Spatial analytics or geo-analytics helps you uncover location-based insights for your business and gives you a more complete understanding of your data to optimise business decisions.
Location Intelligence helps to optimise business decisions — from determining the best area to open a new store, to improving the supply chain and creating engaging marketing campaigns. Businesses are furthermore integrating location technology on top of their Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) software to manage their customers.
Spatial analytics can enrich the data of almost any business in any industry. Financial institutions, credit providers and insurance companies use location analytics to assess risk and verify claims. Retailers use spatial analytics to know where the best next location is to open, expand, or redesign a store based on data such as area incomes, education levels, and individual buying habits. Spatial analytics also reveals new strategies that are tied to geographic relationships, such as strategic partnerships.
For retail applications, we use demographic and economic information spatial data to identify high potential neighbourhoods to acquire new customers. Spatial data is also used to segment customers to offer the right products and services to the right customer.