The collection and analysis of large sets of geospatial, GPS, and location data to transform raw data into actionable business insights is called location intelligence (LI).
Data collected from vehicles, roads, city infrastructure, mobile devices, and location platforms can be harnessed and visualized on specific map layers and other map-centric interfaces to help users gain location insights, and subsequently use those insights to help guide their decisions for various projects. For instance, the insight can be used to understand how people move throughout the urban fabric of a city or even on longer trips between cities and states. In other applications, it can be used to improve performance and decrease costs.
The concept of location intelligence has spread across many industries and is expected to grow further. The global location intelligence market is expected to reach $25.25 billion by 2025, growing at a 15.3% CAGR over the next ten years.
How Location Intelligence Empowers Transportation Organizations
1) Travel Demand Modeling
To supplement traditional travel surveys, transportation planners routinely use big data from wireless carriers, smartphone apps, and smart cards. Location intelligence helps transportation planners understand and forecast travel demand by estimating how many trips people take, where they go, and which mode or combination of modes they use. Public sector organizations (and the consultants supporting them) use location intelligence data in various ways, and use cases continue to grow in the transportation planning sector.
2) Driver and Fleet Safety
Fleet management is simplified when leveraging location intelligence. Managers can monitor driver behavior to limit potential risk and operational costs, which is critical for any organization. Vehicle tracking provides real-time location intelligence for field service businesses (i.e., utility providers, plumbers, and delivery drivers). GPS tracking can keep fleet managers informed of the exact location of all vehicles at all times. It can even provide updates regarding the estimated time of arrival (ETA) to management and customers. In terms of fleet safety, location intelligence data can help protect assets by providing real-time visibility, alerting if there is any unauthorized movement during off-hours, and detecting theft.
3) Route Optimization
Long delays and adverse weather conditions can endanger shipments in transit. Logistics companies can use LI platforms to optimize routes and provide vehicles with faster routes after taking into account key factors such as weather, road, and traffic conditions. When combined with real-time traffic information, location intelligence data can even provide a detailed picture of current road conditions that will impact arrival times. The right LI tools will also provide information such as frequently congested routes, closed roads, and newly opened roads. With live tracking, businesses can also get real-time insights and estimated ETAs.
4) Managing Transportation Costs
The right location intelligence tools can help businesses reduce and control transportation costs by providing enhanced visibility into their spending. Location intelligence data allows for the tracking of expenses and the analysis of the cost-to-distance ratio. It helps in reducing the costs associated with delays by allowing fleet managers to make better informed decisions near real-time.
5) Customer Service and Notifications
Geofencing is one specific method that a business can leverage in order to keep management and customers informed about delivery of a package or arrival of a service technician. When a tracked vehicle enters a predefined geofenced area (i.e., within 15-minutes of its destination), it can trigger a system to send a notification to the customer in order to allow them to prepare for the impending event. Similarly, the system can notify managers to have insight on how their staff is advancing between deliveries or house-calls during the day.
Businesses Can Make Informed Decisions With Location Intelligence
Location technology is a huge advantage for all sizes of businesses that provide transportation services. It helps businesses offer more customized and on-demand services by using maps, built-in connections, and real-time data for road conditions, weather changes, visual routes, and other location-based information.
Transportation organizations that use location intelligence to detect patterns are able to manage transportation infrastructure more effectively, tailor more efficient services for their stakeholder, and better meet their customers’ expectations. Location intelligence should no longer be considered a buzzword. Instead, it will spur practical changes in the transportation industry. If you are looking for more information on location intelligence, look no further than AirSage.