Location Intelligence is a business capability which analyzes people, data and technology geographically, to exploit the business market. It is more of a business tool that can tap the geographical surroundings to extract data crucial for business purposes. The tools generate meaningful insights of business processes as visual codes, which will be easy to interpret and arrive at solutions for crucial problems.
Today the world is sinking in the digital revolution, technologies like IoT and smart gadgets are creating ripples across the world with every hour passing. In such a scenario where people are minutely connected with each other and devices, and the world shrinking to the size of a smart phone, location data aided by spatial OLAP tools will be very influential in deciding the success of a business market. Location data engulfing geospatial data can systematically co-relate all these connected devices to divulge certain relationships. And these relationships will dictate trends for business decision makers to analyze and bring order to the very complex data landscape. With more than 80% of all data having a location element, location intelligence will be the game changer among the recurring technologies.
The location intelligence is a budding partner for unnumbered industries like financial services, retail, insurance, logistics, and supply chain planning and transportation network. The geo spatial data has uncovered vague relationships and helped these industries in finding value. Like how a geo- enriched data about location of customers and their transactions, in some way prevents duplicity. A new market before being set up can visualize demographics, financial data, and criminal activity across the map for the best future results.
Nearly 63% of businessmen consider location intelligence to be very important for business operations. And with burgeoning importance of location intelligence in executive management, Research and development, and energy and transportation industry, location intelligence has typically reincarnated as a dominant feature of business intelligence to leverage the opportunities in the market.