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What is Location Intelligence?

Today’s advanced ecosystem of mobile technology of smartphone adoption, mobile banking, and new technologies such as reverse geocoding enables banks to have a real-world, real-time impact on every consumer’s experience. In other words, the world is moving towards a more customer-centric array of technologies, which makes it easier for companies to adopt location intelligence.

So, what is location intelligence? Imagine being able to pinpoint the location of every consumer, home, and business in the context of service networks, transactions, competition, partners and regulators. Financial institutions deliver their service at the right time and place for every person, improving the experience while minimizing both cost and risk.

Location Intelligence is the capability to understand complex relationships between location and data in order to drive better business decisions. It enables organizations to derive meaningful insight by harnessing the power of location to solve business problems, deliver location-based services or manage assets.

A recent study found that analytics, including location intelligence, remains as a highly-ranked technology focus in 39 per cent of all organizations – even though only 12 per cent of all companies effectively capture and analyse location data. As brands get closer to consumers via relevant social interactions and on-the-go touchpoints, financial institutions that master location intelligence gains a significant advantage over competition – the kind of advantage that delights customers, wins loyalty, and grows revenue.

One of the key advantages of using location intelligence is having an increased geo-relevance. For example, today consumers “check-in” using the built-in GPS functionality of their smartphone devices—providing a clear indication of their most current wants and needs. By gaining access to this timely and relevant consumer information through popular social media apps, banks are able to present highly relevant offers.

Banks would target consumers based on neighbourhood clusters and demographic segmentations. Now, retail banks are able to pinpoint opportunities based on real-world shopping behaviour. Location intelligence is an easy-to-use solution that helps make businesses more profitable and governments improve service delivery. These solutions deliver powerful visual ways to analyze spatial and business data to drive more effective decision-making across commercial and government organizations.

Accelteam has been actively working with customers from the various technology industries driving business improvements using geocoding and location intelligence. With the aim to promote the customer-centric location application technology, Accelteam has the right solution to help customers gain an advantage over existing competition.

In fact, for the past two decades, AccelTeam has been one of the leaders in providing location intelligence in this region. If you would like to learn more about IoM or Information on Map, please reach out to us at info@accelteam.com