Redlands, California—Security Service Federal Credit Union has reduced its market research time and increased its ability to view potential market areas by using BusinessMAP Financial (FSE) from ESRI. The solution allows Security Service to find useful demographic information about its target audience for areas surrounding current service centers to help it evaluate potential sites for new service centers.
After trying another Web-based geodemographic solution, Security Service licensed the ESRI software. “The program we were using previously had serious limitations with what we wanted to do such as the inability to import and export data and the length of time it took to run complex queries over the Web,” says Javier Cano, business development analyst, Security Service. “BusinessMAP FSE was able to easily resolve the issues we had.”
BusinessMAP FSE is an easy-to-use database mapping product that gives access to a number of datasets for financial analysis and planning activities:
- ESRI’s 2005/2010 Demographic Data
- Community Tapestry Segmentation System
- Credit Union Data from National Credit Union Administration
- BranchInfo Data from RPM Consulting
- MarketBank Data from RPM Consulting
- Community Development Financial Institution Data
- Aggregated total employee data from infoUSA
- Street-level map data for North America from Tele Atlas
The software also comes with more than 25 report templates including Demographic Summary, Net Worth Profile, Deposit Potential, Loan Potential, Competition, and LifeModes. The reports are formatted to work in Microsoft Word and Excel and include maps and graphs to visually illustrate the report data.
“The functionality of BusinessMAP FSE exceeded our expectations,” says Cano. “The demographic data is easy to query. The canned reports and the ability to customize these reports makes it easy to specifically grab what particular demographics and data we need.”
Security Service Federal Credit Union has taken advantage of standard market analysis features of BusinessMAP FSE such as ring studies and drive-time analysis, finding competitor sites, and viewing retail and deposit potential for new market areas.