photo of earth with location coordinates
GIS

Is Location Intelligence the key to a profitable business?

October 19, 2021

Introduction

Companies worldwide invest a lot of money and time into solutions to help them collect data from their audience. However, there is a difference between simply collecting data and understanding what that data means. 

You may know that your customers love to enter your stores at certain hours of the day. Despite that, the question still stands: which of your physical stores do they enter that gives you that statistic? Is it a select few stores in a particular vicinity, or is it every store you own? The question of “where” is one that companies always need to answer to maximize their business.

As you may have guessed, location intelligence is a critical factor in the success of your business. However, is the science of “where” indeed a sustainable way to improve your business? Let us find out together:

The True Meaning of “Where”

Before we get into understanding why location intelligence can be a sustainable way to grow your business, we must first understand the meaning of “where.”

What does “where” mean? Many people assume answering the “where” questions simply means stating the location, place, or geography of a specific item. While that may be right, those three terms mean different things. The location connects people to a particular area, while the place describes the influence of where a specific thing is. On the other hand, geography provides the answer to what is happening in a specific “where.”

For businesses, the focus is on the geography of things, and it is through this science that location intelligence is maximized. Geography provides greater insight to help businesses make a decision, leading to questions like, “What can I do to improve things?” that sparks business growth.

Location Intelligence Makes Things Make Sense

Simply put, location intelligence is what helps businesses make sense of what’s happening in different locations, more specifically in their geographies. Through geography, we can organize where things are happening to different places. Plus, with things constantly evolving, tracking what’s happening in different geographical places helps companies make the right decisions to minimize losses and maximize gains.

Whether a business is in the public or private sector, geography has become a vital part of operations. Through it, the application of place and location has become seemingly endless, and with the assistance of technologies like IoT (Internet of Things), connecting the dots within each geography has become a lot easier.

Conclusion

With technology ever improving, the science behind the “where” will only become much more critical to businesses. Billions of devices around the world are connected to one another in different ways. With location intelligence, it can be used by companies around the globe to track various activities in different geographies. 

That being said, if your business has yet to employ some form of location intelligence to support your business, do so right away. The future is all about knowing what happens, where exactly it happens, along with why it happens. By answering all of these three questions, you can always be at the right place at the right time, ensuring that your audience looks to you first for what you have to offer, bringing more profits and growth to your company.

Ellipsis Drive offers storage solutions for companies to become more successful when using, producing, and sharing spatial data. If you are looking for a spatial data platform to support your business, reach out to us today!

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