The future of location intelligence

In recent years, increasing numbers of organisations have learned first-hand about the importance of location intelligence. Over the course of almost a decade, LI has shaped marketing operations to the point where early adopters are now reaping the rewards of increased engagement, greater accuracy in targeting, and digital marketing consistency.

It’s clear that location intelligence is now critically important when it comes to achieving marketing goals in 2020. As LI continues to evolve, let’s focus on the future of location intelligence and how it will help companies to:

• Verify and understand data with accuracy, meaning and consistency.
• Use location data to create actionable business insights with positive outcomes.
• Enrich decision-makers with real-time location, business and consumer data.
• Create personalised, cross-channel communication across all mediums, at all times.

Mapping out the future of your business

At first, location intelligence was primarily used by research and development departments, executive management and operations teams to help identify prime real estate locations for retail. However, things are changing, and it’s high-time other departments started harnessing the power of location intelligence, too.

Companies which have yet to consider the future of location intelligence risk being left behind when it comes to marketing, customer service and sales intelligence. The insights that product managers can gain from LI helps to improve the contextual accuracy of each of these areas – and indeed, almost every area of operations.

For example, as LI becomes more commonplace, marketers need to take the time to understand how they can capitalise on the prolific amounts of location data available to them. This data can be used to improve advertising, purchasing and service experiences for customers.

The future of analysis

The emergence of the Internet of Things (IoT) and a growth in demand for visualisation has led to an increase in location intelligence for business analysis purposes. Ultimately, LI can be used to help decision makers accurately visualise everything from prospective demographic locations, competitor location impact on sales and how far individuals are willing to travel to purchase a product.

In 2020, over 70% of organisations considered data visualisation and mapping as either critical or extremely important when it came to accomplishing goals. Visualisation has the potential to help companies to streamline essential marketing, site planning, territory management, logistics optimisation and sales.

LI is maturing

The future of location intelligence is that it is a truly indispensable part of any modern business – from retail to healthcare, the operational applications are almost limitless. As location intelligence reaches a point of maturation, we’re going to continue to see ways to master its use to predict trends, warn against marketplace volatility, detect outliers and highlight potential cash clusters.

With this maturation comes scope for greater collaboration. Ultimately, multiple departments across single enterprises can work together using location intelligence to achieve a shared goal of marketplace success.

Find out more

If you’d like to find out how Periscope® could help transform your business operations, why not book a 10-minute demonstration? We’ll show you how location data viewed on your own secure, corporate version of Google Maps can help you make more informed decisions and gain a strategic edge over your competitors.

The future of location intelligence is already here – and those who adopt sooner rather than later stand to benefit the most.