Location Analytics: A Robust Tool In Digital Innovation

Introduction

Nowadays location analytics is an important analytical tool used by tech-industries, non-profit organizations, government , financial and educational institutions. Location information plays essential role from planning to operation phase. It helps in deeper understanding of the area or location associated with particular business. It emphasizes on fast decision making enhancing the business strategy.

There are certain advantages of using location analytical tools:

 Situational awareness
 Supporting tool for making financial decisions
 Predicting future trends and patterns
 Real time tracking and monitoring

Technology

In broader sense geospatial technology is used for location analytics . Traditionally cartographic techniques are used for identifying location. Now geospatial technology can be integrated with other technologies like IT, cloud and big data. Geospatial technology includes Geographical Information System (GIS), remote sensing techniques and photogrammetric techniques which includes Global Positioning System (GPS) and Global Navigation Satellite System (GNSS). GIS helps to edit, manipulate and analyze data with different spatial analyst tools, modelling tools and geoprocessing tools. Remote sensing and photogrammetric techniques helps in capturing and storing data. Data is converted into information with the help of GIS. ArcGIS is the best software analytical tool.

Industry-wise Location Analytics Applications

Location analytics has its application in different industry verticals:

 Banking industry- It helps in knowing types of customers .With the basic information of the customers bank can predict their investment patterns in the future. It helps in the planning phase of marketing and selling campaign, real time tracking of ATM and managing assets of bank.

 Real estate industry- In this industry land information plays vital role. So to understand the land, location information is essential. It helps in cost management, customer satisfaction and gaining knowledge about the competitors.

 Health industry- It focuses on identifying the health trends in particular area, improving the services and amenities of the location and mitigating risk in the future. It analyses the social , environmental and cultural factors responsible for spread of diseases.

 Utility industry- It emphasizes in facility management, knowing the consumer approach, analyzing the network, understanding the service area, workflow management and change detection analysis.

 National Security- It helps in gathering prior knowledge about the enemy position, real time tracking and monitoring for further operations in the area and deep geographical understanding of the attack area.

 Transport industry- It helps in planning , construction, maintenance and operational phase of the transport industry. It also assist in real time tracking and monitoring of the vehicle carrying passengers and commodities and asset mapping.

 Tourism Industry- It helps in spatial insight of the location, analyzing the environmental factors that can boost tourism industry, faster mobility ,situational awareness in case of natural or man-made hazards, information about hotels and transport facility. It provides one stop solution.

 Social Media industry- It helps in identifying target market, promoting the advertisement, pattern of usability of particular social media and strategic planning in the future.

Conclusion

Location Analytics is mainly geo-enabled data. It can be used in digital format, mobile application and printed paper maps. It can be integrated with more advanced technology to gather more efficient and smart information. It is a spatial communication and visualization tool. Google, Esri are the global leaders in this sector. Private geospatial organizations are also using this analytical tool for enhancing their business strategies.

References

Techopedia Publication
2015, TM Smart Map Publication Thought Leader, 2015, Insightful coverage of healthcare technology
Madhavi Pore, GIS Applications in Utility Sector, 2015

By Sampriti Banerjee

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