File:SPRING SPREE spending patterns in spain during easter 2011.webm

English: SPRING SPREE — spending patterns in spain during easter 2011

by MIT Senseable City Lab with BBVA Using a network orientated approach, the Senseable City Lab alongside BBVA has embarked on an examination of expenditure patterns and urban dynamics at large, using an unprecedented dataset of financial transactions. The first in a series of studies, Financial footprints: Transactions in Real Time illustrates the purchasing patterns across Spain during Easter 2011. Using data gathered by the BBVA banking network of over 4 million transactions, this visualization shows how 1.4 million individuals and 374,220 businesses spent €232 Million in the week of Easter. Examining the spatio-temporal character of transactions categorized by the type of sale (e.g. food, fashion, restaurants), it is possible to see distinctive patterns emerging such as the spikes in the purchase of food in the days proceeding the Easter holiday. As Easter 2012 approaches will these spending patterns be replicated? If so, can we use this predictability to improve urban services and better serve city dwellers? As this partnership continues, research will delve into the underlying drivers of consumer behavior, risk analysis of individuals and businesses, and how we can better understand the city environment based upon the digital footprints left behind by its inhabitants. MIT SENSEable City Lab Team Carlo Ratti, Director; Assaf Biderman, Assoc. Director; Riccardo Campari; Pedro Cruz; Stanislav Sobolevsky; Pablo Villegas; Prudence Robinson; Otto Ng BBVA Team

Elena Alfaro; Javier López; Marcelo Soria