When employing data that has a geographical component, location technology helps you to make use of space, place, time, and geography to make better judgments.
Location is crucial when choosing a site for a new business or real estate development. The location has an impact on business decisions in 82% of cases. A platform for data that focuses on spatial data is called a location data platform. This platform delivers spatial awareness, geo-processing, and other functions across a variety of platforms and devices, in contrast to a traditional desktop information system. You can offer far more value to your company by implementing a location platform than just desktop GIS. The factual information needed to base decisions on location data analysis is provided by location data.
What is Location Data?
Location data also referred to as geographic information or geospatial data, is information about things or features that are present in a geographic space or horizon. Location data can be divided into two categories: vector data and raster data.
Vector Data: In geographic information systems, features like towns, highways, mountains, and waterbodies are represented using the vector data type, which combines points, lines, and polygons.
Raster: In this format, spatial details are represented by cells. Remote satellite data is one illustration.
How Geographic Information Improves a Dataset and your Analysis?
Relate data points to physical boundaries: Suppose you collaborate with locals to examine waterfowl sightings in watershed basin regions. You’re interested in knowing how many birds were observed in each specific watershed. To find the answer and conduct further analysis, you can combine location data from bird observations with watershed boundaries using spatial joins, a feature offered by some analytics solutions. You already have polygon data outlining the locations of watershed basins and point data recording waterfowl sightings.
Combine chart formats for quick comprehension: A pie chart and a map can both show percentage analysis across regions. This can be helpful if you work in sales as you assess the relative sales volume in different regions and how that affects profitable or unprofitable businesses.
Create a narrative with dashboards: By combining maps with time trends, other charts, and predictive analytics, you may find patterns, improve forecasting, and make it easier for users to spot outliers.
When properly examined, location data is an enormously valuable resource. The first step is to select an interactive platform that offers the highest level of governance, flexibility to use different sources, custom filters, and the capacity to conduct a wide range of analyses. Before selecting the platform that best meets your demands, does your research and lists the essentials so that you are aware of both the opportunities and obstacles that may arise. And ultimately, when you combine location data with all of your other crucial information, you’ll find significant tales and strong insights.
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