As the amount of information generated by businesses continues to increase at a rapid rate, many analysts are turning to geospatial data to increase accuracy and collaboration, according to Midsize Insider.
Instead of simply worrying about the "what" aspect of their data, companies are increasingly concerned with the "where" it represents. Location-based information has not always been considered in the corporate big data revolution, but is seeing increasingly adoption as businesses look to get a handle on their customers.
Computerworld reports that the blending of geospatial data with traditional business analytics has helped some companies work to gain a competitive advantage. One such market that benefits from this is commercial real estate, where companies can take advantage of geographically-sorted data on factors such as average household income, traffic patterns and retail competition in the area.
Some simple, trivial notions that would rarely have been considered – yet can have massive impact on success – are discovered daily throughgeospatial solutions.
"[Grocery store chains] have found that some people just won't cross certain railroad tracks, impacting the sites overall draw," the head of such company told Computerworld
Computerworld notes other industries where the data can have a major impact, such as civil engineering and humanitarian causes.
