How location intelligence solves four major problems of the e-scooter rental business?
Planning to start e scooter rental business? or Are you struggling to run e scooter rental business? In this blog know how How location intelligence in E Scooter app development fuels e-scooter rental business?
The success of your online business always depends on business intelligence. It describes the way to gather the business data and to use that data to enrich, analyze and visualize business processes of your online business. It also represents resourceful insight of the business which admin can use to take the long term and short term business decisions.
With a few prominent features of the business intelligence, Domino’s is selecting the location of the franchisees, Uber is predicting the surge price and surge locations, FedEx is deciding the efficient routes for the deliveries and Torfaen Country Borough Council improving community engagement and operational effectiveness.
If we talk specifically about the e-scooter rental business, then, location intelligence, a subcategory of the business intelligence, plays a vital role. Location intelligence derives the meaningful insight from geospatial data to let admin decide the most profitable locations to do business. Regardless of the fact that e-scooter rental business holds a very narrow profit margin, you can earn in million if e-scooter app development company has integrated the module of location intelligence in the admin panel of the app. Coruscate Solutions is among the few e-scooter app development companies which impart the complete business intelligence module with all features of the location intelligence in the admin panel.
In this blog, we will study the importance of location intelligence in the admin panel of the e-scooter app, how you derive the benefits from it and in which steps a whole location intelligence module is crafted.
What is the location intelligence?
Location intelligence is nothing but the technique to understand the relationship between location and data to make a better business decision. It shows a more in-depth understanding of the user’s activity in a particular region.
Over the past few years, location-based services have boomed. Different IoT devices and mobile apps are generating parcel of location-related data which is actually very beneficial to the location-based services providers. By interpreting that big data, they can determine the most profitable region of their business. They can even determine the steps to convert any non-profitable region to the profitable region. Based on the effort an e scooter app development company makes while developing the module of the location intelligence, it presents the geographical information in either an excel sheet or in a visual format.
How location intelligence in E Scooter app development fuels e-scooter rental business?
E-scooter rental service is, of course, a location-based service. All importance modules of the e-scooter app like e-scooter booking and payment, work parallel with the tracking technologies. Thus, it is safe to say that proper use of location intelligence is the driving force behind the success of the e-scooter rental business. An owner of the e-scooter rental business can utilize the features of location intelligence in several ways. We will understand it in details.
E-scooters are the major asset of the e-scooter sharing business. Accurate management of the fleet is the only need to increase usage and revenue. In many cases, your redistribution team collects the e-scooters and redistributes it in such areas where the user base is very low. This poorly executed fleet redistribution will never help you to satisfy your core financial goal behind starting the e-scooter rental business.
However, location intelligence will not let it happen. It studies several historic and current factors and proffers the locations with the highest need of the e-scooters. So, now your redistribution team will only deploy e-scooters in those areas where the user base is high.
If you don’t want to prefer dockless e-scooter business model and want to do the e-scooter rental business by following docked e-scooter business model, you need to execute a very annoying process to determine the perfect location for the station installation. If you end up installing a station at the wrong location, you will bear a big financial loss as installing a station for the e-scooters is very costly. This is why, rather than relying on your guts feeling, take the advantages of the location intelligence to descry the best location for the station installation.
Location intelligence presents the data which you can use to magnify the satisfaction of the users. It lets you know the demand for a particular location. So, you can always estimate the number of e-scooters needed to feed that demand. Additionally, location intelligence yields the hardware information of the e-scooters for a particular location. For example, you can know the locations where the more e-scooters are damaged. You can also know the locations where e-scooters are witnessing the battery draining problem. If you know these harsh terrain, you can pay more heed and deploy a dedicated team to look after the location-based problems which eventually help you to offer ultimate user experience.
E-scooter rental is the new term for the people. Many of the potential users may not know about it. With the proper use of location intelligence, you will get to know the locations of the people who are more likely to adopt these tiny e-scooters. Location intelligence makes your advertisement campaign more efficient and result-driven by eliminating the locations where it is not worth to spend on advertisement campaign. This is why location-based advertisement campaign will surely help you to save a few bucks and human resources.
Coruscate Solutions is bringing all features of the location intelligence in the admin panel with the highest ever accuracy. In the next part of this blog, we will discuss what are the steps Coruscate Solutions is following to develop the accurate location intelligence module?
How Coruscate Solutions makes location-based decision making happen?
Developing a module of location intelligence is a complex task. But to make it simple, the team of Coruscate has divided it into three processes. These are Enriching business data, Analyzing business data and Visualizing business data.
Enriching the business data
As we have discussed earlier that mobile app and IoT devices gather the data related to the locations and the riders. But the location data is in the raw format which is hard to understand. To make it meaningful, Geo-coding and Geo-enrichment techniques are the ultimate choices.
Geo-coding is the process of assigning accurate latitude and longitude to each record of the location. Once we get the location data into an understandable format, the next big challenge is joining Geo-coded data with the attributes. By using Geo-enrichment technique, we can establish a proper relationship between the rider’s details and the data of the location.
To understand it in a more rational way, let’s assume a scenario. Suppose, a rider has started a journey on the e-scooter from the street A and ended the journey on the street B. Our module of the location intelligence gathers the location data which is in the raw format. Geocoding assigns the latitude and longitude to that data. While Geo-enrichment links the location details with the attributes of the rider which are rider id, rider name, rider address, rider age, and rider occupation. After this whole process, the end result will provide clear details of the rider and his ride.
Analyzing business data
Once we get the uniformly arranged data of the locations and the attributes of the rider, we can go ahead and analyze that data to unlock the relationship between the locations and the business opportunities. This is a very important process of location intelligence. By using different algorithms, it analyzes the data and prepares the reports which have all necessary data of your e-scooter rental business. We, at the Coruscate, implement a few revolutionary algorithms to bring the advanced analytic capabilities.
Visualizing business data
After gathering data and analyzing that data, We present the result of the analysis in the visual form – typically with the maps. Visual forms of the reports allow e-scooter rental business owners to see the short term and long term trend of the business. Unlike other e- scooter app development company, we don’t show the business trend in the spreadsheets as we believe maps are widely recognized and understood even by a person who is not a technical professional.
So, if you are looking for an e-scooter app with the sophisticated admin panel, visit our E Scooter app development page to know more about our work process and cost of developing e scooter app. Or, feel free to contact us for a free consultation.
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