Geocoding for Business
Considerations for selecting geocoding technology to support a winning Location Intelligence business strategy. Understanding the significance of location That’s the whole point of geocoding. Business operations in industries as diverse as insurance, financial services, and telecommunications are more reliant than ever on Location Intelligence.
Location Intelligence is the art and science of analyzing the connections between geospatial locations (latitude and longitude coordinates) and what exists or occurs in these locations (customers, businesses, crimes, weather events, traffic, etc.). But before you can analyze the connections, you need to define them, associating each location-based record with accurate geospatial coordinates. Location is at the heart of key business questions:
- How can we sell to more homes within our service area?
- Is the insured property in an area with increased risk of natural or manmade hazards?
- Is our home loan portfolio overexposed in a high-risk market?