In today’s industry, businesses require a lot of data. As a result, many companies use marketing analytics tools and services. These services allow companies to make decisions regarding their marketing and advertising campaign strategies.
For instance, some intelligence tools allow businesses to analyze what customers buy. They can then make recommendations based on previous purchases. You have no doubt seen, while shopping online, suggestions made based on what you have previously purchased, or even simply looked at in your browser.
Another example of a business intelligence tool is location intelligence services. Now, you may be wondering, what is location intelligence? This type of geospatial analysis is yet another form of business intelligence that assists companies with the capability of determining where their demographic is mainly located. With these tools, and the fact that there are always at least 24 active GPS satellites circling Earth, companies can see to what demographic they should cater.
For example, many companies utilize these tools to determine where to broadcast ads. You may have noticed that you see certain ads frequently in your home town. However, your friends and family, who live in different states, may not be familiar with the same ads as you. This is because these companies are using location intelligence services and tools to help them make decisions, such as where to display their ads, compared to locations where ads would only be a waste of money. In this way, businesses can save money and reduce costs. They have the capability to increase the efficiency of their advertising and marketing campaign.
When you consider the size of the world population, the importance of demographic reporting becomes very clear. In the next 40 years, the world’s population will significantly increase, as the number of people will reach about nine million. With so many people to cater to, the importance of understanding customer preferences and trends in various locations becomes paramount. If businesses want to continue to implement cost effective marketing strategies and advertising campaigns, they will need to have a strong grasp on what is location intelligence and other such tools.
Plus, individuals should have this good understanding of what is location intelligence analytics, as well. This is because, by 2020, jobs involving familiarity with GIS and location intelligence will grow significantly. These positions includes cartographers, geographers, as well as survey and mapping technicians. With such huge growth estimates reported by the United States Bureau of Labor Statistics, it makes sense that location intelligence will continue to be an important part of the industry.