Marketing Solutions Using Geospatial Data
On a daily basis, we collect, organize, and analyze a vast amount of data, much of related to the study of demographics, for improved marketing analytics services. Geospatial data lets us create a picture of what people do and where they go so that we can better meet the needs of particular communities or organizations. The networks of cell towers, satellites, GPS software, and location intelligence software provide a wealth of information that benefits demographic reporting and marketing analytics.
The Internet of Things, which simply means any devices other than computers that can send and receive data via the internet, is increasing steadily. Although the term has been in use for over a decade, it has recently gained more common use. With it comes the increase in data provided by the IoT, and with greater information comes greater opportunities to improve services. Part of that data is location information. With a device such as a heart monitor or vehicle safety alert, one can see how that data could become important. In fact, a recent business survey conducted by Dresner Advisory Services in 2014 found that over half of the respondents, across all industries, expressed that location intelligence is critically or very important to their business planning.? Another study showed that in 2011, over 12 million RFID tags (used to capture data and track movement of objects in the physical world) were sold, and it?s estimated this number will skyrocket to 209 billion by 2021.
There are many useful applications for geospatial data analysis, not least among them, marketing analytics services. Besides the ways in which this information helps us to reduce costs and waste, keep up with stock, manage repairs, and increase productivity, it also helps us better manage the market, and in fact to increase the market. One of the biggest benefits of location data is that it allows us to increase the immediate selling area and tap into unreached sectors. For example, by knowing what the consumer prime time is, through information gathered via location intelligence software, it?s possible to focus marketing strategies on certain times of day in certain areas. Location awareness is essential in terms of gaining new insights regarding target populations in real time.
Another benefit and trend of geospatial data is personalized experiences for customers; if you know where your customers are, you can guide them to what they need. Marketing analytics services provide ideas for how to apply this data. In a retail setting, this might be as simple as using a mobile app to direct in-store customers to the sizes, styles, and prices they prefer, based on information they enter. Imagine this same principle applied to other businesses, and you?ll see the range of possibilities offered.
Overall, GIS and geospatial data are becoming increasingly prevalent for demographics study and marketing analytics services. New applications are developed rapidly as possibilities and trends take shape.