Data-Driven Site Selection for Senior Living
Today’s senior living industry is driven by a demand for communities that are not just residences, but hubs of vibrant and fulfilling lifestyles. Staying competitive in this market means choosing the right locations for each facility, providing services and activities appealing to the area’s seniors, and developing strategic marketing campaigns to reach them.
Traditionally, the insights needed to successfully open and operate a leading senior living facility required extensive and complex data science workflows, not to mention sourcing the right datasets to begin with. These barriers often prevent senior living facilities from reaching their full potential, as many organizations are not equipped to fully harness the power of data to unlock location intelligence insights.
Luckily, accessible location intelligence solutions are available, a fact some of the industry’s most successful brands are using to drive strategic growth. In this blog, we’ll explore how Datastory works with one leading national senior living facility brand to optimize and expand their site selection strategy in today’s hyper-competitive market.
MapDash is preconfigured with location intelligence report templates to streamline site selection decision-making with stakeholders.
Unlocking senior living market insights with MapDash
Datastory’s turnkey location intelligence platform, MapDash™, empowers senior living facilities and other organizations engaged in real estate with the ability to investigate potential sites and scenarios to make informed decisions. Complete with a robust data library that includes all of the inputs required for site selection, MapDash eliminates the need to source, clean, and manipulate datasets from disparate providers. This data can then be easily analyzed in just a few clicks with intuitive location analytics tools, and results can be communicated instantly thanks to preset infographic and reporting templates.
MapDash puts all of the information needed for data-driven site selection right into the hands of decision-makers, ultimately driving better business outcomes. For example, a top senior living facility chain in the US employs MapDash's comprehensive suite of tools to unlock unparalleled insights into demographic trends, market demands, and the competitive landscape, setting a benchmark for strategic site selection in the sector.
Thanks to MapDash, the leading senior living facility is able to:
● Capitalize on demographic trends: Simple-to-use analytics tools illuminate demographic intricacies of potential locations, identifying regions with a significant senior population poised to benefit from the facility's unique offerings.
MapDash makes it easy to visualize important community amenities such as nearby healthcare facilities.
● Navigate market dynamics: Data available in MapDash makes it possible to dissect the competitive terrain, pinpointing untapped markets ripe for the introduction of a new facility and areas where the market is oversaturated, guiding strategic decisions about expansion or consolidation.
● Optimize for accessibility and engagement: Proximity analysis tools ensure that chosen locations offer seamless access to healthcare, entertainment, and social engagement opportunities, integral to the enriched living experience the facility aims to provide.
● Integrate with the community: Empowering a deep dive into the socioeconomic fabric of targeted areas, MapDash helps the facility identify locations that not only promise a thriving resident community but also opportunities for meaningful integration with the surrounding locale.
● Shape resident experiences: MapDash not only helps the brand select the right locations for facilities, but also foster vibrant, engaging, and fulfilling communities for residents of particular locations by making it possible to understand local lifestyles and affinities.
A new standard for senior living
With MapDash, senior living brands can understand the geographic distribution of lifestyle segments and ensure facilities cater to their predominant resident audience.
The partnership between Datastory and the top-recognized senior living facility is a testament to the transformative potential of location intelligence. By providing meticulous analysis and strategic insights, MapDash helps the facility make informed decisions about opening new locations and optimizing existing ones, always with an eye towards enhancing the resident experience.
As the senior living brand continues to grow and evolve, guided by the insights and analyses made possible by MapDash, it stands as an example for other organizations in the sector. This case study not only reflects the successful application of location intelligence in senior living, but also paves the way for a future where facilities are truly aligned with the lifestyles and aspirations of their residents.
Datastory's role in leveraging location intelligence has proven to be a game-changer, offering a blueprint for the industry on how to utilize data-driven insights to meet the complex needs of an aging population. To learn how you can leverage MapDash for senior living facility site selection, get in touch.