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Gaining Local Insight for Business

Many businesses have gleaned great returns by looking at operations through the lens of geographic science. The largest wins take on mythical status, as the impacts can be so profound that users want to keep the secret behind these rewards from competitors.
A few eye-opening anecdotes have come to light, including ones about the following:

At the heart of these wins, and many more, is an enterprise location strategy with Esri’s geographic information system (GIS) mapping software at the hub. GIS integrates with existing customer and enterprise systems, bringing location data, proven algorithms for analysis, and tailored applications to extend insightful information to the front lines of decision-making. Businesses use this powerful platform to reveal deeper understanding of their data.
The recently launched Esri Location Strategy for Business web pages contain information and tools to give every business user a taste of the kinds of spatial analysis available. The new Discover Local Insights application gives visitors a free ZIP code search for some of the key local psychographic variables that help reveal the values, opinions, interests, and lifestyles of customers.

The Discover Local Insights application provides an interactive tool to help businesses understand how to use the power of geographic science to better understand their customers.
“The application falls into our strategy of providing actionable information for business,” says Robby Deming, Esri marketing program manager. “It helps to show how Esri’s vast business and demographic data can provide even greater insight when combined with data that businesses already hold.”
Esri Tapestry Segmentation provides the power behind this application. Tapestry data contains the classification of all US residential neighborhoods, broken down into 67 unique segments based on demographic and socioeconomic characteristics. This data, along with more than 10,000 added Esri data variables, conveys a wealth of local insight.
This short description of the Exurbanites segment can be explored further. Click image to see full four-page report of this segment.
In addition to presenting the psychographic segments, both the 15-minute drive-time area and five-mile-ring buffer area around the ZIP code can be overlaid on the map. These geoenriched polygons give users a greater sense of place while illustrating the intuitive and interactive nature of geospatial business analysis.
This free tool is available as a web application to any interested business. Work is under way to create a mobile-friendly version as well as to enable this application to be embedded in any website. Some of the functions being planned for development include the ability to compare ZIP codes side by side and generate drive times or buffers from any point on a map.
Many businesses have used these kinds of tools for decades to better understand their customers. The early adopters are now combining what they already know with new data feeds from in-store sensors, customer relationship management (CRM) systems, and other sources. Live information, such as weather conditions or social media mentions, can also be visualized to get up-to-date insight into factors that impact local business decisions.
“We’re using the Discover Local Insights application to give businesses a practical example of the powerful knowledge they can access through a location strategy,” says Deming. “Any commercial business that wants to know more can sign up for a free location strategy assessment, which includes a half-hour conversation with our technical and commercial business experts. We want to help people understand how their peers are driving business benefits from location technology. In addition, we’ll also provide them with a potential road map for developing their own location strategy that matches their business objectives and needs.”

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