||It has been suggested that Spatial intelligence (business method) be merged into this article. (Discuss) Proposed since April 2012.|
Location Intelligence is the capacity to organize and understand complex phenomena through the use of geographical relationships inherent in all information.
The optimal location for any business is one that supports workplace success and addresses a variety of customer and financial objectives. Location Intelligence streamlines business processes and identifies unique geographies for winning market share in the B2C (retail and site selection analytics) and B2B (corporate real estate location advisory) business models. The goal of location intelligence is to select the best “geographies of opportunity” by providing a fit-to-purpose spatial analytic solution.
Deploying location intelligence by analyzing data using a geographical information system (GIS) within business is becoming a critical core strategy for success in an increasingly competitive global economy. Location or GIS tools enable spatial experts to collect, store, analyze and visualize data. Location intelligence experts are defined by their advanced education in spatial technology and applied use of spatial methodologies.
Location intelligence experts can use a variety of spatial and business analytical tools to measure optimal locations for operating a business or providing a service. Location intelligence experts begin with defining the business ecosystem which has many interconnected economic influences. Such economic influences include but are not limited to culture, lifestyle, labor, healthcare, cost of living, crime, economic climate and education.
The term Location Intelligence is often used to describe the people, data and technology employed to geographically “map” information. These mapping applications can transform large amounts of data into color-coded visual representations that make it easy to see trends and generate meaningful intelligence. The creation of location intelligence is directed by domain knowledge, formal frameworks, and a focus on decision support.
In 2012, Dr. Wayne Gearey from the commercial real estate industry was selected to offer the first applied course on Location Intelligence at the University of Texas at Dallas. In this course, Dr. Gearey defines location intelligence as the process for selecting the optimal location that will support workplace success and address a variety of business and financial objectives.
Today, Location Intelligence is used by a broad range of industries to improve overall business results. Applications include:
- Communications & Telecommunications: Network planning and design, boundary identification, identifying new customer markets.
- Financial Services: Optimize branch locations, market analysis, share of wallet and cross-sell activities, mergers & acquisitions, industry sector analysis, risk management.
- Government: Census updates, law enforcement crime analysis, emergency response, environmental and land management, electoral redistricting, tax jurisdiction assignment, urban planning.
- Healthcare: Site selection, market segmentation, network analysis, growth assessments.
- Higher Education: Student Recruitment, Alumni & Donor Tracking, Campus Mapping.
- Hotels & Restaurants: Customer profile analysis, site selection, target marketing, expansion planning.
- Insurance: Address validation, underwriting and risk management, claims management, marketing and sales analysis, market penetration studies.
- Media: Target market identification, subscriber demographics, media planning.
- Real Estate: Site reports, comprehensive site analysis, retail modeling, presentation quality maps.
- Retail: Site selection, maximize per-store sales, identify under-performing stores, market analysis.
- Transportation: Transport planning, route monitoring.
- K-12 : School Site Selection, enrollment planning, school attendance area modification (boundary change), school consolidation, district consolidation, student achievement plotting.