Location intelligence combines business intelligence and geo-spatial data combined with cartographic tools for a better understanding of geographical context and location-based relationships that occur within the data. Location implies storing and tagging chunks of raw data with specific location and intelligence determines the process of analyzing, accessing and synthesizing data and converting this into knowledge or intelligence and then converting the learning into appropriate business actions. On the basis of organization, the global Location Intelligence Market is segmented into small, medium and large.
Advances in location intelligence software are specially built to connect and access all important business insights& operational data (such as CRM, SCM, ERP, etc). These attributes are further connected via spatial and cartographic efficiencies. At the topmost of integrated data environment, a powerful and enhanced tool of data analytics such as heat maps, data clustering, time sliders, user managed thermatic tools and iconography exists, that enable the marketers to shift from analysis and insight to actionable outcomes more instantly.
Location intelligence also enables a favorable multivariate analysis. For instance, by analyzing the demographics of an area to categorize customers according to the preferences, the sales and marketing budget can be aligned making it easier for customers to reach in the most effective manner as possible. Precise trade analysis marks all the difference when improved marketing decisions result in operational performance and augment the return of investments for marketing operations.
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Trade area analysis, Predictive analysis, Data visualization &Reporting are some characteristics under location intelligence that enable error-free and an improved data management. From the commercial point of view, business insights are useful to any business if obtained from authentic sources. By using or enabling location intelligence as a business insight and drawing relevant data out of it, several business verticals can gain greater significance in terms of insights. Thus, with the growing popularity, the global location intelligence market is anticipated to grow at a higher CAGR during the forecast period.
The key driving factors responsible for the growth of location intelligence market includes need for social security in developed and developing countries. Additionally, the growth of geospatial industries and enhancement in photo technologies are contributing to the market growth. Moreover, improvements in data collection methods are further augmenting the demand for location intelligence market.
On the basis of service, the global location intelligence market is segmented into consulting, system integration, network infrastructure and management. On the basis of industry, the global location intelligence market is segmented into consumer banking, travel, aerospace and defense, BFSI, construction, automobile and others. On the basis of application, the global location intelligence market is segmented into workforce management, facility management, hospital management and others.
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On the basis of geographic segmentation, the global location intelligence market spans North America, Latin America, Europe, Middle-East, Asia-Pacific and Africa. North America dominates the global market in terms of value. The region houses multiple big players that are involved in this business. APAC regions are anticipated to grow at a higher CAGR due to growing needs of accuracy in data models and statistics. India, China, Japan, Malaysia and Singapore are some regions involved in delivering consulting, research and development for business insights.
The key players in the global location intelligence market include Cisco Systems Inc, ESRI, Galigeo, Oracle Corp, IBM, SAS institute, Pitney Bowes Inc, Teradata Corp, TIBCO Software Inc, Locomizer, SpaceCurve, PlaceIQ Inc, Caliper Inc, Microsoft Inc, Spatial Plc, and SAP SE.
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