Data is the heart and soul of all modern marketing and business processes. Nowadays, most of the businesses are using information attained from multiple sources to refine their products or services as well as their marketing strategies. Accessing this data can be a challenging process, especially for people who don’t have much experience in this field. The data like location intelligence insights is derived from tons of big data and mobile device data. This could also be a combination of government sources, industry data, customer data and location apps. These insights can be highly targeted and help businesses obtain target market demographics.
What is Location Intelligence?
Location Intelligence is the process of studying geospatial data, or information specific to a particular region. This information can vary significantly based on the region’s government, culture, population, environment, history, and lifestyle. For example, information from Indonesia will be vastly different from the information gained from New Zealand.
Useful Information : time tracking software
Studying this information allows businesses to develop programs and strategies to suit a specific population. Location Analytics goes beyond just collecting and organizing geospatial data, it visualizes it and helps you understand the differences between different sets of data.
How Does Location Analytics in Retail Work?
Modern technology has made it easier for businesses to extract data from different sources to refine their processes. You can use location mapping software to get accurate insight into different customer behaviours based on their location and environment. Google provides the best example of this process. When you type a certain product or service into the search bar, the search engine immediately provides information from sources close to your location. For example, when you ask “what’s the weather?” while you’re in Sydney, the search engine will automatically provide the weather information from Sydney.
This is the most superficial information because location intelligence software can go much beyond that. Here’s a look at how it can benefit you:
- Insights on Customer Behaviour – You can get deep insights into customer behaviour based on location and cater to them accordingly. For example, Starbucks relied on location intelligence to determine that Chinese consumers prefer tea in overwhelming majority. This prompted them to offer a diverse menu of teas to the consumers based on specific insight provided by the data. Such pieces of information can take your business to new heights.
- Increase Customer Loyalty – Modern consumers value personal experiences over everything else. That’s one of the reasons why getting location-specific data on customers is very important. You can look at your location-based data and provide customized services. This will provide a more personal experience and impress your target audience.
- Providing Access – Studying geospatial data also helps you determine where you can establish your presence. For example, a cafe will be more successful in a business district than it will be in a residential suburb. You can study your target demographics’ movements and geographical preferences and provide access based on this information.
All this information showcases how useful location analytics software can be. Fortunately, modern technology is designed to be user-friendly and efficient. You don’t have to be a tech-savvy or technically sound in GIS to take advantage of location mapping software. Sophisticated GIS location and mapping software are user-friendly and can be used by anyone without any GIS knowledge.