How Geointelligence Can Help Your Business

How Geointelligence Can Help Your Business
How Geointelligence Can Help Your Business

The United States Geospatial Intelligence Agency defines geointelligence as a process of obtaining and analyzing images and geospatial information in order to evaluate, describe and reflect geographically referenced physical characteristics and activities.

Computational Geontelligence

For its part, it should be noted that  behavioral geointelligence  is an integration of computer science and geospatial information science whose objective is to increase the capacities for data collection or mining and its processing through the study of classification, association, clustering and sequential patterns.

All this lead to the analysis, interpretation, evaluation and visualization of georeferenced data in order to incorporate it into knowledge discovery processes (KDD) or geographic information systems.

Objective of geointelligence

The primary objective of geointelligence is that, once all the data collected has been analyzed, this powerful tool provides the information necessary for decision-making.

Who uses geointelligence?

Today, the geointelligence area of ​​action is directly linked to real estate development, marketing (retail and mass consumption), politics, utilities  (detection of irregularities), security and defense and action of the government.

Through the use of this technology, there are multinational companies in both the automotive and financial sectors that have increased their sales. For their part, shopping centers can have a more accurate idea of ​​their clientele, since they would know, apart from their demographics, their creditworthiness and their consumption habits.

The same is valid for companies and groups of real estate developers who want to know the market before undertaking the construction of a housing development or a shopping center. The same would happen with a supermarket chain in the process of choosing locations for new locations.

Advantages of geointelligence

Regarding this last example, several studies have concluded that the large supermarket chains that made use of geointelligence to carry out their market studies obtained successes of the order of 90-95% in terms of their sales estimates. For their part, the same studies reveal that for those who have not used it, the percentage of correct answers is in the order of 70%. Likewise, thanks to its use, the detection of clients and irregular consumption has doubled.

The use of this technology becomes much more important if we take into consideration that year after year, the worldwide trend for the availability of land shows a sustained decline, generating, as expected, an increase in its price. This has the consequence that the margin of error when deciding on an investment decreases more and more.

That said, it is clear that geointelligence provides the opportunity, with great precision, to be at the right time in the right place.

What does geointelligence contribute?

The responses generated by this technology are aimed at providing very accurate information about:

  • What are my current and potential clients like and where are they?
  • Where should my next business location be?
  • How much will I sell if I find myself on this corner?
  • How does my new location affect my competition?
  • How does the new location of my competition affect me?

In making decisions regarding the location of a commercial development, two action scenarios are proposed:

  • Proactive analysis: I am going to find my geographical location.
  • Reactive analysis: they propose a geographical location.

In both scenarios, geointelligence systems as a technological tool allow making the best decision.

In what areas of business is it used?

Geointelligence is usable in different areas of business, and given the quantity and quality of information that this technology provides to market researchers and clients in general, the results are extremely beneficial when making the best decision.

The areas in which this advanced technology can be used are described below.

Real estate field

  • Search and research of available properties. Full access to the databases containing the offer and all the information about properties in the area where you want to invest facilitates the search and, of course, making decisions in this regard. This results in a better selection and evaluation of assets.
  • Financial analysis. This technology offers all the tools to perform a comprehensive financial analysis of each of the properties that meet the search criteria selected by the researcher, which offers as a result the visualization of unique investment opportunities.

Mass consumption and retail

–  Location of the best locations. Through the use of geointelligence, one has access to demographic data such as the resident and floating population, as well as their socioeconomic level, income, consumption habits and credit capacity of current and potential clients. In the same way, there is detailed information about competitors and commercial attractions in the area. Undoubtedly, all of the above has a great advantage when choosing the best location.

  • Optimization of the operation of the different stores and chains. Knowing the economic capacity of current and potential customers, in addition to their consumption habits, it is possible to adapt the management and operation of a business or chain to those realities in order to maximize profits.
  • Market cloning. It involves adopting or establishing an alliance with the original company in order to establish in one’s own country a business model, product or service that is working in other countries. In the event that there is a problem in a certain customer sector and there is an effective solution in another country or in another market, it would be feasible for it to be imported.

Infrastructure in utilities

  • Detection of irregular and fraudulent clients. Through the use of platforms designed to work with geointelligence in which general data, property information and owner description are combined, it is possible to identify relevant variables that favor the location of unenrolled, fraudulent and irregular clients, facilitating its commercial regularization.
  • Feasibility of services. Through the use of data related to the cadastre and the integration of critical variables, decision-making regarding infrastructure is greatly favored. These studies incorporate socioeconomic, environmental, demographic, commercial and legal variables, as well as planning and land use regulations in order to determine the feasibility of building power lines, water distribution networks, telecommunications …

Through the use of geointelligence, decentralization and speed in decision-making, targeting and use of resources, the control of activities and their monitoring are favored, among other very important aspects.

Marketing

  • Strategic information. It allows to know the habits and behavior of the clients generating information to facilitate commercial decision making. This by integrating and crossing internal variables of the companies, such as customer data, commercial behavior and key external variables such as commercial attractions, flow generators, potential spending, income, socioeconomic group, credit capacity, legal regulations, resident population and floating, security, concentration of companies, direct and indirect competition and density.
  • Generation of CRM ( customer relationship management ). Through the careful processing and analysis of strategic information that allows knowing and updating customer data, the implementation of a CRM is made easier to manage, more efficiently, everything that your relationship with the company entails.
  • Market cloningGeointelligence is a very powerful weapon when you want to expand sales by attracting new customers. Market cloning, in this case, basically consists of locating and identifying similar people in the current customer database. A profile is generated in terms of variables such as age, sex, profession, area of ​​residence, ownership of buildings and vehicles, and socioeconomic status. This analysis provides information on a group of people with a high probability of becoming successful customers in the future.

Government and public service

It allows the analysis of information on topics as important as health, education, demography in general and socioeconomics of the studied region, which allow and facilitate strategic decision-making for the optimization of resources for public organizations and territorial entities.

All of this applies both to the government’s administrative management tasks and in the security and defense area, in which, through the use of statistical analysis of georeferenced data to provide strategic and tactical information, important decisions are made in public safety and security. national defense.

Geointelligence in a business

All of the above demonstrates the power and great application possibilities of a tool such as geointelligence in business. Never before has there been the opportunity to have so much quality information to optimize operational processes and decision-making. Obtaining instant market information from any location has never been easier. Nowadays, those who do not use the benefits of this technology will be at a clear disadvantage compared to their competitors who do use it.