The Market Analysis Tool in Map Business Online

Annual subscribers to Map Business Online business mapping software will find a button along the master toolbar called Market Analysis. See the button image here:

This business data analysis tool helps map users conduct some basic comparative analysis on one or more imported or created data layers within Map Business Online. The market analysis tool is only available in the full year subscription and team editions.

There a five options for using the tool. We’ll start with the first option – Search data from multiple locations.

The Search Data Option

The user simply checks this option and clicks the next button. Here you will find a dialogue that enables selecting a dataset for analysis. The user can  choose to Plot a new dataset for analysis here if they have not imported a dataset yet.

Once selected, there are several options for searching user data:

  • The analysis may require a radius which defines the search target area.  A five-mile radius, for instances, can be set here. This lets the user search a Circle with a radius of five miles around each point in the data layer you choose. After setting a radius click next to choose the data layer to search.
  • Alternatively, just below the radius selection the user will notice a section that lets her choose to establish a radius based on a specific numeric column in imported data.  This comes in handy if you have a radius column in your data you might like to apply.

This first option in Map Business Online Market Analysis includes an option to draw a circle around up to 200 data points at once. Simply Check the box to apply the circle draw layer. The users has some fill, line, color and transparency options to consider here as well.

Find the Nearest

In the Map Business Online Market Analysis tool we refer to the nearest locations and points as Stores and Customers. Just remember this is simply a way to describe one stationary dataset and another dataset that’s could fluctuate.  Those datasets could just as easily represent hospitals and patients, bus depots and pick up locations, distributor branch locations and customer locations, or even bakeries and restaurant locations. The user applies their business model to the Map Business Online analysis tool.

Whatever data you’ve decided to analyze you’ll be able to select one and then the other dataset for comparative analysis. In this second dialog option the user can choose up to five stationary location addresses that are nearest to the user’s “customer” dataset. Feel free to change the name from Store to another name that suits your analysis.

Processed results will include distances to “Store” locations for each record.

Market Area Profile

The third Map Business Online Market Analysis option offers a market area profile. Once again, the user can choose two datasets to analyze. But now the user can include up to three columns in your data that display numeric values. Users can apply a count function, and total or average numeric values. Labeling options are listed as well.

Market area definition options are listed at the bottom which let the user choose between a simple nearest store option and defining a radius search area.

Summarizing Demographic Data

Keeping in mind that Map Business Online includes demographic data for building demographic maps, we’ve added a demographic summarization tool in this fourth option. Simply choose the data layer you’d like to append with demographic information. Then pick up to three demographic categories to add to the analysis. Your results will show demographic data appended to a spreadsheet for export out of Map Business Online.

Once again we’ve included area definition options and the ability to place circles around up to 200 locations at once.

Add Data From a Map Layer

The final option allows the user to select an Map Business Online geographic district layer like county or zip code and append data from district layers to imported data layers. For example, a user could add FIPS code numbers to a municipal data set they imported, or they could add Place Names (city names) to a zip code related sales territory mapping dataset.

Remember, we call this button Market Analysis because it tends to support all sorts of market analysis work.  It doesn’t mean that is the only place market analysis gets done in Map Business Online.  Many users use Map Business Online to conduct market analysis and never use the Market Analysis button. It is an advanced tool.

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