Location Intelligence is a hot topic these days as demand grows, providers continue to enter the market, and location privacy sensitivity hits historical peaks. Growing demand results from not just greater need for location intelligence but also broadened areas of applicability.
In other words, beyond the advertising uses for location intelligence (ad targeting, attribution, etc.), it’s being applied to other areas of enterprise support. That includes everything from supply chain management to deciding where you should open your next store location.
“When you look at ad tech and sales and marketing, that’s where the money is now,” said Mike Davie, CEO of location Intelligence company Quadrant on the latest episode of Heard on the Street (episode above). “But we are seeing people get more sophisticated with use cases like infrastructure development [such as] where to put high-speed trains by analyzing migration between countries. They’re making billion-dollar infrastructure decisions based on ground-level information. … So we see interesting cases from where to put storefronts, where to put public infrastructure.”
Regardless of this breadth of applicability, Davie advises brands to zero in on their specific goals and how location data can help. That may sound obvious, but many companies put the cart before the horse in applying location data to their product strategies more generically.
“The first thing is to understand what your use case is and what are the metrics that are going to solve that,” he told us. “We find that a lot of companies don’t understand that yet. What is the problem they’re trying to solve and what would the data have to look like for them to solve it? That’s the first thing they should sit down and think about… From there, it’s about seeing what provider can actually provide that data.”