3 Benefits of GIS for Marketing Analytics
Location intelligence and geospatial data analysis plays a much larger role in everyday life than most people imagine — from smartphones to cars, much of the modern world is guided by spatial technology and it’s principles. One area that is particularly influenced by geospatial technology is the marketing analytics sector. When companies develop products and services, they must know as much as possible about the customers they are catering to. There is where demographic reporting comes in — a process that is much abetted by geospatial aides. Check out some of the main benefits here:
1. Greater Efficiency = Greater Cost Savings
By using geospatial tools, your business will be able to refine processes and make them so much more efficient, that they will save you money. This goes for both the gathering of demographic information to the analysis of the information and application to your business and technology.
2. Informed Decision Making = Better Decision Making
The better you know the market you are catering to, the better you can decide on a branding and marketing strategy. This is why demographics are such a prolific and profitable market — you want each and every member of your audience to feel like they are talking directly to you. Population statistics and census data, when applied to your business can help you avoid making multi-million dollar mistakes in product development and subsequent advertising.
3. Better Geographic Recordkeeping = Better Management
Managing your product development programs and advertising campaigns over time and specific location will give you an edge because you will begin building up a record log that can be used to make predictions about the future and help you and your company learn from any particular mistakes made.
Once a company knows where and who their audience is, and has a database to continuously refer to, there is no end to what they can do with that information. Marketing strategies are often entirely based on these demographic details. When it comes to geospatial data analysis, don’t sell yourself short! There is no end to the cost savings and increases in accuracy it will bring.