Spatial analysis provides an organization with direct insight into the geo-demographic factors that drive customer behavior. Customers can be analyzed with respect to distance to your location, distance to competitors, drive times, regional geo-demographics, and other spatial factors.
The following screen shot illustrates the results from one of these types of analyses.
Analysis and Customer Data
The following historic data and analyses are used for spatial analysis:
- Addresses of customers or prospects, as well as your sites, are geo-coded to help map their exact geographic location and distance relative to your sites.
- Competitor addresses are geo-coded as well, allowing comparative distance analysis and understanding of competitive gravity wells.
- Past customer trends and behavior is analyzed and correlated with distance and competitor locations to understand the importance of geography in customer decision making.
- Data on geo-demographic features of regions (such as median incomes, home values, and age makeup) are analyzed to help understand other spatial factors that correlate with customer behavior.
- Results are presented in map format, either as one time reports or dashboards. Spatial data can also be fed into other predictive models to better understand impact on behavior. For example, customers who are further from your retail location may have a higher likelihood to churn.
The benefits that can be realized from utilizing this solution:
- Understand the spatial and geo-demographic drivers of customer behavior.
- Understand the effect of competitor locations on customer behavior and market share.