What is Location Intelligence?
Location intelligence allows business analysts to make their strategic and optimize position by linking location data created from GPS systems, consumer behaviors, environmental factors, Internet of Things data sources. Dimensional analytics help the public and private category to detect trends and models that relate to specific business needs, making strategic decisions more effective and your offerings more differentiated.
History of Location Intelligence
Maps have been used to represent information throughout the ages but what might be referenced as the first example of true location intelligence was in London in 1854. When John Snow was able to debunk theories about the spread of cholera by overlaying a map of the area with the location of water pumps and was able to narrow the source to a single water pump. This layering of information over a map was able to identify relationships and in turn insights that might otherwise never have been understood. This is the core of location intelligence today.
How Location Intelligence works
Deploying location intelligence by analyzing data using a geographical information system just within business is becoming a critical core strategy for success in an increasingly competitive global economy. Location or just tools enables spatial experts to collect, store, analyze and visualize data. Location intelligence experts can use a variety of business analytical and spatial tools to measure optimal locations for operating a business or providing a service. They can begin with defining the business ecosystem which has many interconnected economic in Florence. Such economic influences include but are not limited to culture, lifestyle, health care, cost of living, crime, economic, climate and education.
The term location intelligence is often used to describe the people data and technology employed to geographically map information. These mapping applications can transform large amounts of data into color-coded visual representations that make it easy to see trends and generate meaningful intelligence. The creation of the process is directed by domain knowledge formal frameworks and a focus on decision support. Location cuts across through everything that is devices platforms, software and apps and is one of the most important ingredient of understanding context in sync with social data, mobile data user, data sensor using platforms where data as a service. The analytical and visualization tools blend together to create a business-friendly environment.
Location intelligence is also used to describe the integration of a geographical component into business intelligence processes and tools often incorporating spatial database and spatial OLAP tools.
Location Intelligence definitions
In 2012 Dr. Wayne Geary from the commercial real estate industry was selected to offer the first applied course on location intelligence at the University of Texas at Dallas. In this course Dr. Geary defines location intelligence as the process for selecting the optimal location that will support workplace success and address a variety of business and financial objectives. It defines location intelligence as the capability to understand and optimize a physical network of points of sale in the process of making business decisions.
Pitney Bowes corporation describes location intelligence as follows:
Spatial information commonly known as location relates to involving or having the nature of where spatial is not constrained to a geographic location. How ever our most common business uses spatial information deal with how spatial information is tied to a location on the earth.
Merriam-Webster registered trademark defines intelligence as the ability to learn or understand or the ability to apply knowledge to manipulate one’s environment combining these terms alludes to how you achieve an understanding of the spatial aspect of information and apply it to achieve a significant competitive advantage.
Definition by ESRI: Location intelligence is defined as the capacity to organize and understand complex data through the use of Geographic relationships.
Lee organizes business and geographically referenced data to reveal the relationship of location to people events transactions facilities and assets.
Definition by Yankee Group – Location intelligence in Retail Banking:
a business management term that refers to spatial data visualization, contextualization and analytical capabilities applied to solve a business problem.