Disaster risk management in oil spill

Properties, Oil and Water Don’t Mix

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Oil and Water Don’t Mix.  That was especially true on Wed April 8, 2015 when a tanker in the English Bay in Vancouver was reported to be leaking fuel into the surrounding waters.

The spill amount was “above the norm” but not “catastrophic.” Local residents were warned to avoid the beaches on both sides of the bay, according to CBC News,

Transport Canada has reported the following major oil spills in western Canada:

  • In 1988, Vancouver Island was affected by a spill from an oil barge that lost approximately 87 tons of oil
  • In 2006, a B.C. ferry sank with 240 tons of oil on board.

Gauging the impact

You can view an event zone on a map and determine exposure quickly by linking impacted addresses to your book of business with DMTI’s Location Hub® Post Event Service. Custom event reports allow you to easily share exposure information across your organization. This ensures swift action and superior customer service.

What is the impact of oil spills on property values?

A report created by the Conversations for Responsible Economic Development (CRED) reveals the following key findings:

  • Both direct contamination & the perception of contamination have clear and well documented impacts
  • In several documented cases, directly impacted properties lost 10-40% of their value
  • The reputational impacts alone are significant – properties nearby spills will usually see a 5-8% reduction in value
  • The most significant impacts are felt in the first year and usually last less than 5 years

Assessing future risk

A proposed pipeline destined to carry more oil to the Westridge terminal in Burnaby, BC would increase the number of tankers traveling through Canadian waters from 5 to 34 per month (Global News).

How can organizations prepare?

  • Connect. Analyze. Act™
    • Seek a solution that provides timely and advanced insight into the duration, size, impact and number of addresses affected by an event. This allows you to easily share exposure information across your organization.
  • National insights in real-time
    • Take advantage of an offering that delivers property level event information and other perils that may impact your book of business.

How can I learn more?

 

Marketing Relies on Location

Strong Marketing Relies on Location. Here’s Why.

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Accurate location information may not be the most exciting topic for your next dinner party, but under the hood most businesses depend on it to fuel their business processes, and to help them reach the right audience to drive marketing results. The ability to access accurate location information is impacting many of our customers because strong marketing relies on location. Let’s explore why.

Inaccurate Location Data Impacts Business Growth

Inaccurate location data can be a major inhibitor to growth in your business.  Marketing relies on location, and with more than 85% of customer data tied to a location component, it’s important that your company operate on valid and accurate data.

Customer and prospect data isn’t static – customers move, postal codes change and rural areas become urbanized.  As these changes occur, customer location information quickly becomes outdated. In fact, research by Sirius Decisions shows that 30% of B2B data is out of date within 12 months.  To put this into perspective, if your company has a database of 100,000 records and neglects to implement address quality measures, over 50% of your customer records would be entirely outdated in just over 3 years!

The Impact of Outdated Data on Marketing

Outdated data has an impact on sales and marketing. It’s estimated that 30% of marketing campaigns never make it to the intended recipient. That’s wasted marketing dollars, time and efforts – but most of all lost sales opportunities!

According to a study by the Direct Marketing Association (DMA), every dollar spent on direct marketing advertising, on average, results in $12.61 in direct marketing-driven sales.  Calculate how many marketing dollars you can save by focusing on data quality. Maintaining high data quality can help you drive better results and get you to your revenue targets that much faster.

We see that marketing relies on location, and location data acts as one of the information backbones for all your company operations.  Having accurate location information allows you to move beyond simple addresses – it allows you to integrate cloud based solutions to integrate demographics, firmographics, proximity, drive time, drive distances and many other variables into your decision making process.  This additional data can help you gain invaluable insights about your customers, and identify new markets.

Accurate location information solutions will allow your company to:

  • Visualize your market penetration to help you plan your new campaigns
  • Prequalify and identify new entry markets to increase marketing reach
  • Increase direct mail delivery by up to 30%
  • Reduce customer churn and increase customer satisfaction
  • Boost your campaign metrics
  • and learn more about YOUR customers!

Click here to see a free demo of DMTI’s Location Hub for marketing!