Geocoding update: Accuracy, census block and tract, PUID & more
Smarty™ has been creating top-notch address data tools since it's inception in 2011. A key part of providing the best location data and address data tools in the world is keeping those products at the cutting edge of the industry. We do this by adding new features, products, and solutions that our customers can use to improve their lives as often as we can.
In a recent webinar, our Chief Product Officer Berk Charlton outlined some of the newest features we've added to our US Rooftop Geocoding tool.
Smarty's US Rooftop Geocoding
As of July 2023, Smarty's US Rooftop Geocoding tool has a 97% rooftop/parcel accuracy. This means that when you search an address in the United States, we'll drop a pin on the actual rooftop of the building 97% of the time.
It's important to note that this includes sub-parcel accuracy, meaning if you have a single building with multiple addresses in it like apartment buildings or malls, we're able to drop a pin on the portion of the rooftop that belongs to that address.
Aside from this astounding accuracy, the remaining 3% of addresses can get down to a ZIP9 accuracy.
And we don't deliver false positives.
This means if we don't have an address, we tell you rather than pretend that we do. This is something to consider if you're dealing with large amounts of data in a geocoding tool.
New feature: Census block
In September of 2023, we'll be adding the 15-character 2020 Census Block to our US Master Address List.
This information can be used to better understand the properties of the addresses in your database. For example, loan and mortgage compliance (CRA/HMDA) companies will need these codes in order to be compliant with federal lending practices. If you're working with Census demographics, this gives you the information you need all in one fell swoop. If you’re interested in learning how Smarty can help you, take a peek at our FFIEC Geocoding article.
If you're a current US Master Address List customer, you'll see these data points added in your next update.
New feature: SmartyKey™
We've added a persistent unique identifier to virtually every postal and non-postal address in the US. New SmartyKeys are added monthly for new addresses.
What is a persistent unique identifier you ask?
Persistent unique identifiers like SmartyKey are static and consistent identifiers that stick with an address making your database impervious to changes. For example, if the City name changes, the Street name changes, or if the ZIP Code changes.
If you're working with data blending—merging, appending, or deplucating—then having SmartyKey in your data makes everything much easier.
SmartyKey has already been added to our US datasets.
New product: Address Enrichment
Coming in the next several months, Smarty Address Enrichment will use the SmartyKey to link data from a variety of data sources including:
- Property data attributes
- Census block number
- Political boundary attributes
- Weather and climate data
- P&C insurance risk attributes
- More to come
This enriched data can turn your address database into a treasure trove of data.
If you're considering using geocoding tools, you may benefit from our ebook "8 Questions to Ask When Selecting a Geocoding API" that Berk mentioned during the session.
If you'd like to watch the full webinar recording, you can find that here.
