3 Other Uses for Geospatial Data and Tools

July 28, 2023 — Geospatial data is an excellent tool that can help you gain a multitude of advantages in business—be it in entrepreneurship and marketing, where geospatial data is used to analyze customer demographic profiles and behavior to increase sales, in competitor intelligence to determine the strengths and weaknesses of competing players in the marketing, or in investment research to collect useable data in identifying profitability of investments.

Visit Attribution

Visit attribution uses GPS location data in conjunction with points of interest (POI) data to determine if a device (and its user) visited certain areas, such as a store. By setting up geofences – virtual perimeters – around areas that are of interest to you, you’ll be able to identify a variety of crucial data such as total foot traffic in a given locations, the number of customers who visit your store in comparison to the total foot traffic, the number of those who purchase, and more.

By integrating geospatial data into your business practices, you’ll be able to derive data-backed insights such as ideal areas to advertise, potentially better store locations, and more.

Site Selection

Speaking of better store locations, when it comes to starting a business, where you set up shop plays a big role in determining success.

For advertising businesses, using geospatial data can help identify the most ideal locations as well as collate raw data to further support and boost sellability. For real estate, geospatial data can be used to identify prime locations in proximity to schools, office centers, supermarkets, and more.

Various businesses and industries are not exempted from the benefits of good site selection and integrating geospatial data can give you the kind of insights that can hint at the profitable (or non-profitable) success of a location and, in line with that, the business.

Risk Assessment

In the context of the insurance industry, the recognition of geospatial data’s value has increased steadily over time. One use case is the development of liability frameworks for establishments. Proximity to other structures, area coverage, location, incident history, type of goods sold or stored – these are some of the important bits of information that are considered in the framework, the same bits of information that geospatial solutions can record and collate to form usable insights.

But using geospatial tools doesn’t stop at insurance firms. Risk assessment must be present in any and all manners of business if you want longevity and sustainability. Be it, petroleum, construction, manufacturing, FMCG, retail, or government – any and every industry that will benefit from mitigating risk will always have a use for geospatial data and tools.

Webcast is the only 100% Filipino-owned Google Partner in the Philippines, including Google Maps Platform, with expertise in Asset Tracking, Supply Chain & Logistics, FMCG, and Oil & Petroleum.

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