24 May Location Analytics and How It Can Benefit Your Business
One of the many benefits of utilizing location intelligence is when compared with business information data, the result is Location Analytics.
Location Analytics Defined
Location Analytics is the process of evaluating, interpreting, and compiling geographic data and layering with business data to generate business intelligence. For example, Location Analytics can utilize firmographics for targeting business locations and generating related-business queries, such as employee size, volumes of sales, and contact information. This allows businesses to contextualize transactional data, visualize supply chain logistics, generate sales leads, and much more.
Organizations allocate, oversee, and revise vast amounts of information on a daily basis. The location of an asset in an organization impacts every aspect of the business that it’s involved in. Most assets are already associated with a geographic point, such as supply chain logistics have an origin point, the logistics route, and the point of purchase. For organizations that stretch across continents, location analytics can be essential.
There are various ways a specific organization can utilize location analytics. For example, a telecom provider targeting a specific area for expansion, by allocating the business information of multi-unit dwellings on a specific city block, and then comparing that data with the telecommunications carriers already available in the area, the provider can generate a list of sales leads for expansion. This allows an organization to gain a competitive advantage, which is one of the many business benefits of utilizing location analytics.
- Competitive Edge – get ahead or stay aware of the competition
- Hyper-local Intelligence – generate hyper-focused business insights for GIS
- Realistic Context – create digital twins of business functions and infrastructure
- Improving ROI, Increase Sales, Decrease Costs – collect and track business data to make informed business decisions and help the bottom line
These factors provide insight into how location analytics can benefit an organization. However, there are unique ways in which these types of analytics can impact individual businesses. To learn how location intelligence and analytics can truly benefit an organization, the first step is to begin utilizing this data.
Location Analytics with GeoTel
GeoTel Location Analytics allows users to develop reliable and accurate inferences regarding specific sites. GeoTel offers Site Location Reports as a Professional Service. Site Location Reports pinpoint a specific location and evaluate the various telecommunications location-based data in comparison with the business information data. This is just a singular example of the various ways GeoTel can assist an organization with location-based intelligence, contact the experts today to learn more!
Author: Valerie Stephen