Consulting firm umlaut selects Parkopedia's data analytics platform to carry out market research
umlaut, a global full-service consultancy chose Parkopedia, the leading global parking service provider to help conduct market research.
umlaut is a global, full-service, cross-industry, end-to-end consulting company that offers advisory and fulfilment services to clients all over the world. In-depth domain expertise, broad practical knowledge, and interdisciplinary collaboration allow them to add value, quality, and focus to their clients’ organisations, services and products, in disruptive times in which industries are increasingly converging.
For one of its recent projects, umlaut required comprehensive, granular and accurate off-street parking information for selected cities in North America. It was of paramount importance for umlaut that the data be complete, consistent and up to date. As a result, umlaut evaluated several options for the sourcing of this data:
- The use of their own in-house surveyors, which whilst potentially offered the most control over the data collection; actually carried significant data quality risks.
- Compiling the data from public sources was deemed to be the cheapest, but most unreliable option.
- Purchasing the data from a parking data provider proved to be the most optimal solution in terms of quality, coverage and cost; whilst not compromising on quality.
In addition to the specific data quality needs, umlaut also had certain requirements in terms of the technical delivery of the data. Leading the way with the highest level of data completeness and accuracy combined with the ability to provide customized data solutions, it soon became apparent that Parkopedia would meet umlaut’s specific needs.
Within an able and agile collective of 20 consultancies and engineering firms spread across 50 locations all over the world, 4,500 specialised experts and engineers provide innovative solutions and transformations across all industries and their various intersections as well asserving the public sector and developing organisational cultures, structures, and processes.
More information: www.umlaut.com
After a thorough evaluation, umlaut selected Parkopedia as its provider for the parking data. The collaboration began in January 2020; with Parkopedia providing off-street (garage) and on-street static and dynamic data for thousands of cities and towns across North America. The initial umlaut project took only two months to complete end-to-end and was deemed a success by all involved.
The study consisted of analyzing the parking operator landscape, market concentration and the overall number of parking spaces within selected cities in North America. By leveraging Parkopedia’s data, umlaut was able to assess the parking markets in the respective metros and calculate the potential gross revenue for parking garages and street-level parking.
umlaut leveraged Parkopedia’s data; which is collected using machine learning and computer vision and is quality-controlled by an experienced surveying team which conducts in-person visits to parking locations, collecting photos and double-checking data on opening hours, pricing, usage restrictions, methods of payment, capacity, address and more.
umlaut was able to provide differentiated insights such as parking building-use relationship and proximity to other Points-of-interests within cities that play a critical role in understanding business factors today and in the future of parking.
Cornelius Bittersohl, Business Unit Lead from umlaut said: ”Crucial for umlaut’s consulting engagement was the usage of highly accurate and reliable data sets on current parking information across major cities to derive critical insights for our client that will be used as the fundament for further far-reaching business decisions”
Commenting on this collaboration, Csaba Antal, Key Account Manager at Parkopedia said “We were delighted to assist umlaut with their custom data requirements. Parkopedia’s background is in the automotive and parking industries where it is the clear market leader, but the case of umlaut demonstrates how the wealth of its data and services is highly beneficial for other industries interested in parking, such as real estate, retail or financial institutions.”
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