Locational Intelligence has taken the industry by storm and disrupted the traditional methods of data analysis. Geospatial analytics utilizes the locational component within your CRM records to unlock powerful visualizations and data insights.
Locational intelligence has a wide reach and multiple purposes -while some use it as a feature-specific sales tool, others use it as an analytical powerhouse. With millions of data points visualized and analyzed, organizations can create a more accurate forecast of their markets as well as take information-fueled business decisions.
Here are some key points discussing the current situation of locational intelligence where the technology is, how is the market adoption and what does this means for your company.
The rise of 360-degree Business Intelligence Systems
Integration is the future. As we advance our technology advances, smarter and more complex systems are starting to upgrade their intelligence to a point where they can seamlessly connect to each other. This is where GIS systems are taking a backseat since complex geographic solutions are increasingly getting integration-ready at lesser cost and native-ready connections.
Comprehensive solutions like CRMs are continuously expanding and becoming a true one-stop solution. A unified location intelligence interface that can solve complex problems, displaying maps at interactive speed, using advanced graphs and heat maps for analysis, and more, brought under one roof with the rest of an organization’s data and leveraged at scale to drive the next wave of differentiated offerings.
Application of Location Intelligence in apps define their differentiation in markets
Many applications that are an enormous hit in the market like Airbnb, Opendoor, etc. are using locational intelligence as a key component in their application logic to offer highly relevant and useful information within their business solution. For example, Airbnb uses locational data like neighborhood house prices, connectivity to transport, nearby facilities, and other data points to intelligently give an estimated price to their host for their apartment. This serves as a huge time-saving bonus and breaks the tedious calculation a host would have to do otherwise.
This instance is a small part of a broader business approach, businesses are increasingly implementing locational intelligence with data in real-time to solve current customer problems. This serves as a unique selling point and the differentiator for many in the competitive tech space.
A constant and increasing growth in industry adoption
A huge portion of enterprises in the current market, about 53%, state that Location Intelligence is either very important or even critically important to their business and their goals. Industries use location data in a variety of ways and incorporate maps and location into business analyses for critical decisions. These decisions alter the course of the company’s future and subsequently impact everyone in its radius. Critical decisions like mergers, product pricing, market penetration timing, customer targeting for product launches, etc. are made using locational data as one of the key factors.
Summarizing: what does this mean for your business?
With a surge in demand, there is also a surge in supply. With an optimistically escalating industry adoption and ever-advancing location intelligence solutions hitting the market, the market has set its path on making geo-data as a standard dimension for analysis and location intelligence as a must-have edge.
One such advanced tool on the market today that had this insight and caught the early wave of location intelligence is Maplytics. It is transforming the way business is done and writing the future of sales, service, and marketing within Dynamics 365 CRM / Power Apps.
We have empowered organizations to conquer their business challenges and added mileage to their competitive advantage. That’s why we have had the honor of being a Preferred Solution on Microsoft AppSource, as well as being celebrated by the business community.
With all said and done, where do you stand in this conversation? What do you think the future holds for locational intelligence? Let us know your thoughts in the comments below!!