The Importance Of Data Sharing Capabilities For Location Intelligence

The importance of data sharing capabilities for location intelligence(LI) is becoming more clear in 2021, as LI offers a veritable goldmine of information about existing and prospective customer bases. Whilst it was at one time an asset of large corporations, it should now form a significant part of any organisation’s progression strategy.

While many businesses now collect customer location information, issues can arise when this data is compartmentalised. Data discrepancies or out-of-date statistics held by one department could be holding others back. From a location intelligence perspective, organisations are only as adept as the data that each department holds and can access.

The solution? A single location intelligence data-sharing platform that can be accessed and updated by all – ensuring that everybody is reading from the same page, for everything from marketing to location scouting. With Periscope®, you can expect real-time, up-to-date shared location data at your fingertipscomplete with Google Maps overlays and metrics relevant to every department within your organisation.

In this article, we’ll discuss why data sharing capabilities for location intelligence are so important.

Why Data-Minded Decisions Are Crucial To Success

The beauty of shared location intelligence is its ability to help your organisation unleash all manner of insights when this data is compared and contrasted with other data sets. For example, when pairing LI with your social media listening, you can track customer sentiment about your brand on an area-by-area basis.

You should also be able to see how tangible an impact online discussion about your business has in a real-world setting. This can be measured in terms of the level of custom and footfall based on positive or negative comments in the social sphere. This is just one example of how data sharing capabilities for location intelligence can help you to identify where you’re doing well, and where you need to improve.

How Shared LI Data Facilitates Expansive Omnichannel Marketing

Omnichannel marketing is the process of using every single point of contact available to get your brand message across. This means using the web, social media, online chatbots, customer service agents in brick-and-mortar settings, direct mail marketing, and everything in between. With data sharing capabilities via a single platform like Periscope®, it’s never been easier to enhance the customer experience via these channels.

Geospatial data, in particular, can play a significant role here. For example, let’s imagine a scenario in which a business owner runs a chain of coffee shops within a city. Shared location intelligence could allow this organisation’s marketing team to send push notifications to encourage customers to place online orders to avoid queues during peak times. This allows the brand to effectively market to their customer base, while providing customers with valuable insights that could help save them time.

One Data Set, Many Uses

While we often think of location intelligence as a marketing tool, it’s important to remember that the same data can be valuable in other areas of business, such as the assessment of a location’s value for a new store or venture.

By carefully calculating existing consumer data and comparing it with similar demographics by postcode, brands can pinpoint the perfect locations for expansion. Periscope® facilitates this effortlessly, using the same LI data your marketing or consumer insight teams can also make use of.

To find out more about the advantages of data sharing capabilities for location intelligence, request your free 10-minute Periscope demonstration or talk to our team.