A whitepaper by Pitney Bowes reveals that 80% of the data stored by organizations has a location component that is not leveraged for business opportunities. Location intelligence (LI) software offers a demographic and spatial analysis that helps companies analyze customers and optimize resources.
Here’s everything you need to know about location intelligence software.
What is location intelligence software?
Location intelligence software offers a business intelligence solution that helps organizations relate geographical data to business data. It allows location intelligence analysts to find trends on maps to optimize prospective business opportunities. LI software turns data into insight for a wide range of business purposes by using a significant amount of datasets in real-time to help organizations make informed decisions. By leveraging LI tools, they can amalgamate external data like economic growth and demographics with their internal location data.
Which industries use location intelligence software?
Almost all industries can leverage location data using a LI platform. Some of the top industries like BFSI, Insurance, Retail, Pharma, Logistics, Quick Service Restaurants (QSR), among others, use a LI tool to improve their business operations and control costs.
What are the benefits of location intelligence software?
What are the features of the location intelligence software?
1) Spatial analysis
Location intelligence solutions provide spatial data analysis that helps in increasing the productivity and efficiency of the field agents by optimizing travel times for quicker deliveries. It acts as an important factor while selecting a new site for your business expansion as it can determine nearby competitors.
2) Nudge push notifications
3) Visibility dashboard
Location intelligence software can also help companies track their fleets in real-time. It offers a visibility dashboard to track, monitor, and manage their vehicles at all times. Besides managing the fleet on the road, companies can get an end-to-end supply chain visibility on the tracking of shipments.
Why should companies use location intelligence software?
1) Sales productivity
With the right LI platform, sales managers have better access to market data and consumers’ demographics, which can help them increase their sales productivity. It also allows them to target new cities and locations and make an informed decision about their next market based on their customers.
2) Turnaround time (TAT)
3) Leads management
Sales managers can even get new leads if they have adequate data about their customers and where they are not. This helps in working on getting new leads and improving sales and marketing efforts. LI tools offer the right direction with the necessary data to start and manage a successful campaign.
Dista is an AI-enabled location intelligence platform that offers a wide range of solutions to enhance business processes. Click here to get a free demo.