GPS on smartphone

The 4 Benefits of Geolocation Technology for Industries

If you have a phone, you might have used the in-built GPS when driving. It’s a pretty accurate tool that many people rely upon. Unless you’ve been living under a rock, you have used some sort of location services to navigate through an area. Just like the GPS in your car, certain geolocation intelligence tools can be helpful.

Many industries can benefit from PREDIK Data-Driven’s geolocation approach market map and access a more global and wider marketplace by using it. Let’s take a look at some of the benefits of geolocation technology and how it can improve your operations.

Personalized Marketing

With interactive and location-aware technology, you can make your communication with customers and other vendors more personalized. You can easily target the demographics you know interact with your business and make your offerings personalized.

Geotechnology can also help you obtain customer data from different sources. You can reach out to them with the right information about their buying patterns and provide relevant offers based on their location. Additionally, customized push notifications and SMS alerts based on the customer’s location are better than general texts.

Push SMS alert with geolocation technology

Identify Opportunities

For all organizations, regardless of their industry, there needs to be a successful strategy. This will depend on the business type. However, location intelligence tools and geolocation strategies are highly effective.

You can obtain valuable business insights related to your previous marketing efforts. You can plan out your new strategy and use geolocation to find business opportunities. Once you identify the right opportunities, you can maximize the profits from your distribution channels and networks.

Customer Journey

With geospatial and location intelligence, businesses can discover each customer’s location before and after their visit. This is a great way for cross-selling or upselling as the pattern can prove to be useful for different industries.

For example, if a customer visits a bank after buying coffee from a nearby coffee shop, the bank can offer them exclusive deals or discounts for coffee or drinks. This will help them identify potential sponsorship or partnership opportunities.

Optimized Allocation of Resources

Before the new geolocation technology, companies relied on manpower to track down certain products or vehicles and update the statistics. Because everything was done manually, it required more resources and was time-consuming.

The processes have become more streamlined and automated with new technology like geospatial and location intelligence tools. Manpower can be allocated to other departments where geolocation can’t be used.

If you want to take your industrial operations and management to the next level, visit us at PREDIK Data-Driven today. We have research-based, data-driven solutions to make your processes more efficient.

We offer various location analytics solutions for our clients, including site selection analytics and market assessment tools. If you’re looking for a big data analytics company, check us out now. Contact us today to learn more or schedule a demo.

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