The growing demand for Location Intelligence
Location intelligence market is growing at a fast speed- from autonomous cars to various business organizations; location data connects people, surroundings and services. Read More:
The growing demand for Location Intelligence
Location Intelligence is an asset management tool that uses location data to achieve business outcomes. It uses data sources like GIS, aerial maps, demographic Information and an organization's databases. Now, location data and location intelligence is being used from financial planning to construction. Use of mobile devices and sensors provide a view of how devices move in the real world.
In this digital world, IoT has linked billions of devices, providing a decent amount of business data to executives. "The most competitive organizations understand that Location data provides unique insights, revealing hidden patterns and relationships that drive stronger decision-making"- ESRI.
Is this another form of GIS?
No, both are distinct concepts. GIS is a combination of hardware and software that allows capturing, storing, manipulating, analyzing spatial data. Whereas, location intelligence is an ability to acquire and apply knowledge and skills. Location intelligence is powered by GIS to solve real-world problems and transform business and organizations.
Location intelligence and business intelligence allows the staff to analyze the Information in intuitive maps or apps. This integration speeds up the information flow and makes a better supply chain.
A combination of multiple datasets with physical locations provides a rich model, and the stakeholders can view and understand a large amount of data. In business, Maps and location together reveal hidden insights and provide an intuitive platform for big data and digital transformation.
"We're at the table now, and we're reminding the various departments to think about location; think about spatial analysis; and regardless of whether they're business or political questions, don't forget about location intelligence", Lorraine McNerney, OSi's general manager for geospatial systems.
A case study
San Francisco's 100-year-old water and sewer system
In San Francisco, when a noxious odour spread, the San Francisco Public Utilities Commission ( SFPUC), being the guardian of a 1000-mile-long sewer system, needed to respond immediately. Lewis Harrison, the manager, SFPUC's Wastewater collection system division, looked at the digital map. And, instead of responding to individual calls for odour, he checked that the location of the complaint is swiftly posted to a real-time digital city map.
The map was painted in resident complaints. The Coast Guard confirmed the probability that the odour was coming from the San Francisco Bay and most likely from a specific tanker offshore.
"What used to take up to half an hour is now accomplished in about 5 minutes," Harrison says. "Another benefit has been that managers now have access to real-time data that enables them to monitor evolving issues during events".
Location data and Blockchain
Blockchain is a distributed ledger where Information is stored in form of blocks, if each block is duplicated and redistributed to many different locations and are linked together with cryptographic technology, it forms a chain. This network has many points in space; every addition from a validated source is updated to other blocks via a secured process. Therefore, the Information within the blockchain system is inherently secure.
When the location data is secured, financial transactions are made with 100% trust. This also ensures that a particular task is being handled at the right time and place by a trusted person.
E.g., while transporting a large number of cartons with thousands of packages or assets inside, a system which tracks all the packages with accuracy, will ensure that nothing is missing. An expanded blockchain will keep the record of all items at any place and time.
Location Intelligence and indoor positioning/ indoor Mapping
In places like airports, big hospitals, large shopping centres or factories, which have large indoor areas, we find it difficult to reach the desired point. Indoor mapping allows navigation in the interior. Indoors, GPS signals cannot be received sometimes, here, iBeacon, wifi, blue tooth, RFID and lighting provide a platform for wayfinding.
80% of passengers think that navigation is critical and essential when travelling between airports. For marketers, Indoor Mapping can help to track the consumer inside a closed supermarket.
Accuracy and quality of data
For real estate dealers choosing a right corner or city block is essential, the wrong location means millions in lost revenue. "If you are off by an inch, you're off by a mile", says David Birnbrey, chief executive of The Shopping Centre Group ( TSCG). TSCG has 28 mappers on staff with a ratio of 1:4 of mappers to brokers.
Data fuels everything in the digital world. More accurate location data means more understanding of behaviour and movement. Location data comes from sources like IP ( internet protocol) address, GPS, wifi signals, apps and beacon data. Forrester reporting in Verves Funded research demonstrated that 34% of marketers cited inaccurate location data as a key marketing challenge.
A sophisticated location provider synthesizes vast amounts of data from diversified sources, filters fraud signals and makes the interpretation of rest.
Location intelligence market is growing at a fast speed- from autonomous cars to various business organizations; location data connects people, surroundings and services.