The Future of Business Intelligence: Innovations in Location Intelligence
- Date: 2010-11-13 - Word Count: 518
Share This!
In the coming years, many business analysts are predicting that Business Intelligence (BI) will play a central role in the success of a multitude of different types of businesses. This is due to the fact that more businesses are recognizing the benefits of spatial data analysis in making smarter business decisions. Employing business intelligence solutions provides such benefits as: identifying the location of targeted customers, understanding customers better, reaching targeted customers, optimizing business operations, managing revenue more efficiently, minimizing risks, and forecasting potential problems. Because of changing consumer lifestyles that now includes incorporating technology in their daily lives, the future and innovation of location intelligence is expected to focus on such technological innovations as the internet and mobile technology such as iphones. The result of utilizing location intelligence solutions in a world where technology is now a part of nearly everybody's life is greatly improved business performance.
Businesses use location intelligence solutions to gather, organize, and analyze consumer data through the use of geographic patterns and relationships. Because consumer trends are shifting to using such technology as the internet, iPhones…etc, on a daily basis, business intelligence teams must now harness the opportunities this technology has created in order to improve their marketing strategies and reach their targeted market. In addition, the changing economic environment has resulted in diminished marketing budgets which have made the development effective and successful marketing strategies even more vital.
Today the internet has created a world wide market that does not have any geographical boundaries. For instance, it has been estimated that 1 billion people will access social networks by the year 2014 and most of the users will use a location based application. Businesses now have the ability to communicate directly with their targeted customers and meet their demands in order to gain a competitive edge. As well, marketers will be better able to identify current consumer trends and forecast future trends. It will also help them create and implement more effective business strategies that have a better chance of achieving success. A business will be able to better understand customer behavior, recognize and take advantage of unexpected opportunities, and predict problems before they occur.
Social computing, cloud computing, and mobile computing, are now a part of most people's daily lives. Future innovations in location intelligence will allow companies to harness these technologies to develop effective strategies to reach their customers. For instance, taking advantage of consumer driven technological applications will involve incorporating such areas as marketing, product promotion, customer loyalty, point of purchase…etc., into these applications. As well, using Real-Time Business Intelligence to gain instant information will become essential to achieving success.
Because of the emergence of huge spatial data sources such as Google maps, more consumers are adopting location based applications such as iPhone Apps, businesses must now engage in innovative thinking to capitalize on the data. In the future, technological advancements will result in business intelligence undergoing a fundamental shift that will revolutionize the way business decisions are made. Businesses who do not embrace this shift will definitely be at a serious disadvantage when trying to succeed in such an intensely competitive world.
Businesses use location intelligence solutions to gather, organize, and analyze consumer data through the use of geographic patterns and relationships. Because consumer trends are shifting to using such technology as the internet, iPhones…etc, on a daily basis, business intelligence teams must now harness the opportunities this technology has created in order to improve their marketing strategies and reach their targeted market. In addition, the changing economic environment has resulted in diminished marketing budgets which have made the development effective and successful marketing strategies even more vital.
Today the internet has created a world wide market that does not have any geographical boundaries. For instance, it has been estimated that 1 billion people will access social networks by the year 2014 and most of the users will use a location based application. Businesses now have the ability to communicate directly with their targeted customers and meet their demands in order to gain a competitive edge. As well, marketers will be better able to identify current consumer trends and forecast future trends. It will also help them create and implement more effective business strategies that have a better chance of achieving success. A business will be able to better understand customer behavior, recognize and take advantage of unexpected opportunities, and predict problems before they occur.
Social computing, cloud computing, and mobile computing, are now a part of most people's daily lives. Future innovations in location intelligence will allow companies to harness these technologies to develop effective strategies to reach their customers. For instance, taking advantage of consumer driven technological applications will involve incorporating such areas as marketing, product promotion, customer loyalty, point of purchase…etc., into these applications. As well, using Real-Time Business Intelligence to gain instant information will become essential to achieving success.
Because of the emergence of huge spatial data sources such as Google maps, more consumers are adopting location based applications such as iPhone Apps, businesses must now engage in innovative thinking to capitalize on the data. In the future, technological advancements will result in business intelligence undergoing a fundamental shift that will revolutionize the way business decisions are made. Businesses who do not embrace this shift will definitely be at a serious disadvantage when trying to succeed in such an intensely competitive world.
A geocoding software and address verification software can be tailored to the demands of large organizations. It combines modern technology with geographic coordinates systems to deliver solutions to business obstacles.n
n Your Article Search Directory : Find in Articles
Recent articles in this category:
- Fix Printer, Keyboard, Speaker and Monitor Cables With Funky Organizers
There are different types of cables that are used when you have a desktop computer at home. Most of - The Growing Trend of Asterisk Phone Systems
Truly, businesses are doing everything they can in the economy and competitive world of today to rem - Adobe Photoshop Album Starter Edition and What Happened to the Unlock Codes
Adobe has long been known as a star in the digital image editing world and the Adobe Photoshop Album - Choosing the Best Computer For Graphic Design
In the 1980s, desktop publishing came out and graphic designers began to utilize computers for all k - Versatility of Pocket HD Camcorders
In the era of the do-everything handheld gadget, high def camcorders family seems almost passee. The - Contemporary Office Furniture
When considering Contemporary Office Furniture there are a few things that you really should conside - Professional Web Design, Professional Web Designer
There is a lot to consider if you are looking for a Professional Web Design. So let's get to it. Fir - Cell Phone Protection and Safety For Kids
If your like the millions of parents giving your children a cell phone for safety when their away fr - Looking For That Smart Pc Workstation And Desk
Do you need a work area at home. Maybe it is just for doing bills. It may be for a community work ar - What is the History of ISP?
Considering the ubiquity of the internet it's kind of funny that so few people know much about its s
Most viewed articles in this category:
- Voip Residential Comparison Guide: Evaluating Packet8, Lingo, And Vonage
Voice over internet protocol [internet telephony] is a rapidly growing technological alternative to - What's The Difference In The Ionic Breeze Quadra?
The Ionic Breeze Quadra is the newer line of ionic breeze units offered by The Sharper Image. These - Selling World of Warcraft Accounts
Everybody knows that WoW is one of the most exciting MMORPGs ever created. This makes selling WoW ac - Film Cameras
Film cameras are simple cameras, which could be used by all easily. People prefer to use film camera - Salesboom SLA-MS Competition
Oh, the irony. Online CRM Services shy away from offering customers a Service Level Agreement. Why t - How To Improve Your Computer Speed Almost Instantly
Probably your computer, even though you bought it last year its no longer that much fast. Like any o - The Mosquito Ringtone - The Tone Adults Can't Hear
Without a doubt, the mosquito ringtone is one of the most popular ringtones ever. Good luck trying - Auto Navigation Systems And Gps Technology While Traveling
If you have managed to do any research on auto navigation systems I'm sure you've come across countl - Do Cheap iPods Really Exist?
If you know anything about music trends, you know that iPods are the hottest portable music device t - Online Mobile Phone Offers: Take 10 Minutes To Save £360 On Your Next Mobile Phone Contract
Cash Is Falling Out Of Your Pocket If you live in the UK, you're probably paying line rental on a m