Why Geospatially Enabling Your Big Data is Good for Business
By Joe Francica
With the accelerating growth of mobile technology, the access to information for consumers – and businesses – has become virtually limitless. Statistics show that 80 percent of Internet users have a smartphone and 89 percent of mobile users’ time spent on media is through mobile apps.
As mobile app use has skyrocketed, the importance of capturing data from those devices has grown – and the door to new opportunities for businesses have opened. Location technology in particular has become key to streamlining the customer experience but also in capturing valuable feedback that businesses can use to provide better products and services. In fact, there are myriad mobile applications – like Uber and Lyft, for example – that rely on location-based information as the foundation that enables their company to compete against more established competitors. Taking these data and analysing them quickly to discern true location intelligence is providing a unique competitive advantage.
Whether checking in on Facebook with friends, or stopping in at a restaurant for dinner, consumers are generating valuable data about their habits and preferences. Imagine a caffeine-hungry commuter walks into his local coffee shop to pick up his usual morning jolt. The minute he steps through that door, the coffee shop app recognises his location, tabulates his past buying preferences and is ready to serve his regular soy latte.
All data that’s being captured around that transaction or experience is helping companies to better understand how products are sold, how to better merchandise stores and how to provide a better overall customer engagement experience.
For businesses, location intelligence is integral to uncovering insights from both customer information and other data warehouses, and then creating actions from those insights. A business can discern not just what people are buying but “why” and “where,” like our friend at the coffee shop who likes his soy latte. Those insights can inform and ultimately improve how they engage with their customers.
It’s exactly what Pitney Bowes’ best-in-class Spectrum Spatial software and our global portfolio of geospatial data products provide. Companies across all industries, including oil and gas, consumer goods, insurance and telecommunications, can use Spectrum Spatial for real-time location intelligence to better understand their data and greatly improve their business analytics.