What is geolocation analytics? How can location-based analytics increase business performance?
Source - 橙泓
Geolocation analytics is a completely new tool in managing the business that allows evaluating, forecasting, and influencing clients’ behavior. The basis of this technology is the analysis and processing of the data received using defining object location. Using location-based analytics, it is possible to monitor visitor flows, build heat maps, and define asset locations in various places.
Benefits of geolocation analytics for companies
Location-based analytics allows getting more statistical information and ensures a deeper understanding of visitor and staff behavior. It opens wider possibilities for taking managerial decisions and working with extended data not revealed while using traditional business analytics (BI).
Application of location analytics
Exact location analytics can be successfully applied in many branches of the economy, such as trading, logistics, industry, healthcare, and culture.
Location data analytics can be used for a better understanding of the behavior of customers and customized offers. Thanks to this technology, marketers, and managers are provided with a wide range of data that can help to evaluate the efficiency of marketing channels, optimize the arrangements of goods in the store and on the shelves, define the most popular places in the store, etc.
Learn more about beacon technology in retail.
The platform lets the shop owners have accurate data on the store performance. With the help of location analytics, it is possible to analyze customers’ behavior, create heat maps, and optimize traffic flows. The additional technology allows monitoring the work of the staff, analyzing the task execution by employees, and timely reacting to any emergencies.
Warehouses and logistics
Location-based analytics in warehouses has simplified the process of staff performance monitoring, tracking assets or goods, managing daily working processes. The system gathers information on the actions of employees and equipment, thus, optimizing the tasks for further periods. Building any analytical reports and performing the automation of warehouse operations become possible with the help of this platform.
A location-aware platform for Digital Transformation of Enterprises.More
In the industrial sphere analytics assists in optimizing business processes and making the right management decisions. The implementation of indoor location analytics allows obtaining the following data:
- history of object movements;
- fixing the hours worked, tardiness, absences at working places;
- analysis of the use and downtime of the equipment;
- detecting non-functioning equipment;
- defining places with the maximum and minimum traffic.
Geolocation analytics can be effectively used in hospitals, polyclinics, and other medical institutions. The implementation of the location-based analysis makes it possible to estimate the occupancy of hospitals, forecast hospitalization, and define the occupancy of every ward. The system provides detailed information on hospital equipment, its usage, occupancy rate, location, and possible faults.
Traffic analytics in offices gives more possibilities for effective staff performance. The system ensures the ongoing gathering of the data on executing different actions by the staff in real-time. Apart from tracking staff performance, continuous staff monitoring allows delegating tasks or duties, as well as increasing the office performance and optimizing working business processes.
Museums can also make use of location analytics by getting detailed data on visitors, studying their behavior, and optimizing the work of the venue. This information can include:
- average time spent in the museum;
- most visited exhibits;
- the division into one-time and regular visitors;
- most crowded halls, etc.
Analytical capabilities of Navigine systems
Building heat maps
The system allows building heat maps that visualize the interaction between visitors and the venue in real-time. In other words, the technology helps to detect various actions of visitors, define what they are interested in more, and what they are looking for. By getting analytical data, managers can understand which zones work better, which lines of goods are most in-demand, and which aspects have to be improved for increasing profits.
History of equipment and staff movement
Moreover, location analytics can provide detailed information on object movements inside buildings. The history can include the following data:
- tardiness, early leaving home;
- equipment downtime;
- sweeping the perimeter by guards;
- most popular or unpopular zones at the enterprise.
Collectively, this information helps to increase working discipline, minimize the possibility of emergencies, ensure staff and visitor safety, and so on.
Location-based analytics has recently found more and more new spheres of application in business. With its help, many functions, such as route visualization, the detection of problematic places in the company performance, and business process optimization, can be performed for increasing profits.