Three use cases where location intelligence is crucial for decision-making
In today's technology-driven world, the seamless integration of tech into various facets of our lives resulted in an abundance of data accessible to businesses. With a forward-looking mindset, organizations recognize the potential of deciphering the “data treasure” which allows them to strategically allocate resources and keep their competitive advantage within the ever-changing marketplace.
Real-time location intelligence revolutionizes the way we extract valuable insights and knowledge from geographic or location-based data. By integrating geographic information systems (GIS) technology, cutting-edge data analysis tools, and powerful business intelligence software, we unlock the potential to convert raw location data into implementable findings. These insights empower decision-makers to shape the future of their organizations.
Three use cases where location intelligence is crucial
Insurance and reinsurance companies
The insurance industry is increasingly relying on geospatial data to assess risk and make informed decisions. Through GIS technology, insurers and reinsurers can better understand risk exposure, accurately assess potential losses, and optimize their portfolio management strategies. Quarticle has been providing tailored solutions and services to one of the largest insurance companies in Europe. Reach out at [email protected] if you’re in the field and let’s have a chat.
Logistics, transportation, and delivery companies
Imagine a scenario involving a logistics company aiming to streamline its delivery routes. GIS software can analyze geographical data, traffic conditions, road closures, and real-time information to suggest the most efficient routes for deliveries. This minimizes travel time and fuel consumption, reducing operational costs. In addition, GIS can help optimize sales and delivery areas. By considering factors like customer density and location, businesses can ensure that each area is balanced and manageable for their delivery teams.
Banking and financial services
The banking industry is experiencing a remarkable transformation with the integration of location-based and geospatial services. Through a GIS platform, banks gain the ability to visualize the geographical distribution of their clients, pinpoint ATM locations, and analyze purchasing patterns, spending habits, and demographic information. Moreover, it empowers sales and marketing teams to strategically target specific segments of the customer base with personalized offerings, and maximize customer engagement and satisfaction.
Among many digital technologies, GIS technology stands out for its distinctive ability to intertwine data with location. This unique feature ushers in a wave of digital transformation across diverse sectors, offering a multitude of applications for businesses. GIS enables organizations to gain deeper insights into spatial patterns and relationships and get an overall better understanding of their operational landscape.
Article inspired by Brian Civin.
Deep-dive into the fundamentals of GIS, where and how it’s used, as well as 5 reasons any company should consider GIS today by reading our blog post on Demystifying GIS: Unlocking the Power of Location .