10 takeaways from our recent Location Intelligence Growth Solutions webinar
How exactly can location intelligence technology support broadband expansion? The answer to this question is multifaceted, but understanding how this technology works will help you pinpoint high-potential growth regions in transition to put you ahead of the competition.
Anand Singh, VP of Product Management, and Joe Francica, Principal Product Manager with CoreLogic, dive into the nuances of this subject to underscore how Location Intelligence Technology can support broadband expansion.
1. What is the current rate of property growth activity in the U.S.?
In the U.S., there are about 157 million different properties. Every month, about 250,000 properties signal growth activity that is either currently occurring or is indicated by future growth. Additionally, approximately 75,000 new addresses emerge monthly, resulting from new construction, streets, subdivisions, or address additions and changes.
2. What are the challenges you see for broadband expansion?
Broadband companies face five common challenges when looking to expand:
- Finding new growth areas: Identifying where broadband expansion should take place.
- Finding areas of joint trenching to participate in: Being proactive in identifying builders and developers to avoid late-stage construction challenges.
- Finding areas of serviceability: Understanding where existing networks and coverage are.
- Finding, validating, and servicing new addresses: Identifying and locating new addresses to increase the subscriber base.
- Identifying new subscribers: Finding potential new customers for broadband services.
3. Are you seeing other challenges across the industry?
At a recent webinar, industry executives discussed shifting their focus from broadband coverage to meeting capacity due to changes in broadband consumption. This shift, largely propelled by artificial intelligence which demands massive data usage, is significantly impacting the industry.
With this greater demand for data, broadband latency becomes an issue, raising the question: Will new data centers be built nearby where people need AI solutions, or will they be built in rural areas where more land is available and latency is not considered a key factor?
4. What are Location Intelligence Growth Solutions by CoreLogic?
CoreLogic handles a comprehensive data supply chain of about 157 million properties in the U.S., covering residential, commercial, agricultural, and vacant lands. We collect, transform, and aggregate data from 22,000 sources, creating a single source of truth for properties across the nation. We have over 5.5 billion property and location records spanning 50 years, supporting more than 250 AI models.
Our focus is on using location-based data to find the areas of highest potential growth, using a select set of indicators identified from our many data assets, such as parcel polygons, ownership data, and property attributes.
Location Intelligence uses this deep property data to detect pivotal changes in real estate and land use, highlighting strategic growth opportunities. These data-driven location analytics can help you make informed decisions about where and when to implement new or enhanced broadband infrastructure as well as identifying who your potential new customers will be.
5. How does CoreLogic identify areas of growth for broadband expansion?
We identify “land in transition” by capturing factual growth indicators such as land use code changes, ownership transfers, and building permits. By monitoring these indicators, we can track when properties transition from vacant land to active development, allowing broadband providers to identify and invest in growth areas before construction begins.
Though this solution provides satellite views of properties, satellite imagery is not used in our analysis. Instead, we focus on more important early indicators like builder activities and permit filings, which are more predictive of future growth than satellite data alone.
Land In transition follows a typical progression of milestones. Finding and analyzing this property data among millions of records is a unique challenge.
6. Does this solution align with the broadband funding coverage map?
The broadband funding map, provided by the Federal Communications Commission (FCC) shows areas of federal funding for broadband infrastructure across the U.S. We’ve overlaid our growth indicators with these FCC-funded areas to demonstrate where broadband expansion is likely and where funding is available to support expansion.
7. What is a “growth score,” and how is it determined?
Our growth scores are determined by a predictive model and indicate the likelihood of future development for a given property. The growth score is based on leading and lagging indicators, historical trends, and geospatial proximity data. The higher the score of a property, the higher the number of growth indicators present and the higher the likelihood of development.
8: How does CoreLogic use AI to identify new addresses and potential subscribers?
Our AI models process over a billion address records from thousands of data sources, identifying about 75,000 new addresses monthly. These models distinguish between new construction and subdivisions, helping to pinpoint potential subscribers and new development areas.
9: How frequently is your property data updated?
Our data is updated daily, though in a few areas, the data is updated monthly. We work with over 3,200 county registrars and tax assessors to capture new addresses and property information as quickly as possible.
10: How do you deliver the solution, and what does it include?
Clients can access growth indicators and scores tailored to their geographic regions via direct integration with platforms like our GIS, Snowflake, or Databricks. We provide you with approximately 150 different factual indicators, including property-level data and geometry.
By leveraging data analytics and AI-powered growth solutions, telecom companies can proactively identify opportunities for broadband expansion, make informed decisions, gain a competitive edge, and maximize ROI, all while improving the customer experience.
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