BBVA analyses urbanites for big data dynamite
BBVA has launched Urban Discovery, an interactive tool open to everyone that analyses the cities of Madrid, Barcelona and Mexico City through the prism of their commercial activity.
The bank says the analysis led to the creation of new maps that redraw urban borders and identify the most touristic and residential areas or those where young people go shopping.
The project developed by BBVA Data & Analytics analysed more than 413 million card transactions throughout the year – “always with anonymous, aggregated data” – to get an updated perspective on the dynamics taking place in these cities.
The results can be viewed on an interactive display of the data – developed in collaboration with location intelligence platform Carto.
“Data science allows us to better understand the dynamics in these cities, examine how citizens are using them according to their lifestyle, and describe each area’s specialisation, patterns and predominant activities,” says Juan Murillo, the head of territorial analysis at BBVA Data & Analytics.
In the first section, Urban Discovery shows how citizens – both residents and visitors – move around the city to make their purchases.
The second section shows new divisions, defined by characteristics that reveal the predominant activities in each area, the residents’ standard of living or the residents’ or tourists’ preferences.
BBVA says this study, whose results are open to everyone and reusable, are part of its “vision of sharing its data to contribute to the development of society, fostering innovation and development by applying new methodologies and information sources to very different uses”.
I will leave the Big Brother jokes or comments to you.