Scanner Data - Explained
What are Scanner Panel Data?
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What are Scanner Data?
Scanner panel data are just data that are recorded through checkout scanners that track purchases of the panel participants. So the panel is made up of different consumers who agree to have their purchase behavior tracked. When they check out at the store, that purchase is recorded and it generates this big wealth of data that helps us to understand consumers behavior.
Scanner panels generate is often thought of as big data. Big data is a term that refers to huge amounts of information and data that are tracked with technology - such as scanner panels.
Another aspect to scanner panel data is that it can help us to understand what we call co-purchasing. So, not only does it tell us when somebody buys our product. It tells us what else they buy at the same time. That can be meaningful to us as we design our marketing strategy.
Lastly, scanner panel data allows us to make comparisons between different consumers. For example, it tells us whether they're in different places geographically or in different regions or if they're different by gender or other things that we might think of as meaningful.
So, scanner panel data is a rich source of information that can be very helpful in guiding us and in designing and implementing our marketing strategy.