In the Computer Age, where the main focus of business is on customer experience, this is made possible with the help of analysing the data accurately.
Use of location has increased in business and expected to grow more as automation is evolving. Modern age technologies as the Internet of Things (IoT), Artificial Intelligence (AI), Machine Learning (ML) and Deep Learning are developing new applications to serve the industry requirement alongside location intelligence.
What is Location Intelligence?
Location intelligence includes human and technology combination to analyse geospatial data to understand the trend and pattern that result in action. Location Intelligence develops on Geographical Information System (GIS) tools to gather in-depth information with structured and unstructured data to analyse.
What Location Intelligence Does?
Location Intelligence allows the full utilisation of the location data created out of customer behavioural data, IoT data, GPS and climatic factors to business and government. Geospatial analytics helps to spot trend and patterns that are in a relationship with any business requirement, along with creating effective strategic decisions.
Example of Location Analytics: an international airport based in the US used location analytics for faster customer check-ins.
With the help of Location Intelligence and AI, a business can predict the actual customer demand rather than depending on the estimated market demand. In today’s competitive world, everything is measured on a real-time basis to gain competitive advantages and brand value.
Let’s glance at a few significant features:
In any business to keep the product ready for the customer, they have a stocking system with the regular supply of all kind of product requirements. The company should start to predict customer behaviour along with climatic conditions that may be the reason that hampers the supply. Location Intelligence enables a business to analyze and trend spot buying pattern based on time, occasion and climatic situation.
Companies, sellers, and merchants can predict where specific products are required before the demands arise, and improve on the availability of products and services through peak times. Using real-time behaviour data along with climatic conditions, companies can start production with a well-defined number while decreasing inventory shortage or extra.
Building brand loyalty or gaining customer trust requires a great understanding of consumer behaviour and market behaviour. A business should capture and analyze the complete purchasing process be it on any platform, and according to the result, the supply rate division should occur. The real intelligence enables an advanced business planner to recognize the pattern in their customer purchasing behaviours.
AI, along with location intelligence, can predict the variation befalling in the market due to several geographical situations and reason. This automated insight assures that the exact inventory requirements foretold and scheduled to be delivered wherever and whenever required enhancing the customer trust.
Every success story reveals that the business which gives priority to building a brand name has reached heights. Brand loyalty is not possible without customers trust, and for creating a database of loyal customers, companies should always prioritize on customer experience. Excellent customer experience leads to brand attachment, which then becomes the reason for repeat sales.
Location intelligence provides with more in-depth insight into buying behaviour and helps in delivering more personalized products and services to the customers. In the present era of Artificial Intelligence, location intelligence is making an impact and supply chain specialists need to reconstruct the traditional way of working to the intelligent way of working.
Location Intelligence empowers the business by making sure the availability of products or services anytime and anywhere as per customer requirement. Companies utilizing location intelligence and AI don’t wait to receive orders; instead, they fulfil the demands at the store level. Customers can continue trusting their brand with highly enhanced customer service.