Discovering market demand is a crucial part of every business strategy in any industry, from a local grocery store to huge multinationals. At its core is one question – how badly do consumers want your product? Demand is determined by many factors, including the number of people seeking your product, how much they’re willing to pay for it, and what alternatives are available. However, for mobility providers, two new and critical factors come into play: the spatial element, and the temporal one – where the clients are, where they want to go, and when? Luckily, Mobility Intelligence makes it possible to discover and understand demand in the mobility sphere.
Using mobility data that’s enriched by multiple data sources, Mobility Intelligence can provide insights into where and when people require transportation, and which kind will be best suited for them. This is critical across the mobility economy – from mass transit public services to micromobility MaaS providers, and from city planners to safety engineers.
Mobility Intelligence and the multi-modal split
Every actor in the field of mobility understands that mobility data is a powerful tool through which to improve products and services and achieve better safety and sustainability. But not everyone has the capacity or know-how to apply data science and derive insights from that data. Some prefer to buy Mobility Intelligence insights rather than deal with interpreting the data itself.
Mobility Intelligence is compiled from multiple data sources – including mobile devices, micromobility services, charging networks, municipalities, public transportation, and more. Rich and varied data sources are important, as they provide additional inputs to (usually) proprietary machine learning algorithms. The artificial intelligence models employed in machine learning create a “digital twin” model, with tens of different indicators derived from the raw data.
When done right, this digital twin is a virtual representation of the entire multi-modal mobility economy, including the model split within it. Ground truth information and insights derived from the modal can help anyone in need of truly understanding mobility – from those involved in infrastructure and making long-term investments, like city planners or charge point providers, to those who need to enable flexible operations and deployment – like MaaS providers.
Understanding the present mobility in a city or area is important, and it generates actionable insights and true competitive advantages. However, Mobility Intelligence does more than just detect movement patterns. It provides a rich tapestry of information for each city cluster, allowing stakeholders to examine exactly what makes any cluster attractive – from daily traffic to household data, median income, persona types of visitors and residents, and more.
Unlocking and Discovering Demand
The treasure trove of insights and information floated by Mobility Intelligence can be further refined and used to discover demand, assess further expansion, unearth underutilized opportunities, and avoid areas that are over-served.
Mobility demand is different for every industry, but it all utilizes the same underlying tools. For example, for EV the length of distance traveled is crucial to understanding the level of urgency and which types of chargers would be optimal for any given area – down to a specific intersection.
Micromobility providers, on the other hand, are predominantly interested in short trips – 1-8 km distance. But they are also specifically interested in younger demographics, and may form local brand associations with the ones popular among their potential users.
For city planners and engineers, understanding the modal split and total journey of different visitors is critical, as well as understanding intent and proximity to home or work.
Market demand can, and does, fluctuate over time due to a variety of factors. Some are predictable and seasonal (like the demand for shared bicycles near a college campus), while others are less so. Being able to forecast, calculate and analyze market demand as it changes is a critical component for creating a health mobility economy.