Smart City Planning with Location Intelligence

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Technology is an integral part of our daily lives. It has changed the way that we look at the world and our expectations for the future. Because of this, many businesses have zeroed in on the benefits of digital transformation and cities are no exception. Singapore, Dubai, and Boston are great examples of how cities could move in the direction of becoming smart cities.

While creating a smart city sounds like the perfect solution to the public’s ever-growing ease of use and on-demand needs, the preparation can be challenging. This is where data plays a major role. Insights from location intelligence can help urban planners with strategic smart city planning.

Identify Bottlenecks in Transportation

Location intelligence allows city planners to understand human mobility patterns. The coronavirus pandemic caused an increase in people moving to more suburban areas and smaller towns, known as the “Great Migration of 2020.” This movement has caused a growth downturn in many metropolitan populations. Naturally, the migration of people from cities to the suburbs has created traffic congestion. By understanding traffic patterns, urban planners can discover where congestion is the worst and create advanced traffic management strategies to solve these transportation disruptions.

People aren’t taking public transportation as much as they used to, but this is trend could easily change in the future. Smart city planners can use near real-time data to determine what public transportation options are needed. They might discover that foot traffic is increasing to rideshare areas and more consumers within the city are visiting bicycle shops. To meet demand, they could create a ride-sharing system that is run by the city and less expensive than ride sharing companies. The transportation department could implement a bike-share program and place bike lanes in more locations around the city. This not only takes the load off of the bus system once people are back in the office but it also gives people more transportation options than before and reduces pollution.

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Economic Development for Smart Cities

Urban planners can use insights from location intelligence to determine how to boost the local economy and address areas in need of assistance. By analyzing these insights, they can go beyond census data to better comprehend the preferences of residents and visitors and identify consumer markets with the potential for growth.

For example, if consumers are frequently visiting convenience stores and have to travel far to get to a grocery store, then planners can work with departments to create initiatives around reducing food deserts in the city. Once more grocery stores are introduced to the community, then the city can create an interactive map to help people find their nearest store.

City planners are also use location intelligence to understand on the types of businesses that would do best in a particular locale based on the preferences of consumers living in the neighborhood. Planning a city based on what its residents and visitors want the most can help organizations strategize public initiatives and create partnerships to implement those solutions.

The Importance of Smart City Planning

As more cities begin to implement smart city planning, insights from big data will help inform policies that will benefit neighborhoods and the people who live there. Location intelligence can help urban planners identify and prioritize goals based on consumer behavior patterns. By meeting these challenges based on data rather than assumptions, smart cities can improve quality of life for city residents and visitors. This people-first approach is the future of smart city planning.

Frequently Asked Questions

Discover how analyzing real-world movement patterns can reveal valuable trends in customer behavior, optimize business operations, and enhance strategic decision-making.

What is site selection and why is it important?

Site selection is the strategic process by which businesses identify, evaluate, and choose optimal locations for their operations. This process is paramount as the location of a business directly influences factors such as accessibility, visibility, profitability, and market longevity. For retailers, the right site can mean higher customer footfall and increased sales. In real estate, a well-selected site can promise lucrative returns on investment and tenant stability. Financial service firms leverage site selection to position their branches or ATMs in high-demand areas. Essentially, site selection plays a pivotal role in ensuring the success and growth of a business by aligning its physical presence with market opportunities and demands.

How does location intelligence enhance site selection?

Location intelligence refers to the harnessing of geospatial data to derive actionable insights, which can significantly enhance the site selection process. By analyzing data like consumer demographics, foot traffic patterns, competitor locations, trade area data, and more, businesses can make more informed decisions about where to establish or expand their operations. Location intelligence allows for a deeper understanding of market dynamics, revealing hidden opportunities or potential pitfalls. For instance, retailers can identify gaps in the market, real estate professionals can forecast property value trends, and financial service providers can assess areas with high customer demand. Advanced tools, like those offered by Unacast, further refine these insights by leveraging AI and machine learning, enabling more precise and timely decision-making.

What challenges do businesses face in the site selection process?

Unacast provides invaluable support to businesses during the site selection process through its advanced location data and analytics software, all powered and refined by Artificial Intelligence and Machine Learning technologies. The company offers a suite of products designed to deliver accurate, actionable, and comprehensive location intelligence. This data proves crucial for businesses looking to understand consumer behavior, analyze traffic patterns, evaluate competitor locations, and much more. With Unacast’s robust tools, businesses in retail, real estate, and financial services can derive insightful information necessary for making strategic, informed site selection decisions. The platform not only provides reliable data but also ensures it is readily actionable for businesses, whether they are looking to open a new store, invest in property, or expand their financial services to new locations.

What types of location data are crucial for informed site selection?

Demographic data offers insights into the age, income, and lifestyle of people in a particular area, helping businesses understand their potential customer base. Foot traffic data provides information on the number of people visiting a location, which is crucial for retailers to estimate the store's potential popularity and for real estate professionals to assess an area's vibrancy and demand. Geographic Information System (GIS) data helps in visualizing and analyzing geographical details, supporting companies in identifying accessible and strategically located sites. Understanding the proximity to competitors, accessibility, and the socio-economic profile of the surrounding areas is also vital. Unacast’s platform aggregates and analyzes these various data types, providing a holistic view that significantly empowers businesses in their site selection endeavors.

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