Geocoding: Turning Excel Rows into a Living Map
In today's data-driven business landscape, understanding your data is key to success. Major corporations are keenly aware of this, diligently collecting and analyzing internal data to gain insights into various aspects of their operations. It's rare to find a company today that doesn't have a comprehensive understanding of its customer base, branch locations, or sales performance. With the assistance of analytics teams, organizations create sophisticated dashboards to inform top-level decision-making and drive future strategies.
However, despite the wealth of data at their disposal, many companies struggle to identify the root causes behind underperforming branches. They're missing the crucial "where and why" behind the numbers. The solution lies in geocoding.
What is Geocoding?
So, what exactly is geocoding? Simply put, it's the process of adding geographical coordinates to your data. The most commonly used source for geocoding is an address. While address is sometimes not part of companies' internal data, the universal precept that roughly 80% of data has a spatial component still holds. Your customer lives in a specific location, your branch is in another, and the billboard you advertise on can also be placed on a map. If you have an address within your data, it's time to use it. And that you don't know what to do with it? Never mind! Check out our case studies to see how our clients have used addresses.
What is Geocoding good for in Business
Geocoding can help you with multiple business use cases. We've picked a few here, but feel free to see more on our website.
Optimizing a Branch Network with Geocoding
TETA, a prominent drugstore chain in the Czech Republic, faced challenges in optimizing its branch network and planning new locations for expansion. With over 700 stores, they lacked data-driven insights to address critical questions like potential store performance, investment decisions, and customer demographics. Leveraging transaction data from their robust loyalty program and external demographic data, CleverMaps empowered TETA with enriched insights contextualized by location. Learn how CleverMaps enabled TETA to address these questions HERE.
Increasing Customer Experience with Geocoding
Foodora, a leading food delivery service operating across 150+ cities (part of Delivery Hero), sought to enhance market coverage and customer experience by optimizing restaurant offerings and delivery services. With a vast network of over 2000 restaurants, Foodora needed to manage its resources strategically, understand market potential, and tailor services to meet customer preferences. By integrating transaction data with CleverMaps' geocoding solution, Foodora gained actionable insights into market dynamics, customer behaviors, and restaurant performance. Explore how CleverMaps empowered Foodora to elevate its customer experience and market presence HERE.
Geocoding for Investment Decision-Making
Upvest, a real estate-focused investment crowdfunding platform, faced the challenge of accurately evaluating investment opportunities. Specializing in mezzanine financing for various real estate projects, Upvest needed to assess investment risks, particularly those concerning location attractiveness, accessibility, and surrounding amenities. Discover how CleverMaps helped Upvest with location-based insights to tackle their challenges HERE.
Which Platform to choose for Geocoding?
While there are numerous geocoding options available, CleverMaps stands out for several reasons:
Navigating Your Geocoding Journey
First and foremost, geocoding with CleverMaps marks just the beginning of a transformative journey. We're committed to providing ongoing support and guidance, helping you extract actionable insights from your data to drive strategic decision-making. Explore our website or check out our blog for inspiring real-world examples of how businesses have leveraged geocoding to achieve remarkable success.
Accuracy is critical for Geocoding
The second important reason is the verification of the geocoding results. For larger, automated services, this is, unfortunately, a common shortcoming. The search engine will return the first result that meets the specified criteria, but it no longer wastes time looking for a better one. It often happens that the search point is located, for example, in the middle of the street or, even worse, right in the middle of the village. Yet the geocoder managed to find a better location, it just wasn't the first one found. At CleverMaps, after geocoding, we also process the generated data and carefully select the most accurate from the found records.
Prioritizing Data Quality
We regularly update our underlying address database available for many countries from multiple reliable sources, whether OpenStreetMap or a National Address Database. We can be sure that even newly created addresses can be traced easily with us. This unwavering commitment to data integrity translates into a high success rate when searching for coordinates, minimizing errors and maximizing reliability. And in the rare event that we're unable to find an address, rest assured – we won't charge you a penny. It's all part of our dedication to delivering unparalleled service.
In summary, geocoding with CleverMaps offers a seamless solution for utilizing the spatial potential of your data. Say goodbye to guesswork and hello to actionable insights.
Let us help you navigate the spatial dimension of your data and discover the untapped opportunities that lie within. Get connected with our Geospatial Experts.
