What is location analytics and why should I use it?
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.
Free Pre-Assessment Request
Do you want to know how your competitors are doing business?
Tell us a little about yourself below to gain data for free
WYgroup BI uses the information you provide to us to contact you about our relevant content, products, and services . You can unsubscribe from communications from HubSpot at any time. For more information, check out WYgroup’s Privacy Notice.
By continuing to browse or by clicking "Accept", you agree to the storing of first and third-party cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. I AcceptCookie Notice