Nowadays, Location-Based Services are becoming a big part of everyday lives with nearly half of the global population using the internet today. Location is considered as one of the most prominent features in the online media broadcasting, advertising, and mobile apps industries. Businesses are providing customized services based on consumer’s online behaviors, and this behavior helps to provide more relevant services located around consumers.
Based on predictive models aided by location intelligence, location is used widely by advertisers in targeting relevant ads to consumers. Now, it’s possible for the advertisers to measure the impact of their targeted ads. The business models of location intelligence are playing a significant role in bringing together the new dimension of big data analytics, automation, Internet of Things, machine learning and geospatial industry. The Geospatial industry is the definitive way to drive the money using Location intelligence.
Location intelligence is not just about a map of dots but a full-fledged analytical system. The geographic information systems are specialized to store and manipulate spatial data in various ways.
In the Business Intelligence world, business metrics on maps help in converging location with business intelligence. Similar to other types of visualization, maps work in the same way for bringing useful data of users and identification of the critical trends and issues presented in various dashboards as well as reports. Location intelligence experts are trying to define the business ecosystem that has interconnected economic influences on the economic climate, culture, education, lifestyle, cost of living, labor, crime, and healthcare. Platforms of location intelligence are encapsulating the latest technologies to analyze relevant data sources and use it to power a data-driven product or provide it as data-as-a-service.
Location intelligence works in a far better way as compared to geographic displays because the spatial models of location intelligence connect data on a three-dimensional surface. For example, Business Intelligence users can use maps to analyze demographics of clientele, who are shopping in a store, based on the buying habits. They can get an idea if the buying habits of consumers have changed with the passage of time.
The retailers can analyze in-store customer shopping behavior by using RFID, Wi-Fi, or Bluetooth Low Energy Beacons paired with a mobile loyalty app. It’s a great way of optimizing store inventory or layout of the store. Ordering and management of queues for customer’s services can be improved to a greater extent with location data analysis technique.