How to Use Location-Based Analytics for Decision Making
Many BI firms use location-based analytics tools to target users based on their location data. Why? Because they want to be one step ahead of the game and know where they can create a stir. Many of these decisions are influenced by the economic climate, consumer spending habits, and other demographic factors.
Marketers rely on Geographic Information Systems, or GIS, to determine whether data is magnified enough for quick business decisions. Indoor navigation technology allows data collection by tracking user paths and actions along with the map.
The GIS is useful for connecting business information to localized maps. And the method is quite intriguing. So much so that businesses are becoming correlated with local events, revealing patterns in transactions and activities that would otherwise be invisible without location-based analytics software.
Use Cases of Location-Based Analytics
In the real world, location-based analytics has a variety of applications. They can help to streamline chaotic supply chains and reduce response time to emergencies. Let's look at two top use cases where location data can help you make quick decisions.
Emergency Medical Services (EMS)
EMS uses location-based analytics to detect emerging trends. It assists in tracking data such as peak times for duty calls and areas where these calls originate.
How Does Location-Based Analytics Serve?
The extensive analytics data demonstrate vulnerabilities and suggests how to optimize the high-stakes emergency response to these trends. As a result, EMTs can be stationed at critical locations to shorten response times.
Fleet Management Company
It's not just in high-stakes situations that location-based analytics have shown promising results; it's also effective in areas with fewer duty calls.
For example, customer churn caused by missed appointments can be reversed using location-based analytics.
How Does Location-Based Analytics Serve?
When combined with the operator's fleet management software, the system provides a real-time location for decision making. When insights are available, optimizing routes, scheduling, and navigating paths can all be done seamlessly to improve customer satisfaction.
The focus is on location data, which helps track field operators and assets in terms of dwell time and service time. The location-based analytics software also tracks assets as they enter and exit the geofence, sending controllers proximity alerts and estimated time to service.
The 3 Ultimate Goals of Using Location-Based Analytics
It is not the same as using any other analytics engine when using Mapsted's location-based analytics. It's an entirely new yardstick with sophistication that no other tool can match. It has ranged in three key areas –
360-Degree View of the Data
The analytics engine relies on several layers of data below the surface to provide a comprehensive view. In other words, your decisions should not be based solely on visible data, but also on geographic insights and demographics. To top it all off, the data is enriched to add new complex layers to maps, rounding out the picture.
More Visual Mapping
The old method of visualizing data as dots on a map. However, Mapsted's map is more interactive in terms of displaying data. It uses clustering, color coding, and heat maps to paint a clearer picture.
A Deep-Dive Analysis Made Easier
Mapping data is the simplest way to display information that cannot be displayed using traditional charts and tables. Detailed mapping is friendlier to spatial queries and reflects real data as you dive deeper into analytics. Using hotspot analysis and spatial modeling, each 'Why' will be answered satisfactorily.
