vast potential residing within big data where we harness the power of mobility data and road network information, offering a cost-effective and scalable alternative. It obviates the reliance on often outdated census data and government urban planning records, positioning itself as a formidable driver of informed retail strategy. In doing so, our approach is poised to deliver substantial value to the retail industry.
format text
author TAN, Ming Hui
TAN, Kar Way
LAU, Hoong Chuin
author_facet TAN, Ming Hui
TAN, Kar Way
LAU, Hoong Chuin
author_sort TAN, Ming Hui
title A big data approach to augmenting the Huff model with road network and mobility data for store footfall prediction
title_short A big data approach to augmenting the Huff model with road network and mobility data for store footfall prediction
title_full A big data approach to augmenting the Huff model with road network and mobility data for store footfall prediction
title_fullStr A big data approach to augmenting the Huff model with road network and mobility data for store footfall prediction
title_full_unstemmed A big data approach to augmenting the Huff model with road network and mobility data for store footfall prediction
title_sort big data approach to augmenting the huff model with road network and mobility data for store footfall prediction
publisher Institutional Knowledge at Singapore Management University
publishDate 2023
url https://ink.library.smu.edu.sg/sis_research/8625
https://ink.library.smu.edu.sg/context/sis_research/article/9628/viewcontent/BigDataApproach_Huff_av.pdf
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