October 28, 2022

Which Businesses Can Benefit From Location Intelligence Data

More and more businesses and organizations are using big data research to make decisions and solve problems. This type of research is known as business intelligence, or BI, in the business world. Data on where (and when) things are located and events can be included as part of a company's BI strategy. This is referred to as location intelligence or LI.

So, what exactly is location intelligence? And which businesses can benefit from it? In this blog post, we will cover all these aspects in detail. So, let’s dive in. 

Understanding Location Intelligence

The visualization and analysis of geospatial data are used to achieve location intelligence (LI). Analysis of geospatial data improves comprehension, insight, decision-making, and prediction. Organizations can use intelligence tools to identify where an event occurred, understand why it happened, and gain insight into what caused it by adding layers of geographic data to a smart map or dashboard, such as demographics, traffic, and weather. Many organizations rely on geographic information system (GIS) technology to create location intelligence as part of a digital transformation.

Who Makes Use Of Location Intelligence?

Businesses, as previously stated, can benefit from location intelligence, but they are not the only ones. Here's a quick rundown of industries that use location intelligence and why:

  • Retail: Choosing locations for brick-and-mortar stores that are likely to attract repeat customers.
  • Insurance: Assessing risk and pricing policies for properties or people accurately
  • Finance: Making more accurate predictions about which industries or brands will be good investments in the future, and why.
  • Healthcare: Measuring healthcare accessibility and how geosocial factors affect people's health (and risks to it)
  • Marketing: Understanding a brand's primary customers and tailoring campaigns to reach them in the places they frequent.
  • Real estate: Investing in specific properties that will yield high returns when sold to commercial or residential developers.
  • Energy: calculating average foot traffic in commercial areas to monitor power consumption and regulatory compliance
  • Telecommunications: Analyzing demand and competition in a given area to plan a network optimally.
  • Government: Planning urban buildings and services based on constituent needs and movement patterns.

How Do Businesses Make Use of Location Data?

The majority of data points are associated with physical locations and times. However, location is more than just a common thread connecting disparate data sources and breaking down silos—it can frequently provide the most transformative insights. Location data analytics is used by organizations to solve business problems and uncover new opportunities. Location intelligence solutions are essential to business intelligence (BI) software.

GIS technology provides a software framework for managing, visualizing, analyzing, and ultimately comprehending the significance of location data. GIS, which is based on science, assists businesses in gaining actionable insight by integrating all types of data. GIS-powered location intelligence transforms businesses and organizations across a wide range of industries.

Wrapping Up

If you are looking for reliable Location Intelligence Data, AirSage is the name you can rely on. With their Location Intelligence Software, it allows users to store, visualize and analyze geospatial data in real time to gain actionable insights. Location intelligence technology is an essential business intelligence tool, frequently leveraging maps and dashboards to make geospatial insights easy to share with executives and decision-makers. Analysts can use the software to combine various types of data, including demographic information, customer relationship management (CRM) information, and supply chain information.

Interested in learning more about location Intelligence? Check out our other blog posts.

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