Companies today have numerous tools to build a better view and understanding of customer behavior: third party research and datasets, online analytics, loyalty cards and online activity logs.
Yet despite receiving enormous amounts of information from their customers about their preferences, challenges and satisfaction levels, most brands are failing to understand the context of their data, location intelligence can change this.
“Moving forward, analytic and information leaders must put the “where” question to all new BI and analytic projects”. – Gartner
By exploiting the location element in data and different data visualisation outputs, location intelligence empowers retailers to better understand every step of the purchase funnels. When brands understand the where component of the data they can start to see what is influencing their customers to do what they do.
This is because as a strategy it allows for more complex segmentation, efficient territory management, competitor mapping, location planning and much more.
Location intelligence enables the meshing of both offline and online customer information data. Merging the two sets of data gets companies closer to the much researched and talked about: ‘single customer view’. Ultimately, reaching a single customer view increases customer loyalty, relevant marketing communications, effective product development and secures healthy long term organisational development.
Location Intelligence really is the game changer that you cannot afford to ignore.