Location Intelligence & Data
Geocoding and data enrichment solutions
Accurately geocode addresses and enrich data with detailed attribution for a deeper understanding of customers, properties, businesses, and competitive landscapes
Location context for analytics
Location intelligence identifies connections between geographic places and what exists or occurs there. But before these connections can be made, you need to accurately geocode each location-based record with geospatial coordinates.
Geocoding provides geographic coordinates corresponding to a location by standardizing, cleansing, and validating an address. Using the geocode to operationalize an address, you can begin to analyze the location and enrich the data for further insights.
Data enrichment adds additional contextual information such as demographics, boundaries, and points of interest to understand what is happening in specific locations. This provides insights such as who lives nearby, which neighborhood they are in, and what stores are within a five-minute walk. Data enrichment provides the context necessary to create data driven location strategies.
While software to match addresses can be valuable and is a key component of location master data management there is always a margin of possible error. Just like a fingerprint removes ambiguity about a person’s identity, a unique identifier resolves questions about a location. It provides an accurate and consistent view of a location and facilitates linking a location across systems or joining new datasets.
Precisely’s address datasets are appended with a unique and persistent identifier, the PreciselyID, and our geocoder appends the PreciselyID to ingested addresses. This ensures alias address records are not counted as duplicates and maintains data integrity when address strings change. When a street name or postal code changes, the PreciselyID remains unique and persistent to avoid inaccuracies in analytics.
The PreciselyID is also used in data enrichment to quickly obtain contextual information about an address. Appended to millions of data points, the PreciselyID links an address to points of interest, property, demographic, and boundary datasets. Performing a quick and simple lookup of a PreciselyID returns a wealth of information related to that specific geocoded point.
Precisely’s tools can help you manage and organize business data to bring greater location context to your analysis. Examine areas of overlap within your location data to understand and explore the value of not only where something exists, but where it overlaps with other valuable information and what that can mean for your business. For example, Precisely’s geocoding and enrichment capabilities enable you to geo-enrich an address and understand if it falls within a flood zone or an affluent area without needing to perform a point-in-polygon operation.
The unique and persistent nature of the PreciselyID facilitates seamless interoperability between datasets for data enrichment. Joining different datasets together with the PreciselyID field empowers you to analyze an address from multiple perspectives and eliminates time-consuming spatial processing.
Identifying target markets begins with location. Geocoding a store’s address gives you an accurate point for understanding service areas and conducting drive time or distance analyses. For example, you can locate who lives nearby or frequently travels to the area to define your target market. This location intelligence can help you identify where you should focus your marketing efforts.
Data enrichment takes you a step further. A valid address can be linked to detailed household, income, and consumer preference data for advanced customer analytics. Locate a prospect with confidence and get a complete picture of their world, from where they shop to what type of home they live in. These insights can help you build compelling marketing messaging, products, and services for your target markets.
Geocoded physical addresses connect to digital identities that further describe individuals. Consumer activity – from social media to online purchases – can give you the personalized details necessary to drive business strategies that put you ahead of the competition. By accurately geocoding and enriching store and customer locations, you can unlock insight at the right geographic level for your analytics.
Data enrichment that accurately locates where a consumer lives, works, and spends their time can give you the tools to more effectively engage with them. By gleaning deeper insight into their preferences and habits, you can create products, services, and marketing messaging that align to their lifestyle and needs.
If you know where someone is located, you can determine defining characteristics about them. Increasingly, consumers expect companies to understand who they are and develop customized offers and messages based on their profiles. Geocoding customer data can help reveal patterns that inform these strategies. For example, locating a customer’s home address in a neighborhood of predominantly Spanish-speaking households might help you decide to send them a coupon in Spanish. Or identifying that your customer’s daily commute passes by your store may lead you to sending them special mobile offers.
These personalized efforts increase customer loyalty and reduce churn. But geocoding can also help make your customers’ lives easier. Type ahead functionality can autocomplete the billing and shipping addresses on your ecommerce website to improve the overall shopping experience. It can also be used to power routing workflows that make sure packages arrive when customers expect them.
Determining a property’s proximity to hazards can help prevent under- or over-priced insurance policies. Rooftop-level geocodes provide the most accurate way to measure property risk, enabling you to analyze the structure itself in relation to the hazard. In turn, models built with accurate geocodes and enriched datasets vastly reduce time spent on data cleansing, allowing you to focus on high value analytics.
Accurate risk assessment is also vital to public safety and emergency response. Understanding a community’s exposure to natural hazards can help officials plan for and mitigate catastrophes. Enriching geocoded locations with information related to fires, floods, and earthquakes identifies where preventative measures should be taken, while measuring proximity to emergency services can indicate where resources should be allocated.
Equally, analyzing risk through data enrichment is increasingly important to consumers as they shop for a new home. When making the largest financial decision of their lives, consumers strive to know as much as they can about a given property. Understanding the specific risk profile of a property can help them make informed real estate and investment decisions.
Read the whitepaper “Why Hyper-accurate Location Data Can’t Be Overlooked in Risk Analytics” and explore how accurate location data represents opportunities to prevent losses and avoid adversely selected, underprices policies.
Adding value to location
It’s tempting to think of geocoding as a simple conversion process of inputting a street address and receiving coordinates in return. However, there are many potential pitfalls in the geocoding process. If you are unaware of these, you might generate inaccurate geocodes and not even realize they are wrong. This could have a major impact on your business outcomes.
Geocoding provides the greatest lift to your business strategy when highly accurate matches allow you to operationalize an address. Properly cleansing, standardizing, and validating an address ensures it can be properly located and enriched with the information you need to make critical decisions.
That’s why Precisely offers the most accurate global geocoding solution for over 250 countries. For global organizations, app developers, or any small business, we have a solution that meets your specific needs, offering deployment options for any IT configuration. But it’s the pivotal dimension of context that gives your data integrity and sets your business apart from the competition. Using the PreciselyID, a unique and persistent ID, or a geohash, you can accurately organize, geo-enrich, and visualize location data with more than 9,000 attributes, such as demographic, risk, or consumer data, making it more valuable and complete.
Whether you use Precisely software or that of another provider, our geocoding solutions give you the tools to operationalize an address. The built-in interoperability provided by the PreciselyID network allows you to geo-enrich an address with a wealth of contextual attribution, giving you the level of location intelligence you need for deeper insights.