Compare Markets

Megan Horn -

Why would you use the Market Comparison Tool?

Help make decisions about priorities within your current markets:

  • Which markets should be our primary focus?
  • Which markets should we invest in?
  • How well does this market fit what is important to our lending and sales models?

Determine and rank the attractiveness of new markets, based on many different attributes and market behaviors

Find markets with a lot of opportunity in your targeted market segments

  • Which markets are strong for Middle Income borrowers?
  • Where can we go to improve our CRA lending?
  • Which markets will be best for our VA products?

Create a new market comparison:

1. Click to open the Comparisons tab in the Map Contents Toolbar

2. Click on New Market Comparison button to begin

3. The New Market Comparison dialogue box opens

4. Name your new market comparison and provide a description

5. Choose the Geography Type: MSA, County, and Tract are available now

6. Market Level Geography will be available in an upcoming release

7. Click on the Save Changes button

8. Begin by selecting the fields or attributes you want to use to create your comparison

9. Click on the dataset that contains the attributes you want (e.g. click on Owner-Occupied Purchase Forecast if you want to include the 2014 PMGR)

10. You can select attributes from multiple datasets

11. Check the individual attributes to include

12. Click on the Add Fields button to add them to the Comparison

13. Choose a weight from 0-10 to determine the value of that attribute to the comparison (an attribute with a weight of 10 is twice as important to your comparison as an attribute with a weight of 5)

14. Check this box if you want to “Reverse Rank” the variable (which means that the markets with the LOWEST actual value get the highest rank)

15. Click on Save Changes before moving to the next tab in the wizard

16. Move to the next tab in the Comparison Tool to select the locations for your comparison

17. You can access the component tract, counties or MSAs you want using a list of states/MSAs or by a list of your markets

18. Click on the state, market or MSA you want and the component geographies will populate in the middle column

19. Click on the Add Locations button to add them to the analysis

20. You can continue to add locations to your comparison by using the state/MSA and market lists

21. You can remove or delete individual markets from the analysis using the trash can icon to completely delete them; you can uncheck them to make the markets inactive in your comparison

22. Click on the Save Changes button to proceed

23. The Market Ranking tab will show your locations ranked according to the variables and weights you chose

24. You can change how the tiers are created by selecting the classification methodology and the # of tiers (break count) in the analysis (we suggest using the Quantile methodology for this)

25. Each time you make a change to the comparison, click on the Refresh button to update the results

26. Click on the Save Changes button to proceed – if you do not, any changes to this comparison will not be saved

27. You can view the results of your comparison in a grid (table) or on a map

28. There are two options for the grid: Summary and Detail

29. The Summary table shows each market’s priority score, tier and associated color. Sorting the priority scores from lowest to highest will show you the ranking

30. The Detail Grid view shows you each market’s actual values for the variables you selected for the comparison, and how the market was ranked for each variable

31. Detail grid also shows you the overall priority score and tier

32. Both the Detail and Summary tables can be sorted by column and exported directly to Excel using the Export button in top left corner

33. Click on the View Map button to see the symbology on the map for how your markets were ranked by tier (see Legend at left)

34. If you make changes to the method or # of breaks, you will need to click on the Refresh button, which will bring you back to the Grid View

35. Click back on the View Map button to return to the map

36. Don’t forget to click on the Save Changes button before you exit the Comparison Tool

Why would you create markets directly from the Comparison Tool?

  • Build and execute strategies specific to tier, allowing you to put more resources into your top tier counties (Virginia market can be partitioned into Tier 1 Virginia, Tier 2 Virginia, etc. for strategic purposes)
  • Refine geographic markets easily by priority
  • Creating markets in MMS allows you to save the group for future use in tables, maps and additional comparisons

1. Click on the Create Market button

2. The New Market pop-up window opens

3. Choose a name, description and color theme for the new market

4. Choose the tier or tiers you’d like to use to create the market

5. Don’t forget to click on the Save Changes button before you exit


Access your saved Comparisons

1. Click the comparisons tab on the Map Contents Toolbar

2.You can edit, copy, rename and delete your Comparisons

3.Use the Search function to find specific Comparisons

4.To add your comparison to the map, click on the “+” sign to the right of the Comparison

5.Configure the symbology, transparency, etc. of your Comparisons from the Map Contents tab

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