5 ways location data is transforming the Transportation & Logistics industry
In today’s fast-paced world, the quest for instant gratification by consumers is no surprise. E-commerce giants like Amazon have stoked the demand for rapid fulfillment among customers and the same has trickled into the B2B (business-to-business) segment as well. Any brand that wants to improve customer experience, reduce abandonment rates, and increase sales knows that it must be faster, better, and more cost-effective than ever before. And the onus to make it happen has fallen on the transportation logistics industry.
In Canada, transportation networks form the literal backbone of the country’s economy. The industry supports thousands of jobs and contributes billions in GDP to Canadian economy across all modes. The sector is primarily based on road transportation, and as of December 2017, there were 69,411 businesses in Canada whose primary activity was trucking transportation.
Major shifts in the industry
However, transportation logistics businesses are witnessing a breakneck transformation across the globe right now. When Forbes Insights and Penske recently surveyed more than 400 senior executives in logistics, supply chain and transportation companies, 65% of the respondents agreed that tectonic shifts are happening throughout their industries.
While the sector has always been data-focused, the demand for high-precision, georeferenced datasets, and visualization tools has never been greater. This is because location data and spatial intelligence solutions are helping the transportation logistics industry to fulfill customer expectations in ways more than one. Several of these are discussed below:
1. Eliminating erroneous non-delivery areas:
While some areas are so remote that they have to be treated as unserviceable because of operational constraints, there are times when some locations in and around a city are perceived as out of the delivery area because of errors in the core data. If the core address data being used is inaccurate or postal codes are not up-to-date, potential customers will get the message that the business does not deliver to their location – leading to direct loss of sales. Using accurate address database and high-precision geocodes to mark delivery areas can help businesses make informed decisions.
2. Avoiding operational delays:
Inaccurate or incomplete addresses are also the biggest logistical challenge for any business. If the address is unverified or the postal code data being used is outdated, shipments could end up miles away from their intended destinations. However, this problem can be easily solved by integrating a comprehensive collection of verified individual address points and postal code database into business applications.
3. Route optimization:
Richly detailed digital street mapping content and proximity services (also known as the drive time/drive distance) can help to minimize travel time, improve delivery processes, and increase customer satisfaction. Having access to geographic data, such as associated street names and address ranges, national rail networks, national points of interest, and detailed topographic/ geographic features, along with the ability to calculate the route based on the shortest time or the shortest distance is helping transportation logistics providers to optimize their routes and schedules much more efficiently.
4. High-quality navigation:
By enabling their GPS solution with an accurate base and clearly-defined national transportation infrastructure, navigation service providers are able to make their map products even more accurate. With precision being absolutely critical for providing the best navigational experience, only uniquely identified, validated, and maintained location data can help to deliver exceptional customer satisfaction.
5. Asset visualization and analysis:
Being able to visualize and analyze key assets and customers on a map is essential for a variety of functions, including demand forecasting, capacity analysis, workforce management, on-time delivery, and more. Location intelligence tools, such as DMTI Spatial’s award-winning Location Hub®, seamlessly integrate with existing IT systems to deliver powerful insights to transportation logistics companies.
Why choose DMTI Spatial for route logistics
Large-scale transportation and logistics operations need location data to run efficiently. The more precise this information is, the better the optimization results will become. As the Canadian market leader in location-based information, DMTI Spatial offers unparalleled accuracy and completeness in the national street network (names, address ranges, navigation), street aliases, and historical building names.
The CanMap® address database by DMTI Spatial consists of 16.3 million Canadian addresses, of which 97% are of rooftop-level precision. This data is continually updated with over 1,600 municipal files and an average of 1,000 new postal codes every quarter. Designed for easy integration through APIs or an OEM content model, the CanMap® database comes with a flexible licensing system and comprehensive technical support.
Our Proximity Service (also known as the Drive Time and Drive Distance Service) provides proximity functionality that allows you to understand the distance between an address and a specified feature such as other addresses, points of interest, major highways, or other locations. The service provides options to calculate the route based on the shortest time or the shortest distance and the option to return information on the associated road segments.
And with more than 300 layers of enriched data streams from the partner ecosystem, DMTI Spatial’s professional services team can even provide your organization with custom data layers for more complex applications. Interested in learning how DMTI can help your transportation logistics business gain an enviable competitive edge? Get in touch.
Discover the power of location intelligence today.