Cisco has acquired ThinkSmart Technologies, a company that develops solutions around location-based data analysis using Wi-Fi.
Essentially, ThinkSmart’s location analytics collects information on movement within a venue. Types of metrics include time of day, traffic patterns and dwell times.
Thus with this kind of information, businesses can take this new information and use it to improve the customer experience, which has the possibility of improving cost savings and generating more revenue.
Hilton Romanski, head of Corporate Business Development at Cisco, cited some examples of how this could be done in a blog post on Wednesday, such as optimizing business processes or much simpler tasks such as reducing wait times and managing better staffing levels according to the flow of customer traffic.
Romanski explained further that this merger fits in with Cisco's intelligent and smarter networks strategy, emphasizing that the goal is to be able to "analyze location data from wireless networks and provide insight that can be used to drive new commercial opportunities and enhance end-user experiences."
The widespread proliferation of mobile devices and services provides opportunities for enterprises and service providers to better serve their end users based on location and preferences inside venues and retail spaces. With Cisco’s acquisition of ThinkSmart’s network and Wi-Fi location analytics capabilities announced today, the customer experience in public venues such as retail locations, hotels and airports, is about to get much better.
The Cork, Ireland-based startup will be integrated into Cisco's Wireless Networking Group and Mobility Services Engine.
Financial terms of the agreement have not been disclosed, but the deal is expected to close during the first quarter of Cisco’s fiscal year 2013.