More businesses are now realizing that technology is only as good as the content and quality of the data that is being managed. Location intelligence provides the capability to organize and understand convoluted processes through the use of geographic relationships. At an enterprise level, Location Intelligence has the capacity to optimize business processes to improve profitability and competitiveness. Location intelligence helps businesses use the principles of location to organize, reason, plan, and problem solve. The degree of information is enriched by the successful integration into a process that results in better business decision making. Transforming location intelligence into profit is about transforming business processes to create more enterprise opportunities. The business use of location intelligence can be divided into the following three sub-categories that are designed to improve profitability.
Consumer Applications: These are enterprise applications that build loyalty among customers and influence purchasing behaviors. For example, retailers can execute store-specific promotions with more accuracy or use location intelligence to enhance loyalty program services.
Customer Service: Applications that facilitate customer service and self-service to improve the overall customer experience. For example, a government agency can more efficiently measure service levels or plan for the distribution of services that are in many cases dependent on variables that change over space, such as household income or number of children.
Enterprise Decision Support: Enterprise applications that help create optimal business strategies where the outcome is improved profitability. For example, identifying common customers and determining how to offer services to achieve the greatest value.
To access all possible revenue opportunities through location intelligence, a location intelligence provider should be able to provide the following:
All Validated Addresses in a Market: Creating the capability to determine the exact households in a serviceable market'
Mapping to the Property: Adding geo-targeted precision through geographic references to the property parcel or roof-top levels for contemporary location intelligence applications.
Residential, Business and Unit Information: Illuminating residential and office buildings with access to validated unit and floor information.
Address Management: Address validation, data cleansing, and data maintenance. The enterprise benefits from clean, current, and standardized address elements with geographically explicit references. verifying the existence of individual addresses by matching them against a master address database of functional addresses.
Mapping Addresses: Transforming addresses to embed explicit references of location. This allows the enterprise to map customers and to understand the opportunities among business assets, programs and competitive threats.
Standardizing Addresses: Ensures a common address structure, syntax, and nomenclature. A corporate-wide level of standardization allows for more predictable levels of data quality and system performance.
Merging customer information from a master address database provides complete viewing of all addressed dwellings. This allows for product penetration views, even into Multiple Dwelling Unit (MDU) buildings. Changes to customer product and service levels by building can now be measured to assess marketing, sales, and operational activities. Using location intelligence helps a business understand fundamental characteristics about customers, prospects, and their potential relationships to an enterprise's revenue-generating operations. Location Intelligence has the capacity to optimize business processes to improve profitability and gain a competitive edge.