The ever-growing usage of mobile phones and the constantly rising screen time provides marketers with more and more data for decision making. Location is one of the key pillars on which marketers build their digital marketing and offline campaigns. Plotted on the map this data is often referred to as Spatial or Geospatial Data.
Spatial data can be described as information about a physical object that can be represented by numerical values in a geographic coordinate system. Spatial data is a component of many other kinds of data related such as Mapping Data, Mobile Device Location Data, Socially-Enabled Platform Data etc… This kind of data enables marketers to gain deeper insights with regards to the location of their customers, retail stores, daily business operations, customer interactions and financial transactions.
Increasingly a growing number of businesses is using Spatial data in building their competitive advantage and tailoring their marketing mix.
The following are some of the advantages of using Spatial Big Data;
A More Transparent and Enhanced Information Stream
In the industries that still maintain a large amount non-digitized records (i.e. the healthcare industry) spatial big data is especially important in filling some of the missing pieces for enhanced decision making while full set of business data is being digitized.
Enriched Market Segmentation
Mixing spatial data with traditional data enables marketers to take advantage of location intelligence tools which can be used to aid their segmentation efforts. In other words, without the usage of spatial data marketers can cluster their target audiences according to traditional data such as page views, email opens, etc… By using spatial data marketers can segment their customer base by adding a location dimension such as orders per location, email clicks per region, etc…
More Effective Marketing Campaigns
Using spatial data while constructing digital marketing campaigns drives effectiveness and efficiency in marketing programs. Tailoring the marketing mix to target customers using their location data will increase conversion rates of these offerings. For instance, when a potential sneaker buyer searched ‘running shoes’ on Google in Manhattan via mobile device, a sneaker brand that has a store in Manhattan can direct this potential buyer directly to the store by using the location extension in their adwords campaign. If this brand didn’t use location data of the searcher then it might direct him/her to their website instead which might result in a lost sales opportunity.
Improving Omni-Channel Customer Experience
The usage of spatial data in business operations will improve omni-channel experience in the following ways: ensuring service availability, reducing service time latency, customizing location based inventory, understanding nearby consumer habits for specific products and services and optimizing service experience at each location.
Here at Exastax we will build products that can help you uncover hidden insights in your spatial data. To find out more how Exastax can help your business in Spatial Data, fill in our short contact form.