Business Intelligence is used today for making well-informed decisions based on large quantities of data. Traditional BI is a good tool for providing companies with insight into their data via tables and graphs. However, the geographic visualisation in traditional BI does not always put location information in clear focus so the resultant map visualisation does not contribute optimally to data-driven decisions.
With Location Intelligence, location information is firmly in focus for map visualisation. The spatial perspective allows data-driven decisions to be taken at a much deeper level. Customers, suppliers and distribution channels are examples where location information can create new insights. By utilising this information in your analyses you will be able to devise:
Location intelligence is so much more than just visualising your data on a map
For instance, categorising sales figures according to geographic areas such as counties, postal codes or other public
geographic classifications may provide relatively little information since these geographic classifications were not created to describe your specific data. They were created for other administrative reasons.
Instead, we want to categorise your sales figures according to dynamic areas that are impacted by active purchasing and movement patterns in your sales performance. In other words, we want your data to create geographic areas that best describe your specific operation.
Today we often use map visualisation that does not necessarily provide any business benefit. Even though it may be intuitive to use map visualisation to obtain a fresh perspective on your operation, Location Intelligence is so much more than just that. With the help of Geographic Information Systems (GIS) it is possible to elevate geographic analysis to the next level. GIS is an effective tool for providing insight into spatial data.
With the help of Location Intelligence you can easily identify the sites or areas that meet all or some of your needs.
“Companies can divide their data into thematic geographic tiers and analyse it with the help of different variables – thematic geographic tiers may be anything from income levels and purchasing behaviour to traffic flow patterns and population density. This means for instance that marketing strategies can be individually tailored for different customer categories. It will be possible to direct specific actions at customers living in areas close to competitors’ stores, to carry out cluster analyses and set up accurate sales targets for each customer segment. In short, Location Intelligence can elevate your data-driven decisions to an entirely new level.” – Ulf Magnusson, Senior Management Consultant & Retail Expert at Advectas
Customers in focus
Expand your customer profiling by asking questions about who your current and potential customers are and where they are to be found. Also ask yourself where your operation provides best profitability. Understand your customers’ purchasing and behavioural patterns and identify regional and local differences. Is your presence optimal based on the spatial patterns that can be identified?
By creating geographic customer profiles you can gain new insights in your decision-making. Expand these insights with information that your operation does not itself gather. Supplement your own data with external data to get the most out of your customer profiles. What are the main characteristics of the locations where your customers live? In the retail sector, for instance, it is of interest to identify your presence, your competitors’ presence, and possible distribution paths, while in the insurance sector it may be of interest to identify geographic risk factors when assessing the premium for a home insurance policy.
With the help of Location Intelligence you can find new, unexploited areas that match your target groups. Improve your customer presence by using Location Intelligence as a support tool for analysing new sites for potential operation. And why not sharpen your direct marketing activities so that you truly do reach your intended target group? Location Intelligence can provide unique insight into your customers’ purchasing patterns at local, regional and national level. Your customers can be segmented geographically and their behavioural patterns can be visualised on a map.
Location Intelligence is all about identifying patterns that may not otherwise be visualised. Whether it’s about studying trends, modelling predictive scenarios, optimising transport routes, analysing potential sites for new stores, conducting risk analyses or monitoring real-time data, Location Intelligence offers in-depth analyses that elevate your data-driven decisions to the next level.
If you would like to find out more about how Location Intelligence can contribute to data-driven decision-making and optimise your particular operation, please get in touch with us!
Application Consultant at Capgemini. I have an interdisciplinary background with a Master’s degree in epidemiology and a Master’s degree in Environmental Science. Owing to my previous experience in work with environmental data, epidemiological data, population data and telecom data I have acquired a broad-based understanding of what information is and how to correctly handle information from different disciplines.
Data Scientist and Data Engineer at Advectas. I am a mathematician by training, specialising in probability theory and stochastic processes. My focus at Advectas is ML Ops (Machine Learning Operations), that is to say systemisation of the development and productionisation of Machine Learning and AI models. In my free time I read a lot and when it comes to entertainment I feel that “A good series is a series consisting of many books”.
Senior Management Consultant. Ulf has worked on the implementation of various analytical solutions for more than 25 years, commanding broad-based experience in many operational sectors. Today he helps Advectas customers take better decisions through data-driven insights. Ulf was previously president of several companies and has considerable experience as a business executive. Owing to his experience Ulf knows how best to transform analytical solutions into strategic and operational decisions. He is very skilled at providing tailored advice on operational development, control, and management of different types of organisations.