Location Intelligence For Business Success
January 16, 2015 | sgsi
Understanding “Where” is Critical Business Analysis
Who, what, why… These kinds of questions are important to answer when analyzing what’s happening with your business. Who is buying your products? What do they like or not like? Why are customers joining or leaving your service?
With the advent of big data and especially mobile data, another question has become critical to ask and difficult to answer… where.
Answer “Where” Questions with Data
Where are your most loyal customers? Where are the stores which are selling through your products the fastest? Where are there pockets of people who look like your loyal customers and who don’t have a nearby store? Where are your the mobile phone users who have your most generous data plan and how do they move around their city?
Location Intelligence: Data and Analysis Tools for Understanding the “Where”
Luckily, there’s an entire product segment that specializes in representing data geographically – geographic information systems. While in the past companies mostly used GIS software to represent data on maps, in the last several years savvy managers have been using products such as Pitney Bowes’ Mapinfo Pro and Spectrum Spatial to answer critical business questions.
Each business vertical will find different value when they apply location intelligence to their business. For some businesses, location intelligence can help with siting decisions – applying information such as demographic information about a particular area, traffic flows and more..[WHAT MORE…] that will inform management on the best locations to invest in. For telecommunication and mobile software companies, knowing where people are, how they move about and how they engage with the companies products and services at various locations can yield valuable insights.
An In-Depth Look at how Telecom and Mobile Software Use Location
- Identify coverage areas.
For wireless services, it’s valuable to spot where coverage is strong, where it’s weak and where you should invest in beefing up coverage because. This goes beyond identifying signal strength issues – true location intelligence will show where customer growth is happening and what kind of customers are being gained so you can invest in high value customer areas first.
- Discover Customer Migration and Movement Patterns.
Unlike traditional wireline customers, wireless customers are by nature mobile. Location intelligence can help you spot how customers move around their region – where they cluster, where they use data and more.
- Segment Customers For Improved Service
Not all customers are the same. Location intelligence can enable you to map customer segments (prepay, high data limit, others) to a location, and then segment those customers by demographics and other key factors you want to know.
- Discover How Mobile Users Use Mobile
Where are people when they use mobile software? Do they make restaurant reservations when at home or on the road? Check in on Facebook or Foursquare locally or only on the road? Knowing where people are when they perform tasks can yield insights into what offers might be of interest to them. Correlating this information with their home location and most visited locations can help identify high value customers.
Location Intelligence for Retail Application
- Retail Expansion: Adding services and products where people want them
Where are the people who look like your current customers? Are they moving into an area or away from it? Is the traffic already congested in the neighborhood where you want to site a new store? Location intelligence can help you answer these questions and more.
- Supply chain: People and products when and where they’re needed.
Know where your suppliers are, real-time travel conditions from their location to yours and more. Combine this with inventory and purchasing systems to ensure that products are in your store for sale, but not stacking up in backroom inventory.
- Refine your product mix.
Having the right mix of products in each store can optimize revenue across the chain. Combine inventory and sales systems with intelligence about where your competitor’s outlets are and typical travel times to those can help inform product choices on a per store basis.
SGSI can help…
At SGSI, we’ve been helping customers think about how to get actionable business insights from location information for over 20 years. Our success is built on long term customer value, not quick sales. Get in touch to find out how we can help your business grow by deploying location intelligence solutions.