Location Intelligence: Transforming business processes and creating opportunities
Location intelligence describes the capacity of an organization to use the principles of location to organize, reason, plan and problem solve. Location intelligence is not defined by the mere presence of location-enabled technology, but moreover by the degree information is enriched by the perspective of location and the successful integration of this information into a process of decision making.
Specifically, location intelligence is the capability to organize and understand complex phenomena through the use of geographic relationships inherent in all information. Applied in a business context, the outcomes are meaningful, actionable and can provide a sustainable competitive advantage. Building location intelligence successfully requires business specific domain knowledge, formal frameworks, and a relentless focus on desired business outcomes.
Location Intelligence is about transforming business processes and creating opportunities.
Dimensions of Location Intelligence applications are generally industry-specific. However, within that framework, uses of location intelligence can be sub-sorted into three sub-categories:
Enterprise Decision Support:
Enterprise applications, often vertically focused, that illuminate optimal business strategy. For example, a telecom company consolidating newly acquired customers can identify common customers and determine how to offer services to achieve the greatest value. An insurance company can link geography dependent risk elements such as proximity to a flood zone or density of coverage in specific neighborhoods to better contain costs, and mitigate or more accurately price for risk.
Applications that facilitate customer service and self-service to improve the overall customer experience.For example, a government agency can more efficiently measure service levels or plan for the distribution of services that are in many cases dependent on variables that change over space, such as household income or number of children. Governments may also be able to better protect constituents by applying location intelligence to existing workflows so as to enhance fraud detection or threat detection capabilities.
Enterprise applications that build loyalty among customers and influence purchasing behaviors. For example, retailers can execute store-specific promotions with more accuracy, and profile and target their markets, resulting in the identification of higher value customers. Or retailers may use location intelligence to augment loyalty program services via internet channels, as in neighbourhood smart store offerings.
To learn more contact us today.