Summary
Ticon is a Traffic Information Consolidator that works with large volumes and multiple categories of data to provide informational value for its clients’ decision-making process.
The company was looking to acquire up-to-date traffic data at a smaller scale. It contacted several data providers, but none served the specific needs of Ticon.
Korem provided Ticon with Traffic Data from HERE Technologies with a customized Data as a Service (DaaS) solution. This allowed the company to obtain data for specific regions and perform more precise business site traffic analysis.
The client
Serving the self-defined role of Traffic Information Consolidator, Ticon works with large volumes and multiple categories of traffic, geospatial, and demographic data to provide its customers with focused, contemporary, and verified analysis of key indicators that effectively support its clients’ decision-making process.
Ticon’s traffic optimization products deliver reliable and affordable traffic data, such as true traffic volume (not probe sizes), traffic flow speed, traffic density, travel delays and traffic demand, including current values, statistics, and forcasts. Its two-dimensional traffic map reflects both speed and volume on every road, from major highways to minor streets, allowing for complete visualization of traffic conditions, creation of mobility improvement measures and more informed site selection.
The Challenge
Ticon wanted up-to-date traffic data to optimize its retail site selection reports. The company contacted several data providers, but none served Ticon’s specific needs nor offered customized contractual terms.
Ticon needed data specific to certain regions but was offered data that covered the entire United States only. This was not a viable option for Ticon, and there was no reason to pay for data covering areas it would not use and would not be of value to its customers.
That’s when the company realized it needed a more tailored solution, not a standard, off-the-shelf product.
The Solution
One of its loyal partners suggested that Ticon contact Korem, hoping that the geospatial company would have the right solution to its problem. Since Korem has always emphasized that every business is unique with its own set of challenges, it was committed to offering Ticon a customized solution and building a specific contract licensing model that truly met its needs. After a few data trials, it provided the company with aggregated Traffic Data from HERE Technologies as a customized Data as a Service (DaaS).
Taking advantage of Korem’s DaaS solution means that Ticon was able to obtain region-specific data without having to pay for a more expensive dataset that included unneeded data. Each month, Korem delivers to Ticon only the data it needs, giving the company cost savings and convenience.
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Moreover, Korem supported the development of Ticon’s business model because the company now had the ability to offer a more unique set of products. As a result, Ticon has adjusted the price of its site selection reports to make them more profitable while ensuring that the price remains attractive to clients.
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Key results
Traffic data in 5-minute intervals
More precise business site traffic analysis
Data-driven decisions for site selection
The results
HERE Technologies’ Traffic Data helps users to understand road traffic patterns for a typical day and forecast traffic by analyzing historical traffic data. It is a good source of information for Ticon’s business site traffic analysis and reporting system. Indeed, this data gives more visibility into the traffic of a given area by the time of day so that Ticon’s customers can better choose the location of a future brick-and-mortar establishment.
With its algorithmic approach, the company produces several derivatives from the reliable and up-to-date data provided by Korem and the data from road networks. These derivatives, including true traffic flow volumes, travel delays, street cardiograms, billboard viewing metrics, and more, indicate dynamic changes in driver behavior on any road segments adjacent to the specific locations analyzed. Such information is used by Ticon’s customers in support of their site selection process.
In addition, Ticon uses the data to feed its artificial intelligence model not only to improve traffic analysis for site selection but also to determine what services and goods store managers should offer based on their location to increase dwell time. This is especially useful for an effective electric vehicle charging station strategy.
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