There are many ways location intelligence benefits your organization – we discuss two very powerful ways here:
location and store location.
Customer LocationYou probably have a list of your customers and clients complete with mailing addresses, and in a general sense, you “know where they are.” But do you know where your customers are really located? Unless you’ve viewed the location of your customer in a map context, chances are you may be missing out on a lot that this location pattern has to offer.
Once your customers are plotted in a mapping application, immediately, a seemingly infinite number of options arise. One may then compare these locations to many other types of data to reveal meaningful trends and patterns. For example, customer locations are compared to census data to associate estimated average household income, demographics, and population density to help develop a customer profile. This profile can then help maximize and better focus marketing efforts. This reduces costs by eliminating wasted dollars marketing to people who don’t fit a preferred customer profile.
Many other useful applications can stem from applying customer locations, including using locations and the patterns they reveal to predict new areas to search for additional customers.
Store LocationThe relative success of similar store locations may be due to many factors such as varying customer service, but often the spatial component is a significant contributor.
Identifying the spatial aspects of an area that contribute to the greater success of a particular store’s location has great value. This value is further maximized when that information is applied to help locate new sites for new stores (click here for more). For example, a specific store type might require highway frontage, large parking areas, proximity to certain business types and specific demographics.
Location intelligence applications such as these are easily implemented with geographic information systems. AGI can guide your efforts to maximize value and extract trends from your customer and store databases through application of a powerful GIS. Contact us today for a free evaluation.