Lepton Software

What is SmartData Solution and Why is It Important for Your Business?

Posted by: Gaurav Kumar
Category: SmartData
What is SmartData and why is it important for your business

In today’s digital economy, companies have access to massive amounts of data–creating a foundation of intelligence for data-driven decision making. The movement of people and material across geographies reveals valuable insights that can be applied to many business initiatives, like targeting markets, infrastructural planning, real estate planning, and more. 

Geolocation data refers to any information having location-based coordinates like longitudes and latitudes. Usually, the data is related to an electronic device or an object connected to the Internet. For example, if you leave your phone at your home to go for a run, the physical location of your device will be your address. However, if you have a smart fitness device tied to your wrist like a watch, its location will be the spot you chose to run. 

Devices like these help organizations understand how their customers and stakeholders behave and move in real-world scenarios. The opportunities and areas to leverage location data are vast, let’s try and understand how it can be fruitful for any type of business. 

 

Customer targeting and segmentation

 

The majority of revenue that a business generates is solely reliant on the customer base acquired from various marketing channels and touchpoints. While it is imperative to have such data, it could only take you so far. With the exact location data of your buyers and prospects, marketers can carry out advanced data analysis based on region, demographics, preferences, spending patterns, and behaviors. This data also supports regional offers, discounts, and promotions to accelerate conversion rates and reduce the overall marketing spend by excluding irrelevant customers based outside of the target area.

Location intelligence solutions like SmartData by Lepton lets you dig deeper into these vital customer insights and help you understand your audience in a better way. 

 

Business planning and expansion

 

A location-based market segment that includes data points such as demographics, likes and preferences, and other vital information about your customer base plays an important role in business planning and expansion. Knowing exactly where it would be profitable to expand, and understanding the appropriateness of a particular area can determine profitable business opportunities. 

These location intelligence services like SmartData allow you to measure footfall rates, analyze competitors’ footprint, and help organizations to anticipate consumer behavior and in turn, craft their offerings accordingly.

 

Last-mile delivery fulfillment 

 

Moreover, these types of solutions can also ensure delivery of goods on time, following an optimized route and accurate tracking to the end-user. Using location coordinates, fulfillment facilities can follow the shortest route from point A to point B, while also saving time and providing exact location information to the customer.

Location coordinates, coupled with valid Pincode data can help mitigate any delivery obstacle beforehand. For example, two addresses might appear to be close to each other, and in the same locality–but only after using accurate location intelligence like digital maps, the companies will know that there might be a water body separating the two locations, making fast deliveries a challenge. 

 

Site-planning

 

Robust solutions like SmartData also can also facilitate efficient store-planning. Decisions like where to open, close, or relocate a physical retail store or a manufacturing plant can easily be made using valuable location information. Also, observing the popularity of store locations and the movement of your customer base around them can help you predict the ROI and optimize your operations. 

For example, if a quick-service restaurant wants to open a franchise, it will try to open the franchise close to the daily commute route of its potential customers and multiply its chances of higher revenue. 

But this is not all. Location data can help you accumulate powerful insights that support almost every sector of the economy.

 

Understanding data in context to location, using intuitive solutions and tools enables you to:

 

  • Analyze patterns and customer behavior
  • Optimize travel or delivery time and cost
  • Identify sites that maximize profits and minimize customer travel
  • Refine Sales & Marketing
  • Asset Management
  • Fraud Detection
  • Route Optimization
  • Territory Management

 

How Lepton can help?

 

Lepton is a leading service provider for location services, which makes it easy for your business to make the most of its location services. We empower all types of businesses to gain a competitive advantage with end-to-end location-based services.

 

SmartData offers valuable datasets that can help your business thrive. Let’s look at these datasets in detail.

 

Demographic

The demographic dataset includes:

Populace+

Demographic information examples include age, gender, race, ethnicity, marital status, income, education, and employment.

Town and Village Amenity

Amenity profiles for towns and villages include medical facilities, educational facilities, electricity connections, posts, telegraph, and telephone facilities.

Household Profile

Household profiles include Census houses (vacant, rented, owned, residential), the material of the roof, wall, flooring, household amenities, and household assets. 

 

Geographies

Administrative boundaries

This includes administrative boundaries with demographic data from the latest Census of India, geographic coverage including pan India, lowest geographic level with the town (ward level), and village.

Locality+

This dataset provides accurate neighborhood data with boundary maps, which are critical for businesses addressing audiences based on localities. There are three levels f hierarchy–locality, sub-locality, and block, which are validated through consistent ground surveys. 

India Pin

This dataset includes the best available Pin/Zip/Postal code information, post-office data with all important attributes, geographic location of pin codes (Lattitudes and longitudes), pin code boundaries as polygon, and pan-India coverage. 

India Toll

Toll data gives information on various toll plazas across India. It includes toll plazas on National Highways, State Highways, and Municipal Corporations.

 

Audience and Mobility

SmartData uses pseudonymous location signals from mobile devices to understand where people move and how they behave in the real world. It then analyzes customer interests, affinities, and in-market buying behavior to create contextual audience datasets for better marketing and targeted advertising. 

Point-Of-Interest

Points of interest (POI) data is foundational to a data ecosystem. As a key pillar of location data, POIs provide the geographic coordinates of non-residential places for mapping and analytics. Also, POI displays locations and attributes for businesses, institutions, landmarks, retail shops, and natural features, where people spend their money and time.

SmartData offers approximately 75 Lakh+ POI across India, which are categorized into 16 categories and 180 subcategories.

 

Navigation

Road Networks

The physical coverage includes city coverage, Pan India coverage by India Road Network, National Highway Roads, State Highways, and railway coverage. 

eTransit

This dataset provides exact information of more than 47 agencies, for example: BEST, DTDC, Delhi Metro, etc. Moreover, you also get information on unplanned incidents on roads that can cause traffic, stoppages, and congestion. Lepton is closely working with Police & other related agencies to capture roads obstructions and incidents.

 

Infrastructure

InfraNow

InfraNow provides data on nascent, ongoing, upcoming, and completed infrastructure projects in India. This data benefits various industry sectors like transportation, oil and gas, water and mining, construction, and manufacturing.

This is not all. SmartData can help you make smarter and contextual decisions with better insights.

Click here to talk to our experts now, or write to us at info@leptonsoftware.com.

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Author: Gaurav Kumar
Digital Marketing Manager at lepton Software, a global leader and pioneer in location analytics & intelligence solutions

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