Altitude by Geotab Study Reveals Significant Potential for Truck Electrification Data-Driven Insights Focus on U.S. Truck Stop Locations and Driving Range
Data-Driven Insights Focus on U.S. Truck Stop Locations and Driving Range
Location is one of the most essential factors in determining the value and outcomes of new real estate. For both infrastructure and commercial development alike, choosing the right place to build has an enormous impact on a project’s potential success. But how do planners and developers know what makes a good location?
In this article, we explain why a thorough location analysis is critical for proper site selection and demonstrate how Altitude by Geotab’s transportation insights can bolster data-driven location decisions.
A location analysis is a study that helps identify prime areas for new real estate by assessing a wide range of potential sites, including existing and undeveloped locations, and comparing them using data and benchmarking metrics, like transportation analytics and insights. While it is crucial for project stakeholders to perform a location analysis before breaking ground on new construction, there are challenges to conducting one effectively.
One major hurdle for real estate developers or transportation planners is with obtaining accurate and relevant data. Reliable data is imperative for smarter decision-making, yet it is often hard to find. Information from various sources can conflict or be outdated, and many data analytics tools aren’t always perfect, lacking the context needed for strategic planning. This makes drawing clear conclusions tough, which can undermine an entire location analysis.
Future-proofing is another challenge. The business landscape changes rapidly with consumer preferences, tech advancements and economic shifts. Future-proofing takes foresight and dependable ways to predict trends, which aren’t always easy to craft.
Pinpointing where target customers are can be tricky, too. Even with a clear customer profile, mapping these demographics to specific areas is complex for commercial developers due to ever-changing factors like mobility patterns and population shifts. Misidentifying customer locations means missing the mark with site selection, reducing potential foot traffic and sales.
Before breaking ground, successful developers know that performing an accurate location analysis is key for many reasons, including:
There are a host of use cases where a location analysis can greatly benefit from contextual transportation insights, including:
Read our article: How to optimize commercial site selection using deep transportation analytics.
Next, let’s dive into which types of transportation data and insights are best suited for performing a location analysis.
Narrowing down the most pertinent data and analytics helps to facilitate a quicker and more effective location analysis. Here are the three most essential categories of data to look at:
Altitude by Geotab’s comprehensive data categories and transportation analytics tools provide key contextual insights into travel patterns, vehicle classes and vocations for more precise infrastructure placement and development initiatives.
Location analysis is foundational to successful real estate and development site selection. By leveraging transportation analytics from Altitude by Geotab, you gain valuable insights that aid in making well-informed, strategic site selection decisions. Developers can optimize their projects for better functionality, appeal and long-term sustainability by understanding vehicle behaviors, traffic patterns and regional travel characteristics.
Reach out to us to learn more about how Altitude can elevate your location analysis projects.