Prime Location
In the diagram below the three stars represent prospective locations for a new branch. This particular municipality has a river and controlled access highways (displayed in red) that restrict mobility and the amount of time it takes to reach a location. While a customer may appear close to your prospective location, the actual amount of time to reach your branch may be longer than expected due to restrictions on his/her mobility. Therefore, the customer may not visit your branch since it’s too far.
Drive Time Analysis
Drive time analysis is the act of illustrating how far an individual can drive from a particular point in any direction within a given time. By connecting the ends of all possible routes, you end up with a boundary surrounding the initial point. The second diagram demonstrates this with the coloured zones that surround the potential locations from our first diagram.
The results of drive time analysis provide you with a great deal of insight. You can segment current clients by which drive time boundary their addresses fall within (the green, peach and purple zones) to group them by branch. Additionally, you can identify where two potential branches overlap (the red zone) and compete for the same individuals, hurting your overall profitability. You can also run drive time analysis multiple times and make slight changes to branch placement until you've found an optimal location.
Solution
Through drive time analysis, DMTI can help you determine the best locations to build new branches. Maximize profitability by placing your branches in the optimal locations to capture market share.
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