Location intelligence helps businesses make strategic decisions. For example, companies can analyze customer behavior based on geographical location, optimize their supply chain, and find the best spots for new branches. In this article, we will explore how location intelligence can add value to your business.
Location intelligence is a technology that is gaining popularity in the business world. According to Grand View Research, the global location intelligence market is expected to grow at an annual rate of 15.6% from 2023 to 2030.
Avoiding Bad Locations
When opening a new shop, restaurant, or branch, a business needs a lot of funds. So, it’s crucial to plan carefully and do some thorough research. Picking the wrong location can lead to big financial losses, which is why location intelligence is so important.
This tech helps businesses figure out which spots are promising and profitable and which ones aren’t. By looking at foot traffic and demographic data, businesses can pinpoint the best places to attract customers. This way, they can make smarter decisions and boost their chances of success in the new location.
More Targeted Marketing Campaigns
Businesses can use various channels to reach their audience, like billboards, posters at stations or on trains, and other busy spots. But if ads are placed without much thought, they might not be effective, especially if the location isn’t frequented by the target market.
Location intelligence solves this problem. By using location data, businesses get a better understanding of local consumer behavior. This tech helps them find out where their target market hangs out and put ads in those spots.
This way, businesses boost the chances of their ads reaching the right people, making their marketing campaigns more effective and improving their ROI.
Better Supply Chain Network
A smooth supply chain is crucial for keeping a company running efficiently. If it’s not managed well, it can become a big financial headache and lead to other issues.
Location intelligence helps companies optimize their supply chain by finding the best spots for distribution warehouses. This tech also lets companies map out the coverage of each warehouse, so they can see which areas are still missing and which are covered.
By opening a new warehouse in an underserved area, businesses can greatly improve their supply chain’s efficiency and responsiveness.
Easier Field Sales Management
For FMCG companies, managing a big field sales team across large areas can be pretty tricky. The larger the company, the more complex it gets to handle sales territories.
Unfortunately, using traditional methods to manage field sales often means missing out on complete, real-time information about what’s happening in the field and how sales are performing.
That’s where location intelligence comes in. This tech helps companies plan sales territories more efficiently, optimize visit schedules, and get better insights into field sales.
With location intelligence, businesses can keep an eye on sales locations in real-time, manage visit routes more effectively, and boost transparency and efficiency in their sales operations.
Streamline Your Business Operations with LOKASI Intelligence
LOKASI Intelligence is a user-friendly geospatial analytics platform packed with powerful location data and insights.
With LOKASI, businesses can strategically plan territories, monitor field sales in real time, and efficiently manage schedules and routes for sales visits.
Additionally, LOKASI helps businesses identify the best locations for new branches or warehouses and assess their reach. This allows companies to gain deeper insights and create effective strategies for business optimization.
Want to know how LOKASI Intelligence can boost your business? Reach out to us at [email protected] or WhatsApp: 087779077750.
FAQ
What is Location Intelligence?
Location intelligence is a technology that lets businesses manage, analyze, and visualize their data on a map. By using this technology, companies can get valuable insights that help them make smarter, more effective business decisions based on real data.
How Is Location Intelligence Used?
Location intelligence can be applied in many ways for business, like pinpointing specific areas, finding strategic locations, optimizing marketing campaigns, and much more.
How Does Location Intelligence Add Value to Businesses?
Location intelligence boosts business value by helping avoid unprofitable locations, craft more targeted marketing campaigns, streamline the supply chain, and make field sales management easier.
