Location Intelligence

Location is a basic principle of every business such as Banking, Insurance, Hotels & Restaurants, Retail, Utility, Real-estate, Manufacturing etc. Being one of the most important strategies it still remains most under-utilized decision making factor. Location intelligence can help businesses uncover new business opportunities & new customer segments, determine to draw better insight and help you focus on location which is a crucial factor in business decision making.

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At this point a question may rise in your mind that what is this Location intelligence. Location intelligence is an important tool used in modern business to make strategic decision. Location intelligence refers to a business intelligence tool that relates geographic contexts to business data. Similar to business intelligence, location intelligence software is designed to turn location data into insight for a host of business purposes. This tools draw from a variety of data sources, such as geographic information systems (GIS), demographic information, aerial maps etc. Owners own website database can also be used to as data source of location intelligence.

Location intelligence

Location Intelligence uses fundamental concepts of Business Intelligence combined with GIS concepts to develop a platform for more comprehensive location data analysis. So to understand Location Intelligence we need to have some sort of idea in Business Intelligence and Geographical Information System.

Business Intelligence has been practiced for decades and its conventional tools for many industries. BI has mainly focused on “business data”.  Classic Business Intelligence systems handle the “Who”, “What” and “When” factors and it has yielded net returns for its skilled practitioners.  On the other hand Geographic Information Systems (GIS) have been a niche technology in the past which was mostly used by geographers, government intelligence agencies, Real estate and land management companies etc. GIS have been predominantly focused on capturing, storing and visually displaying location information.  GIS has focused on “environment data” across large geographic areas such temperature, vegetation density, water supply, Power supply, Transportation etc.  Data is acquired via sensors generally mounted to satellites or aircraft.

Companies like DigitalGlobe and GeoEye are taking massive quantities of global sensor data and making it commercially available at marginal cost.  Partners such as Microsoft and Google get it virtually free.  Cloud based services like Flickr and Twitter are producing substantial quantities of location specific detailed user data that is available for anyone. Data storage is also completely commoditized through solutions like Amazon S3. The smartphone is being adopted at an amazing speed resulting in the sensing of the regular person easily.  People all over the world are recording their activities and experiences and sharing them in the cloud services. In return they are getting right to use to other users’ information and through service providers.

We are in the early stage of the Location Intelligence. Navigation is so simple even Mom uses it now.  Commercial activity in Location Intelligence is increasing constantly so the base of location data is growing rapidly. Location Intelligence can harness the power of location and realize untapped sources of return on investment (ROI).