As the pandemic’s effects continue to rock the food and beverage industry, restaurants must evolve and adapt to thrive. From exploring alternative business models to expanding delivery services, strategic decisions based on geospatial data can protect and grow your restaurant.
Geospatial data impacts all business aspects, including consumer expectations, and the best restaurants use it to widen their competitive edge. However, purposeful actions require recent and comprehensive datasets. Moreover, you need a user-friendly mapping application like that puts geographic information at your fingertips.
In this post, we’ll define geospatial data, show how restaurant owners leverage MapQuest for Business for decision-making, and give you actionable tips to start using location-based geospatial data.
What is Geospatial Data?
Geospatial data is information derived from a geographical area and defined by longitude and latitude coordinates, zip code, address, or city.
Software applications use geocoding to create a map of locations of establishments, places, and people by converting latitude and longitude to a physical address and placing them as markers.
Geospatial technologies include global positioning systems (GPS), geographic information systems (GIS), geofencing, and remote sensing. These tools organize data, with the location being the common identifier. Restaurant owners use location-based solutions, such as MapQuest for Business, to visualize, manipulate, and analyze data while answering questions about market expansion, marketing, and delivery route optimization.
How Can Restaurant Leaders Leverage Geospatial Data?
Restaurant professionals take advantage of geospatial data to make informed business decisions about nearly every aspect of their store. Geocoded datasets provide a multi-dimensional view allowing you to gather and analyze the right information and develop insights to drive profitability.
Industry leaders use MapQuest for Business geospatial data for:
- Predictive modeling: Assess the potential for restaurant cannibalization by mapping customer sales data and traffic patterns in relation to your locations.
- Understanding customers: Determine how behavior and life changes alter consumers’ dine-out and ordering habits, including increases or decreases in daytime or evening eating occasions.
- Site selection: Create a multi-layered map to show traffic patterns, competition locations, and attributes, define residential and commercial areas, and highlight existing customer addresses.
- Competitive analysis: Review geographic maps and points alongside historical customer sales patterns to see how often consumers select competitors with similar features.
- Route optimization: Increase off-premise profit margins while ensuring hot food delivery using mapping technology to gain visibility into routes.
- Service additions or expansions: Examine potential opportunities by filtering data to show restaurants in an area with specific attributes, such as late-night delivery hours.
- Customer experience: Drive satisfaction with digital features that support your guests, such as address mapping, accurate search results, and showing popular store attributes.
Examples of Restaurants Using Geospatial Data
Should your restaurant lengthen its summer hours? Or add mid-afternoon delivery services? Use geospatial data to explore opportunities and avoid taking risks that won’t pan out. Location-based mapping technology lets you view your restaurant alongside other food and beverage businesses and filter results to show eateries open during specific times.
Your dataset can narrow down restaurants based on other characteristics, such as franchise versus independent or target market demographics. Get more insights by overlaying vehicle or foot traffic imagery for your timeframe. With MapQuest for Business, you can analyze your opportunities, turn around and use geospatial tools to drive awareness and sales.
How Restaurant Leaders Can Get Started with Geospatial Data
The first step is to understand how the world and consumers are changing at a speed that few restaurateurs can monitor without technology. Geospatial data may give you an edge over the competition today, but it’s quickly becoming a necessity. Those relying on outdated maps or, worse, guesswork aren’t positioned to make the strategic moves required to protect margins and grow revenue.
Consider your most pressing business issues. Now imagine having access to every related data point and being able to visualize various scenarios. Once you decide your top priorities, such as optimizing delivery routes or scoping out a new location, work with a geospatial application provider to create a custom system. For instance, MapQuest for Business helps you:
- Embed a map on your restaurant website
- Track deliveries and company vehicles
- Convert addresses into coordinates to avoid delivery delays
- Attract and guide consumers to your restaurant
Lastly, talk to someone from MapQuest for Business to learn how to implement geospatial technologies at your restaurant. Or, give your developers access to a complimentary testing key.
Start Using Geographic Information in Your Store
Satellite imagery, heat maps, and customer data provide the details you need to balance risk and innovation. By improving efficiencies and personalizing customer experiences using geospatial data, your businesses can overcome profit margin hurdles and benefit from business-related insights. Explore how geocoding can help your restaurant stand out by visiting MapQuest for Business.
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