Forbes Insights indicate that mapping various location data types, such as heat signatures, waterways and storm patterns, can highlight previously unseen spatial relationships and, consequently, improve decision making.
About 80% of all business data contains a location component, therefore, it is crucial for you to understand how location affects your business. If collected and sorted efficiently, location data can improve insights and benefit every area in your business, including marketing, sales, operations, logistics, and so on.
Location intelligence (LI) has become vitally important, yet often overlooked, when it comes to business intelligence (BI). LI is used to derive meaningful insights from geospatial data relationships to either create or improve processes and solutions within businesses.
Qlik GeoAnalytics is a platform that compresses and streams location mapping data.
Main Advantages of Location Intelligence
LI Compliments BI
LI reveals deep insights into relationships between geography and customer data, where BI will typically find basic relationships between customer data and locations.
LI Addresses the Here & Now
This specifically applies to marketing. Majority of advertising decisions is based on location data, as this improves the effectiveness of marketing campaigns.
LI is Visualised on a Map
LI can be visualised on a map to reveal relationships between data and information that would be obscured or difficult to comprehend in any other format.
LI Solves Secondary Issues
LI tools are now being used to solve secondary problems, opening up new ways for businesses to become more competitive in the market. Thus, location data is becoming the backbone of communication, development and distribution strategies in businesses.