Smarter Investment Decisions for Workspace Providers: The Instant Group
What’s the most important factor behind the success of a flexible working space? Anyone in the industry will tell you it’s location. Whether it’s understanding demand, accessibility, competition or real estate costs - where you decide to operate is the most significant decision you will make.
That’s why The Instant Group is putting location at the center of their industry-leading solution: Coworkintel.
To address these challenges, The Instant Group has enhanced their data and insights platform with a new feature: Find New Locations, built on CARTO’s Location Intelligence platform. This tool equips flexible work providers with the insights they need to make informed, data-led decisions quickly and effectively.
Flexible workspace providers can leverage this tool to undertake:
- Site selection by analyzing site-specific data for over 40,000 coworking and flexible workspace locations. Users can explore supply, demand, occupancy, and pricing trends, as well as gain insights into optimal locations for new flexible workspaces.
- Explore global market trends through identifying emerging markets and enabling informed expansion strategies. Access data for over 2,000 cities worldwide!
- Pricing strategy delivery by assessing competitor pricing and popularity across different service tiers (high-end, mid-range, economical).
- Performance benchmarking, giving users the ability to analyze market dominance of flexible workspace providers across various markets, offering valuable insights for strategic decision-making and performance evaluation.
Beyond flexible workspace providers, Coworkintel also helps landlords identify whether their building and assets would be suitable as a flexible workspace by helping them to understand the local supply and demand landscape. Landlords can also leverage Coworkintel to develop pricing and marketing strategies targeted to specific locations.
The new approach that The Instant Group has taken gives decision makers direct access to the data and information they need. The key benefits to their approach are:
- Reduced time-to-insight: the ability to build intuitive maps with CARTO enables them to simplify complex datasets, providing decision-makers with direct access to critical market insights. These visualizations enable swift decisions on new flexible workspace locations. The dashboard has been designed with the map as the focal point, allowing the user to easily derive geographic context for the data which builds trust in the insights they are obtaining.
- Streamlined Data Access: the user-friendly interface allows for effortless access to and analysis of market conditions in specific neighborhoods. This accelerates decision-making, empowering flexible workspace providers to adapt rapidly to changing market dynamics.
- Robust Privacy Controls: due to the commercial sensitivity of the data involved in building this solution, The Instant Group has incorporated data-driven styling into the dashboard to highlight only locations which passed the required privacy threshold.
The new feature not only enhances decision-making for their users, but also unlocks new customer segments and revenue streams for The Instant Group. By providing detailed, user-friendly insights into specific market conditions, they can expand their market reach to more flexible workspace providers and landlords to their platform.
Are you looking to create an application like this to help your users get hands-on with their data? Follow in The Instant Group’s footsteps and give CARTO for React a try!
We offer a seamless integration with the React framework, providing developers with a powerful toolset for building sophisticated geospatial applications. By leveraging React's reactive programming paradigm alongside CARTO's cloud-native geospatial functionalities, developers can create apps that are easy to maintain, test, and scale.
You can learn more about our modern developer toolkit here, or check out our documentation to start building with a free 14-day trial!
By leveraging CARTO, The Instant Group has empowered their users with an easier way of accessing flexible working insights, accelerating the decision-making processes and driving business growth. Would you like to learn more about this tool? Sign up for The Instant Group’s upcoming webinar here to learn more!
Feeling inspired? Schedule a free demo with one of our geo experts and learn how you can start building scalable spatial solutions today!
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