Technology & Innovation

Author

Carlos Barge

Today, there’s no shortage of ways multiple industries can and do use location and geo-analytics. In the retail industry, for instance, sales data can be valuable by location, and can give companies greater context when making strategic decisions about where to allocate more resources.

By combining sales and location data, companies can create heat maps that show the most profitable areas and those where improvements could be made.

Location analytics or Location Intelligence is the ability to gain visitor insights within a specific location or area. In simple words, it is like web analytics for the physical world. The insights are gained through a visitor’s mobile device using a platform (software) on top of WiFi, Beacons (devices like iBeacon) or GPS infrastructure in that location.

Aside from sales, companies can use their location data by comparing it to customer satisfaction metrics. This lets companies determine regional preferences, effective sales strategies, and peak purchasing periods to better plan their global efforts.

For couriers and governmental postal agencies, location analytics can be used to track packages and delivery routes. On a broader level, they can also be used to determine the best possible routes by combining previous data alongside real-time traffic data and combining multiple delivery points to minimize wasted resources and time.

Supply chain and logistics companies can also reduce time wasted and find optimal travel routes for their supplies by determining the efficiency of existing chains. Using location data, they can visualize routes, find bottlenecks, and discover the best way to structure their operations for optimal performance.

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