More than 80% of the data kept by organizations worldwide has a location component. By combining geographic- and location-related data with other business data, organizations can gain critical insights, make better decisions and optimize important processes and applications. You might think that your business does not have a location component.
Consider these perspectives:
- • A company might use location data to study the effect of time-of-day and time-of-week purchase patterns in different regions as the basis of an advertising campaign or discount program.
- • A company might use location data to determine the product mix that performs best in each geographical region.
- • A city government might use location data to plan and develop large-scale public projects.
- • A state government might use location data to enhance emergency preparedness and recovery operations.
- • A federal army might use location data to locate insurgents to plan the best use of military resources.
In fact, even Ray Kroc, the founder of McDonald’s restaurants knew the value of location data. Real estate value and location are, in fact, the most critical factors in predicting the success of a McDonald’s franchise. So, understanding the location data allowed him to determine the best places for franchises. Today, McDonald’s is the largest single owner of real estate; their real estate is valued both for the value of the land and for its proximity to significant traffic for business. |