The ease of accessibility of data over the internet and the incredibly simple user interface of the Smartphones have made them an integral part of our daily lives — these devices relay usage information to the service providers for market research. Location information is one kind of data that is continuously shared by a phone user with Google if they access Google maps on their device. It may be disturbing for users that someone knows where they have been at any given time. But the access to location information has inspired many companies to use the data effectively. So here are a few positive ways that Location Intelligence impacts our daily lives.
If you have used social media, you’d have noticed advertisements in your feed, particular to the location you have visited. Let’s say you’re visiting a restaurant and you share the site on social media. You’re very likely to see ads for businesses near the restaurant pop up on your phone.
Online Payment Services
Google launched Google Pay two years earlier. Even if you are not a tech guy, you are probably aware that Google Pay requires location access to make payments. Making financial transactions secure is necessary to implement such measures. Google tracks your location while you are making payments and matches them with your earlier known sites to make sure your purchase is genuine. If not, the transaction will not be processed. Even credit card company relies on location information to authenticate proper online transactions.
Cab Hailing Services
Companies like Uber and Lyft track user location to provide better services to their customers. Ride-hailing and sharing services rely on map data acquired by the users or cars that drive around with sensors mapping the local area. These services need to correctly predict the ETA for the car to arrive at user location and the total time it will take for the journey. It is the customers using the service that feed the proper data.
Manufacturers need to create products that are compelling to the buyers. Advertisements can make a product desirable to consumers or drive the product out of the market. Location plays a vital role in feeding the right people, the right commodity. Location-based ads allow manufacturers to cater to the needs of the customer with focused advertising. Location-based advertising enhances the selling process by targeting the right segment of consumers based on their location.