Predictive analytics solutions have incorporated the fundamentals of location-based analytics for years, but these were typically cumbersome tools that were confined to small groups of specialists. With the abundance of location data generated from smart phones and connected devices, the potential of geospatial data has expanded dramatically, especially in the retail industry.
At a basic level, geospatial data better enables retail organizations to focus marketing and promotions at target customers. It’s important to answer the following questions:
- Which customers meet our target profile?
- Which of our retail outlets are accessible for these customers?
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Without knowing anything other than addresses, ages, and survey results, it’s often difficult to answer those questions. Target customer identification often requires many unknown attributes and data points. However, the cost of not knowing an accurate answer to these questions is an obvious waste of marketing and promotional dollars. Organizations like Google, Amazon, and Walmart have already realized the benefits of location-based data to achieve growth and digital transformation. However, most other organization aren’t sure how to best implement a geospatial solution, even when the need is identified.
Perficient partnered with Pitney Bowes to offer organizations a more accessible solution for geospatial data integration and analysis. Integrating Pitney Bowes’ datasets with business intelligence solutions like IBM Watson and Cognos, removes many barriers to implementation. With this integrated solution, organizations can better analyze target customers by target market characteristics and proximity to retail outlets. Interactive maps with linked reporting are provided to visualize retail proximity analysis.
If you’re interested in learning more about applications of geospatial data and how organizations are leveraging these datasets to deliver actionable insights, check out the following webinar on April 20: http://www.directionsmag.com/webinars/register/geospatial-analytics-goes-mainstream-discover-the-datasets-that-add-ac/492738
Perficient’s Mark McDaniel is presenting with Location Intelligence experts from Pitney Bowes.