6 benefits of using geospatial data for your business
Photo by NASA on Unsplash
Could geospatial data be the next big thing for your business? If you have no clue what it is, keep reading for a crash course on geospatial data and all its benefits.
When someone says data, our minds often jump to zeros and ones, the data from our online profiles, or what we do on the internet. But not all data comes from the web: some comes from the physical world around us, and it is just as valuable–if not more.
We’re talking about geospatial data. It is all around us, and it has the potential to transform the way businesses operate. From marketing and sales to logistics and shipping, this type of data can be used in a variety of ways to improve efficiency and bottom lines. But a lot of businesses aren’t benefiting from it yet, because they ‘’exist’’ online. But even ecommerce businesses could benefit from it.
What we’ll explain in this article is what geospatial data is, and how you can get your hands on it. Then we’ll dive into some of the businesses that use this goldmine of data, and give some examples of how you could do it too.
What is geospatial data?
You may have heard of geospatial data before, but what is it exactly? Geospatial data is, in the most generic terms, data that contains information about specific locations on the earth’s surface. It is data that includes a geographical component.
That geographic component could be latitude and longitude coordinates, street addresses, or even place names. In other words, it is data that can be mapped.
There are two types of geospatial data
There are two main types of geospatial data: vector and raster.
Vector data is made up of points, lines, and polygons (areas enclosed by lines) and is typically used for things like mapping roads and bodies of water.
Raster data is made up of pixels arranged in a grid and is typically used for things like mapping land cover or elevation. Raster data often contains more detail than vector data, but it’s also more difficult to work with because it’s bigger and harder to manipulate.
Examples of geospatial data
Some common examples of geospatial data include:
- Road networks
- Elevation
- Land cover
- Population density
- Soil type
Photo by GeoJango Maps on Unsplash
How is geospatial data retrieved?
Geospatial data can be retrieved from a variety of sources, including government agencies, private companies, and even individuals. The data they access is sourced from GPS devices, remotely sensed images, or even hand-drawn maps, satellite imagery, aerial photography, and even GIS (geographic information system) software.
How do you handle this kind of data? Spatial data mapping software can help you turn this data into useful information for your business. Here are just a few of the ways businesses can use geospatial data.
How is geospatial data used in everyday life?
Unless you’re great with a compass or have a great natural sense of direction, you have probably used geospatial yourself. In your navigation system, for instance.
There are plenty of practical uses of geospatial data. It can be used to map crime hotspots in a city so that police can target their patrols more effectively. It can also be used to map the spread of a disease so that public health officials can take steps to contain it. Sounds familiar, doesn’t it?
It can even be used to map the locations of all the Starbucks in America (not that we needed any help with that). That’s where it becomes more interesting for business owners.
How do businesses use geospatial data?
We’ll start simple. Let’s say you run a grocery store chain, and you want to open a new location. We all know you need to do market research, sure. But don’t skip the step of analyzing geospatial data!
By leveraging geospatial data, you can determine things like the best location for your store (based on customer demographics), the competition (i.e., other grocery stores in the area), and even potential traffic patterns.
Or let’s say you’re a real estate developer, and you want to build a new shopping mall. By looking at geospatial data, you can determine things like the most accessible location for your target audience, the best layout for your mall (based on traffic flow), and which stores would do well in your mall (based on customer preferences and what’s around).
Another obvious one: agricultural businesses. They can use geospatial data to map out acres of farmland, plot the best location for irrigation systems, track soil erosion, and more.
6 ways your business can benefit from geospatial data
Even if you’re not a farmer, not opening a new location, or aren’t a realtor, you can and should benefit from geospatial data. Let’s look at some of the ways it can do that.
1: Use geospatial data to improve your marketing efforts
Geospatial data can be used to inform marketing efforts in a number of ways. Knowing what an area looks like, tells you a lot about your target group. So, don’t just look at where they are online: look at where they are, physically too.
For example, this type of data can be used to identify target markets, assess customer demographics, and track customer behavior. By understanding where your customers are and what they’re doing, you can more effectively market your products or services to them.
Geospatial data can also be used to study demographic trends in order to target marketing efforts more effectively. Get to know your target group using a whole new set of data–it won’t hurt!
2: Spice up your sales strategies with geospatial data
Where does it make sense to put the billboards?
That’s right: geospatial data can also be used to develop better sales strategies, especially if you’re aiming for offline sales tactics.
By understanding the landscape in which you’re operating, you can make more informed decisions about how to promote your business.
3: Streamline your logistics with geospatial data
Geospatial data can be used to optimize delivery routes and optimize warehouse operations, logistics and shipping: assess transportation routes, identify potential choke points, and optimize delivery schedules.
This is especially helpful for businesses that need to make frequent deliveries or operate multiple warehouses in different locations. Don’t overlook these aspects when improving your business: it could save you some serious money or make your customers a lot happier.
4: Add geospatial data to your market research
Geospatial data can also be used for market research purposes. By understanding the demographics of an area, businesses can learn more about the potential customers in that area. This information can be used to make decisions about what products or services to offer, how to price those products or services, and where to locate your business.
It might seem simple: look at how many people live in an area, what stores there are, and you’ll get an idea of how sales are distributed. But if you’re going to use geospatial data, try to look at how it has developed over time – and try to figure out why. That is the information you can really use as fuel for your business decisions.
5: Use geospatial data to improve your customer service
Another way businesses can use geospatial data is to improve customer service. By understanding the locations of your customers, you can better understand their needs and tailor your service accordingly. Don’t underestimate how having even a little understanding of an area can change a lot in the solutions you offer.
For example, if you know that most of your customers live in urban areas, you can focus on providing them with convenient delivery options, or pick-up points. Or, if you know that your customers are spread out across a wide geographic area, you may want to focus on providing them with 24/7 customer service. It’s the little things, that aren’t so little.
6: Leverage geospatial data for asset management
Businesses can also use geospatial data to manage their assets more effectively. This data can be used to track the location of assets, monitor their condition, and predict when they will need to be replaced or serviced. This information can save businesses time and money by helping them avoid costly downtime due to asset failure.
Now’s the time, uh, place, to start using geospatial data
Geospatial data is everywhere, and it’s just waiting to be explored. If you haven’t already started using geospatial data in your business, now is the time to start!
