Is Your Company Ready for Spatial Analytics?

Spatial Analytics and Business Locations

Despite the evolution of business since the Industrial Revolution, one factor remains constant to every company's success: location. Yes, we do look at location in the 21st century in a different way thanks to the interconnectivity of the internet. Yet as a freelance business data analyst, I can tell you that understanding location as it relates to what you do is critical to your company's long-term viability.

With all of that said, here's a question: is your company ready for spatial analytics? If not, that needs to change. Spatial analytics is the new frontier of analytics in general, and it's going to drive the way businesses use data in the coming months and years.

Shilpi Chakravarty at Geospatial World wrote an excellent post last month discussing this very topic in the run-up to the annual Geospatial World Forum. I'd like to borrow some of his thoughts and expand on them for the remainder of this post. Needless to say that spatial analytics is the latest in a long line of disruptive technologies that are changing business intelligence.

Location Improves Customer Profiles

Customer profiles are a big part of analytics. Businesses of all sizes use customer profiles to better understand how to market, how to meet customer demand, and how to guarantee a positive customer journey from beginning to end. Spatial analytics improves the customer profile by providing additional data gleaned from studying given locations.

For example, creating a detailed map of a specific geographic area opens the door to pinpointing certain kinds of data including average income, standard of living, education levels, general health, and so forth. Data analysts can then use this data to get a good idea of how people in a given area live, work, and play.

A business data analyst can create virtually any kind of location map necessary to better understand customer habits. What's more, those customers can be individual consumers or businesses alike. The data gleaned makes it possible to fine-tune localisation at a level never before possible.

Location Improves App Development

Combining spatial analytics with mobility and app development will yield tremendous results over the next few years. Consider this: businesses are finding it more effective to reach customers on mobile platforms than virtually any other platform available to them. Where there are mobile users, there are customers.

Spatial analytics is perfectly suited to mobile marketing because it takes advantage of individual users working with their mobile devices in limited geographic locations. Through spatial analytics, companies can better understand how, when, and where users access data. They can then target specific groups of users with the right messages at the most effective times.

Spatial analytics is still in its infancy, yet it holds plenty of promise for the near future. As a freelance business data analyst, I would be more than happy to discuss spatial analytics and business intelligence data with your management team, with the goal of helping you better use localised data to your advantage.


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Author: Chris Scanlon

Hullo.  I'm a graduate chartered accountant with 25 years experience in blue chip businesses and the last 15 years in owner manged businesses.  My particular skill is turning data into information. Bringing the performance management of the business alive so that ...