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Location analytics is rapidly becoming table stakes for consumer-facing businesses looking to deliver compelling customer ex periences while driving revenue and profitability. Learn how Esri GIS can help you chart a stronger, more profitable path for your retail business.
Take A Crawl-Walk-Run Approach
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Take A Crawl-Walk-Run Approach
A well-designed GIS solution should make it easy for you to get started with location data. For example, look for a provider that can take a spreadsheet of your existing locations and bring you new insights in an hour (or less!). Within this time, they should be able to help you uncover which market areas include consumers most likely to purchase a particular product or service.
83% of retailers call customer analytics very important to drive sustainable growth for the next three years.
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Ensure Access To Comprehensive And Fresh Data
Location data does its best work in combination with other types of data. Make sure your provider accesses and expertly maintains a wide variety of fresh data sources that you can add to your workflow with just one click. A rich trove of data means you can understand consumers on a detailed level, from standard demographics like ages, incomes and number of children to media, sports, culinary preferences and how they spend.
Ensure Access To Comprehensive And Fresh Data
Location intelligence leaders drive 1.3X to 2.0X as much impact than followers on key metrics such as customer retention, customer satisfaction and net promoter score.
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Seek Broad Integration Capability
Location data is most effective when it works side by side with other data to turbocharge insights in your current systems. Unlike a point solution that keeps location data separate, a well-designed GIS suite of tools and applications has established integrations or scripting with all the major database providers. It also can accept nearly any kind of spatial or tabular data. This ensures that, as your capabilities and needs evolve, you’ll be able to apply location data to a wide range of use cases.
Seek Broad Integration Capability
47% of retailers list investment in location analytics and interfacing to legacy systems as top ways to overcome organizational inhibitors to using this technology.
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Make Sure You Can Access GIS Tools In Multiple Ways
Being able to access GIS solutions via desktop, SaaS/web or server-based Installations is part of what makes a well-designed platform so flexible. At first, you may want a SaaS/Web-based solution for a quick start and to avoid sharing enterprise data in the cloud. Later, you may want to adopt desktop for more powerful user analysis, deeper insights and more processing at scale, or use a server-based/enterprise implementation to connect to enterprise-type databases. Most users end up using more than one of these access models.
Make Sure You Can Access GIS Tools In Multiple Ways
By 2022, 36% of large and mid-sized organizations are expected to have deployed location intelligence software, up from 10% in 2019.
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Dig Into Data Trends And Correlations
Correlations in data drive shrewd decisions, making powerful and easy-to-use analytics the secret sauce of a great GIS solution suite. During the pandemic, for example, seeing COVID-19 infection rates modeled alongside other location-based data could reveal that the virus is disproportionately affecting economically challenged communities. Such revelations can change the decisions your business makes about locations in those places, as well as how you market to and serve these consumers.
Dig Into Data Trends And Correlations
72% of retailers predict that understanding traffic patterns to at-risk locations will be very important to business resilience over the next three years.
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Seek Customization And Transparency
GIS analytics should never be a black box. A well-designed solution enables you to customize the tools and workflows to your particular needs, and then see how the solution arrived at the final outputs. This is critical, because once you get that formula right, you can scale it from a small area like a particular neighborhood all the way up to massive, cross-border regions.
Seek Customization And Transparency
More than 50% of mapping service provider adopters said their C-level executives participated in the selection process, evidence of its importance to businesses.
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Make Location Analytics Accessible Across The Business
Location analytics can enrich decision-making across the entire enterprise, from finance to supply chain to marketing and merchandising. Look for platforms that offer the sophisticated tools analysts need as well as self-service reporting and analysis tools that can be tailored to users with little to no experience in technology, so you can maximize the benefits of your investments and make better decisions.
Make Location Analytics Accessible Across The Business
Retail “winners” call these location data use cases
“very valuable:”
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80% Combining geographic and demographic data for better business decisions
68% Delivery optimization
65% Marrying customer and product segments
BCG
RSR Research
RSR Research
Gartner
RSR Research
BCG
RSR Research
