Location Intelligence: The Data-Driven Paradigm Shift
Location Intelligence solutions are changing the game
Devices such as mobile phones, wearables, embedded sensors and connected cars are generating more valuable location data than ever before. Organizations are taking note, recognizing new and innovative ways to use data to deliver personalized services, identify business opportunities and quantify risk. By leveraging location intelligence, organizations can optimize customer experiences, “ultimately deliver[ing] the best possible experiences continually—at scales that can differentiate the business from its competitors,” according to a recent Forrester report, The Forrester Wave™: Location Intelligence Platforms, Q4 2018.
But while a staggering 87% of organizations think that Geographic Information Systems (GIS) are an important function for their business, there are challenges to achieving meaningful location intelligence. Part of the problem is access. For years, GIS has been the exclusive domain of mapping experts and government agencies. However, by democratizing location intelligence and delivering its unique insights into the hands of people beyond the GIS team, organizations can drive high-value, data-driven business insights to improve their business operations. The challenge is to move from being solely “map-centric” toward becoming “data-centric.”
Following on this idea, another key challenge is data hygiene. In the race for first-mover advantage, many organizations overlooked the core principles of data quality and management. Indeed, a recent survey reveals that the main challenges of GIS include data accuracy (32%) and efficient data management (31%).
Deliver on due diligence: Collecting increasing volumes of location data is a futile exercise unless the critical business challenge can be recognized. For this reason, it’s essential that organizations determine what they want to accomplish from developing a greater understanding of the relationships among people, places and things. Is the goal to identify emerging market trends in the global economy or is it to roll out new services to a dwindling customer base? The clearer the data objective, the more likely it is that an organization will reap a return on its investment in data capture.