Location Intelligence Definition
Location Intelligence is the information and insights derived from geospatial data (geodata), visually mapped by layering data spatially and/or chronologically. Location intelligence is commonly associated with business intelligence, but has become widely applicable across many different industries and segments to solve a variety of problems, including within the public sector.
What Is Location Intelligence?
Location intelligence involves the people and technology used to visualize spatial data identifying trends and relationships that result in actionable information. Location intelligence builds on geographical information system (GIS) tools to provide data-driven insights that span a myriad use cases. The first recorded example of location intelligence is attributed to the success of John Snow in London, 1854, when an outbreak of cholera was tracked and diminished by mapping of the area of cases overlapped by a map of specific water pumps.
What Does Location Intelligence Do?
Location intelligence allows business and government analysts to optimize their strategic position by leveraging location data created from consumer behaviors, environmental factors, Internet of Things (IoT) data sources, and GPS systems. Spatial analytics help the public and private sector to detect patterns and trends that relate to specific business needs, making strategic decisions more effective.
What Are Location Intelligence Tools?
Location intelligence companies offer tools that allow organizations to collect and compile big data, analyze it, filter it, and visualize the results at a very broad or granular level that is mapped to a geographic location. Location intelligence tools are often software-based dashboards that allow LI analysts and decision makers to visualize spatial data in intuitive ways. They uncover trends and business opportunities that traditional analytics tools which lack the “mapping” capabilities miss.
Who Benefits from Location Intelligence?
Location intelligence is used by the following sectors:
Insurance - Spatial data visualization decreases reactive behavior for insurers and allows them to be more proactive in writing accurate policies based on usage data, reserving and allocating capital, and preventing damage from impending natural disasters. This helps insurance data analysts and policyholders mitigate risk for a mutual benefit.
Financial Services - Location intelligence helps banks and financial institutions optimize the placement of their branches and ATMs, as well as more effectively detect fraud, avoid flagging legitimate charges, and promote special offers.
Public Sector - Location intelligence data in the public sector can help police departments optimally allocate resources to impact public safety down to the street or intersection level. Government entities can also combat fraud, waste and abuse using geospatial data to identify inappropriate spending.
Retail - Location data allows retailers to map consumer purchasing behavior patterns in-store to optimally locate certain products, as well as distribute mobile offers based on the shoppers’ location in-store or historic buying behavior. IoT data can also enable seamless inventory management when cross analyzed with other locations or warehouses.
Higher Education - Universities can use location data to optimize their student recruitment process, alumni and donor tracking, and for campus mapping efforts.
Customer Experience - Real time location intelligence enables large venues like stadiums, resorts and airports to enhance customer experience by providing way-finding alerts, quicker product delivery, and effective queue management for in-demand services like restrooms.
What Are the Issues with Using Location Intelligence at Scale?
Location intelligence data provides businesses across a variety of industries and governments with valuable insights. However, the scale of location data available to uncover these insights is rapidly expanding due to the increasing number of location-aware consumer devices, IoT connected devices and telematics data which has exposed that existing tools for analyzing location and GIS big data are falling behind. Visualizing location data at scale is critical for the development of innovative business intelligence using a wide variety of data collecting technology, and organizations that are effectively analyzing geo-enriched data at scale are finding more relevant customers and increasing sales. Find out more about solutions for Spatial Big Data (SBD) and other massive data sets with OmniSci.
How Does OmniSci Utilize Location Intelligence?
OmniSci is at the forefront of location intelligence for big data analytics, combining unprecedented volumes of geospatial and BI data in one interactive experience. With sub-second SQL queries and interactive visualization of massive datasets, OmniSci enables companies to leverage their location based business data to develop powerful, industry-moving insights.