The world’s population is currently around 6.5 billion people. Over the next four decades, that number will most likely soar to over 9 billion people. Visualization can change the way we look at the data and information that we collect and rely on to do business.
When the data you are collecting contains a geographic or geospatial component, then you can utilize location information to provide you with a whole new layer of insight during your analysis. Location intelligence companies integrate and analyze this collected information for use in decision-making processes.
In February 2014, Dresner Advisory Services put out a global business survey and discovered that 50% of all respondents across several different industries said that location intelligence companies are very important and even critical to their business planning.
At any given time, there are at least 24 GPS satellites that are actively circling the earth. With some of the spares that are available, that number could go as high as 30 satellites. Location intelligence software has come a long way in the last few years and is getting better all the time.
Think about how you get from one place to another now compared to fifteen, ten, or even simply five years ago. Virtually everyone has access to a satellite GPS system on their phone or other devices. The technology that location intelligence companies utilize is remarkable. They can pinpoint where people are traveling, shopping, dining, and staying while on the road.
Location intelligence solutions often involve deploying location intelligence by analyzing data using a geographical information system, otherwise known as a GIS. This is very successful for many businesses because the GIS tools enable spacial experts to collect, store, and visualize the data. Geospatial technology is also employed when putting this sort of data together.
The data that is analyzed is used to make decisions about where to put store locations for retail and restaurant businesses. Culture, lifestyle, cost of living, crime, and education are a few of the data elements that are used by location intelligence companies to give their clients an accurate view of what to expect in certain areas that are being looked at. If a company is going to invest the money in a new location or some kind of new venture, this data can help them save money and feel much more confident that their investments are being made wisely.