The location of any business, whether online or on-site, is critical to its success. That is why you need location intelligence in determining the ideal site for your business operations.
Even if you want to expand your business while looking for the best place to open your branch store, location intelligence is a great option.
Let’s take a closer look at location intelligence and what it can do for your business.
Location intelligence (LI) is a technique for extracting insights from geographical data to solve specific challenges in different sectors. It is designed to provide analytical and operational business solutions using geographical information system (GIS) capabilities. The technology assists companies and governments in gathering critical data sets like location data, and point-of-interest data for in-depth geographic analysis.
With LI, businesses can assess diverse conditions and complexities to find answers to their specific business problems. One of the primary advantages of GIS is that it assists firms in identifying new possibilities and improving operations. With the help of LI, your company can locate potential consumers and make itself available to suit customer demands.
Moreover, LI optimizes business choices ranging from the location of a new store to improving supply chain management and developing engaging marketing campaigns. Location intelligence is used in various sectors to assess risk and verify claims. With LI, businesses can manage their clients by linking their enterprise resource planning (ERP), customer relationship management (CRM), and social networking platforms with the Geographic Information System (GIS).
Why should you opt for LI for business expansion?
When you are thinking of opening your business in a new location, you might have a few questions:
- What are the ideal spots for my company to grow?
- What are the buying habits of the individuals who live in this new neighborhood?
- Who are the current competitors, and where can you find them?
To provide answers to your questions, LI comes into the picture. With the help of geospatial intelligence, you can successfully execute a mapping process to identify the ideal location, learn more about your consumers, and do a competition study.
You can calculate the market size and gain insights into the number of individuals likely to patronize you at a new spot. Know how many sales and profits you will earn in a certain period and visualize the profitability of your business at a specific location.
Uncover your audience demographics and pinpoint their location. Acquire more precise information about them, such as their buying patterns and hobbies.
Lepton Softwares initiatives in business expansion with location intelligence
Lepton Software has been a pioneer in bringing digital maps to India. We have all the solutions and services around geospatial intelligence for your needs. And when it comes to improving business efficiency and expansion, we have various location-based solutions like SmartMarket, Google Maps Platform, and SmartTrack, along with SmartData (accurate location data).
SmartMarket can help you identify gaps, opportunities, risks, and market penetration or saturation. Find and evaluate data trends connected to risk variables such as natural catastrophes, crime rates, and economic situations. Identify the best locations for future branches based on consumer demographics, traffic patterns, and competition.
As a leading partner of Google Maps Platform in India, we provide robust location-based services.
Now, use information from over 200 million locations and areas of interest to assist people in finding you, attracting consumers with reviews, and even detecting fraud. View and analyze data from numerous projects on a Google map to make smarter decisions, manage and deploy your field to the correct areas, and simplify asset maintenance.
Lepton Software has helped more than 500 companies since its inception with its map-based offerings like SmartTrack, tracking, managing & optimizing workforce performance while reducing operational costs and increasing revenue.
SmartLocator, locating the nearest store, analyzing visitor data, and planning the next store opening. SmartData, making strategic business decisions by analyzing more than 75 lakhs+ of map data parameters like pin code data, boundary data, and many more.
To sum up,
Expansion of your organization necessitates strategic planning that includes location intelligence. Using location intelligence for business expansion can help you boost your sales and increase conversion rates while attracting clients to your store. You can also effectively understand their buying behaviors and plan while targeting new customers.
With location analytics, assess your market size and establish if a location is lucrative, among other advantages.
Want to know more?
Then get in touch with our experts and expand your business strategically.