Quantzig, a leading analytics advisory firm that delivers customized analytics solutions, has announced the completion of its free resource that highlights the benefits of location analytics. Location analytics is an analytical approach that revolves around leveraging data and analytics to gain insights from the location or geographic component of business data. Transactional data generated by businesses today, often contain a geographical component that, when laid out in a geographical information system (GIS), paves way for new dimensions of analysis and insights, in this case through a more visually engaging approach.
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Almost everything about a business exists at a specific time and location. It could be objects like raw materials, products, facilities, people like employees, agents, customers, or events like deliveries, purchases, and production runs. By understanding how these elements relate to one another, businesses can make well-informed decisions that can improve their business efficiency. Location analytics helps in understanding and targeting customers to optimize business processes and enhance outcomes. Location analytics is here to stay, mainly because its advantages contribute and apply to practically all industries that their growth is irremediable. With the advancements in technology and mobile devices becoming pervasive, the amount of location data that they generate is massive. In today’s competitive world, businesses have recognized the power of this data to acquire new customers, gain competitive insights, and observe offline consumer behavior. However, a perfect combination of BI tools and location-based data is essential to boost the growth trajectory of any business.
“With more and more innovations happening in its realm, location analytics is becoming the key differentiator to businesses across the globe, helping them improve customer experience, drive revenue, and increase operational efficiency,” says a location analytics expert from Quantzig.
When budgets are stretched, it’s the quality of customer service that typically pushes customers to choose one brand over another. Request a free proposal to know we can help you improve the quality of service using location data analytics.
Top Five Reasons Why Retailers Must Leverage Location Analytics
Location analytics offers granular, accurate information that will empower businesses to understand customer demands in terms of their preferred products/services. Armed with such data-driven insights, retailers can make critical decisions about launching new product lines, store refurbishments, and new store launches.
Location analytics coupled with intelligent modeling tools can help you to test the various investment scenarios and predict ROI with a high degree of accuracy.
Boost Customer Experience
By leveraging location-based data as the context for customer experience management, businesses can quickly identify and isolate the root cause of several customer service issues ranging from production to distribution, and delivery.
By layering business intelligence onto location-based data, it becomes easier to visualize business performance at a glance. Location analytics can also help you drill down into manufacturing information, logistics data, supply chain data, customer service records, store losses, and more, to identify inefficient areas.
Build Customer Loyalty
Using location-based data retailers can build their shopper profiles and use them to engage customers and enhance loyalty. It also helps you analyze the effectiveness of the current customer service strategy for each group and model-specific improvements. Ultimately, retailers can take advantage of a more strategic, accurate, and risk-free approach to protect their greatest business asset.
Want detailed insights on the benefits of location analytics? Contact us to get your free copy of this resource.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal