Three Perspectives of Analytics
Analytics aren’t just a “nice to have”, they make the difference between success and failure. Here we look at how Anadue LiberateMM can make sure you get things right in the planning stages before launch, maybe even before bidding to operate in a city. Then we look at trip analytics, and finally revenue analytics. Only with accurate information, clearly presented, can management understand how their business is performing.
Anadue analytics supports evidence based decision making, leading to better results.
Analytics at the pre-launch phase of any shared micromobility project is critical. It feeds key information to the decision makers that define whether the operator will launch in that city or not.
What is the size of the market? Where should the Service Area cover? What is the best place to locate parking stations? Where should the operator base its maintenance and repair facility?
There is a wide variety of data in the public domain that an operator can access before launch to support the correct strategy. This includes census data (a huge range in itself), Points of Interest, Public transport infrastructure, land usage and much more. The challenge is how to view this data in a way that insights can be obtained and correct decisions made, otherwise it is just noise.
Here is an example of a map prepared to help plan a future service in Oxford. At this point, there is no trip data to analyse, but that doesn’t stop the operator making decisions about whether to bid for a licence, fleet size, likely best locations for parking, revenue predictions, etc.
At a glance, the management team can see the population of various districts (can be filtered to target certain demographics), existing cycle paths, train stations, bus stops, and car parks, as well as the streets and landmarks normally included on a map. With a quick adjustment to the options, land usage (residential, retail, commercial, etc) could be shown instead of population.
This operator is now in a good position to plan their initial bid to run a shared mobility scheme in this city.
2) Trip Analysis
Once launched, the operator needs to understand the demand for their service across the city and across the week. Negotiating for parking space on public rights of way is very important, and having the evidence to support these negotiations will help secure the required space in the right places to support the needs of customers.
The balancing of supply and demand is vital to the success of the scheme. One of the biggest overheads of running a micromobility scheme is “rebalancing”, the moving of vehicles from areas of over supply to where they are most needed.
Now that the service is launched, trip data can be added to the map.
In the above example, the higher the column, the more trips start at that location. The colour of the column shows the average distance of trips from that location.
In many cases, the operator’s back-end systems can provide details of revenue on a per trip basis, so as well as the standard trip data (start location, end location, duration, route, etc) the cost of the journey to the customer is also available. As many operators offer a variety of plans to their subscribers, this is very important. Two customers doing the same journey may pay different amounts based on which plan they subscribe to, or the same customer may pay different amounts for the same trip based on time of day / day of week tariff changes.
The above map shows the value of revenue for each start location with the height of the column, and the average value of each rental with the colour.
These examples are just the tip of the analytics iceberg, but are easy to understand examples of the difference that analytics can make to understanding the business of shared mobility. Anadue has a vast range of analytics that add real value to the challenge of managing a shared mobility business. Using machine learning, we can reveal where you need to provide vehicles to maximise your profits. We can also identify where your customers are using your fleet. Maybe there are destinations outside your service area that are popular destinations for your customers?
Another area to consider is Customer analytics. Which of your customers generate your profits? Which customers are most likely to leave? Again, Anadue can help.
For 360 degree visibility, and the best support for management decisions, Anadue is your perfect partner.