For most Business Intelligence (BI) professionals maps are becoming increasingly important to view data in a dashboard or report. Though, most BI professionals have yet to be exposed to the full power of location intelligence, and that’s an embarrassment. Location Intelligence (LI) refers to the capacity to organize and understand complex phenomena through the use of geographical relationships inherent in all information. Location intelligence uses fundamental concepts and methods that have evolved in the Business Intelligence (BI) domain combined with Geographic Information System (GIS) concepts and methods to develop a platform for enabling more comprehensive location data analysis. Read more about different industries that can gain from using location intelligence in their data analysis.
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Location is one of the major challenges for Communication Service Providers and it’s also a critical success factor for this industry. Location Intelligence helps the telecom industry significantly through spatial analysis and cartographic visualization. It helps in Network QoS analysis and site planning, detecting gaps and overloads in service coverage, evaluating impacts of marketing and sales growth against network plan, identifying potential tower build-out opportunities.
Bank, Insurance and other financial service is heavily dependent on location intelligence to define their service area and opening new branch. Assessing risk enables financial companies to structure a fair, reliable and profitable business model. Considering the location of customers in relation to other location-based data (i.e. rates of car theft, frequency of severe weather systems by city or state) enables insurers to identify high or low risk cases and price them accordingly.
Low-level government bodies can use Location intelligence with great effectiveness. Any local council could use Location intelligence to plot the distribution of regular borrowers from its libraries. Areas with no debtors or low borrowing rates could be easily identified and targeted with literacy campaigns. Further research could be conducted to establish if additional facilities need to be built.
Tracking stock levels enable retail managers to coordinate warehouse deliveries to ensure individual shop fronts are always well stocked. Observing sales of particular items by region or store also allows for more effective and efficient stock delivery. Moreover, new mobile applications such as Foursquare can actually detect when registered customers are near a store. Combining this data with customer transaction record, a text message can be sent to that customer when they are in the neighborhood, notifying them to products and special offers that match their purchase history.
Management will be able to track, plot the location of infrastructure and resources or potential resources is critical for corporations in the mining sector to properly assess the profitability of any given exploration or venture.
When management monitors the location of deliveries it boosts the number of timely deliveries and allows for efficient dispatch and supply-chain management via accurate estimated time of arrival calculations.
Mapping a range of metrics helps universities offer better teaching and learning environments, and facilities. Universities consume and produce a huge amount of data. Joining geographical components to student data can allow Higher Education institutions to develop more effective marketing campaigns by visualizing student intake by postal address and more effective research grants can be made by assessing the number of incoming grants by geography.
A crucial feature is the location of the hotel and restaurants. For instance, everything else being equal, a hotel close to the beach is typically more desirable than a hotel that is separated by a highway from the beachfront. Likewise, a hotel located in the downtown area can charge higher prices than that located at the outskirts of a city, and still make a sale. Location-based features like “proximity to the beach” or “near downtown” represent important characteristics that influence the desirability of a specific hotel and in turn can influence the corresponding rate of that hotel.
Real estate industry heavily depend on location intelligence as whenever you buy or sell land or apartment you consider its location, geography, traffic, transport facility etc. all this are discussed by location intelligence.
Location intelligence allows organizations of all types to realize relationships and prospects hidden in their data by enabling enhanced and multi-dimensional analysis. LI’s impact on marketing and distribution is particularly strong and facilitates the above mentioned industries.
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