Do you run an organisation that collects a lot of data? Want to find out who your customers are, how often they buy, where they come from. and what do they buy? Looking for better ways to manage your products, stock levels, and relationships with suppliers? The list is almost limitless but data on its own is worthless. What do you do with data? How can you gain new insights and discover previously hidden opportunities? This is where Location Intelligence (LI) comes into the picture.
What is Location Intelligence (LI)?
Location Intelligence (LI) combines location-based data with traditional metrics that are captured within a Business Intelligence (BI) system.
One of the biggest advantages of location intelligence is that it helps businesses solve problems by offering context to business data. It can also be leveraged by organisations to see, understand, and act on new business opportunities by uncovering previously unknown or unexplored data patterns, or crucial relationships between different data types and sources.
Top location intelligence use cases
Supply chain optimisation
Field service management
Field sales management
IoT and smart cities
Fleet routing and tracking
Data visualisation and mapping
Food delivery services
First- and last-mile delivery management
Stock flow management
Which industries can use location intelligence?
Nearly every business collects and stores location data. Industries such as Restaurants, Pharma, Education, Public sector, Hospitality, Retail, BFSI, Insurance, Logistics and Transport, and others can leverage location intelligence to gain a competitive advantage and make smarter, more informed, and strategic business decisions.
Your organisation can leverage location intelligence to:
Identify marketplace opportunities, gaps, threats, and levels of market saturation or penetration.
Uncover relationships between products, stores, and customer types that impact sales performance.
Assess customer purchase habits, residency, and frequency to help formulate new marketing campaigns to boost store sales and traffic.
Develop and nurture highly effective and personalised relationships by segmenting customers in a multi-dimensional way via demography, location, or purchase history.
Maximise market share and individual store performance
Assess the sales of particular items by region or store to determine effective and efficient sales campaigns
Track stock levels of individual retail operators
Coordinate warehouse deliveries to ensure individual shop fronts are always well-stocked
Identify site locations for new warehouses or outlets based on the geographic spread of your most profitable customers, the proximity of competing stores, etc.
Detect and categorise underperforming stores to assess their ongoing ability to raise profits, viability, and develop strategies for rectifying the situation
Want to explore fresh insights and new relationships within and between your most important information – your operations, CRM, sales, marketing, HR, finance, and procurement data? Call us at C.I.G Consultants now to find out how your organisation can merge location-based and traditional BI information to offer rich context to your business data while helping you explore new business opportunities.