Data analytics is one of the hottest trends in enterprises today. Companies are dependent on data analytics for a wide array of services and features which help the company achieve its goals faster and deliver utility to its customer in a timely manner. When conventional data analytics is powered with location and geospatial, it holistically takes care of the customer requirements. Geospatial technologies enhance the utility, functionality as well as the relevance of data analytics.
“Data Analytics provides a 360o view of customer segments and their needs. Organizations can foresee customer demands through predictive models and drive supply chains more effectively”, says Nishikant Nigam, EVP and Chief Delivery Officer, CSS Corp.
GIS tools have the unique ability to slice and dice terabytes of data in real time to derive decisive insights into understanding spatial trends and associations, adds Nigam.
There is a wide prospect of an increase in the use of spatial technologies. Geospatial data analytics is driving businesses and fostering innovation across different verticals. It also enriches the user by offering him a new perspective of data interaction by enabling users to recognize new patterns and connections, which can’t be showcased in traditional methods using graphs.
“Geospatial technologies enable a 3D view of business data through a map, the required spatial information can then be identified through latitude and longitudinal coordinates to extract demographic and customer information. This collaboration of tabulated data and locational data gives precise context by analyzing heterogeneous information available across complex system environments”, believes Nigam.
The use of geospatial in data analytics infuses fresh dynamism and assists companies and customers, but it also has an important application in streamlining decision-making. The first prerequisite for good decision-making is complete knowledge and awareness of data. Convergence of GIS and data analytics merges flexibility and foresight which is crucial for any company looking at exploring new markets and focusing on customer satisfaction. Location is a vital component of geospatial which unravels the complexities and provides new insights about current and emerging trends.
Data analytics has been increasingly leveraged to discover new markets, develop customer insights, create better customer experiences, streamline processes, and drive innovation. It has also become indispensable and provides businesses flexibility and foresight while charting future roadmaps, opines Nigam.
Nigam also concurs with the immense benefits that convergence of GIS and data analytics yield. He adds, “This convergence is of true value since it helps in locating valuable customers, predict purchasing decisions and patterns, mapping similar customers, evaluating success and failures of marketing campaigns, and the impact of weather on customer footfalls. When data insights are associated with location data, it can generate actionable insights, which can further be visualized to infer what and where to act on, while optimizing leadership efforts to take more informed decisions. “