5/5/2023 0 Comments Blog share gps tracksFor some products, this relationship is very strong. They can also send discount offers based on the person’s spending habits.Įverybody knows that changes to price can affect the demand. Large retailers like Walmart and Target use interactive maps to help customers find products inside a store. Improving experience in physical stores.In fact, a 1-second delay in map loading speed can lead to a 15% drop in conversions according to the BCG study. Map-based search is now essential to real estate apps. Yo can see commute times, property valuations, crime rates, and other important factors for selecting a home. Real estate software often layers property data on top of a map interface. Some of the world’s top enterprises use LI to augment search, discovery, and map functions in geolocation tracking apps. 78% of executives in the BCG study use this trick to engage customers. Then, send them targeted offers at the right time. You can combine a user’s position on a map with their shopping habits, preferences, and interests. Geomarketing, or geo-push, is a staple in geolocation app development. Location Intelligence can help you with both goals. They also seek to optimize their business operations, cutting costs and improving profit margins. Most companies struggle to provide better customer service in the face of rising competition. Cloud-native services, state-of-art analytics, and data exchanges make it much more accessible to smaller businesses. Leaders in LI report 2x higher satisfaction rate, sales volume, and back office efficiency than competitors.Īnd location-based technology isn’t just for the world’s largest enterprises.91% think it will become even more important in 3-5 years.95% of respondents said Location Intelligence was critical to reaching their business goals in 2021.Boston Consulting Group (BCG) has recently run a massive survey of 500+ executives in various niches. Yet, location-based technology has a much higher potential beyond simple advertising. Starbucks combines this with their CRM info – the type of coffee you like, the time you regularly make purchases, and so on. Did you ever have Starbucks send you a discount on your favorite caffeinated drink when you were about to pass by one of their outlets? To achieve this, the company must track the location of your smartphone. Simply put, it is the use of GPS or mapping data to discover insights about your market and customers. How to bring it all together: the cloud-native approach.Types of geospatial data to power new business capabilities. Examples of Location Intelligence in various industries.And yes, I’ll keep the language as accessible as possible ) Here’s how you can benefit from Location Intelligence using the cloud-native approach. For the past year, I’ve been helping to build an app for real estate investors that uses location data as its main advantage. I’m Dmitry Ieremenko, a Senior Engineer at MindK. So, what exactly is Location Intelligence? And what does it have to do with location-based app development? The niche is growing at an amazing rate of 15.6% a year. Location Intelligence (LI) is a $50B+ opportunity for all kinds of businesses.
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