LONDON- Quantzig, a pure-play analytics solutions provider, has announced the completion of their latest article on the efficacy of geospatial analytics in providing insights into omni channel retailing.
Geospatial analytics is basically the use of “geo-referenced” data obtained through various modern technologies like location sensors or GPS tracking, mobile devices, and social media. Geospatial analytics can help build maps, statistics, graphs, and cartograms to make complex data relationships more understandable. This helps companies to anticipate and prepare strategies accordingly. Moreover, the use of advanced geospatial analytics can help retailers to quantify the actual economic value of each of their stores across various channels.
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“The omnichannel view of store performance allows each store to be rightly credited for both offline or online sale and gain total economic value of that store," says a retail analytics expert from Quantzig.
Continue reading to know more about the advantages of geospatial analytics or request a free proposal to know how our insights on geospatial analytics can help you.
Major benefits of geospatial analytics in omni channel retailing:
Know where your customers live, work, and shop
Geospatial analytics provides precise insights to companies regarding the geographical location of their customers. They also provide information about specific shopping habits and patterns. The information gained by the companies can aid them in making informed decisions when it comes to site-selection, marketing, and product assortment for specific areas. To gain more insights on the benefits of geospatial analytics for retail companies, Get in touch.
Determining store locations
Deciding the location of a store is a daunting task for many. Companies in omnichannel retailing require an understanding of factors such as competitive presence, potential customer demographics, and access to supply chains to decide which location would work the best for them. This decision involves intense planning and brainstorming as a wrong decision could cost the company a huge sum of money. To know more about the true benefits of geospatial analytics strategies, request for more information.
Making real-time decisions
Real-time decisions hold great value in omnichannel retailing. Furthermore, the use of data analytics provides up-to-the-minute data on customer and vehicle locations, assets, sales, and environments into maps and analysis. The data delivered helps companies to decide on the changes to be made for resource allocation on a real-time basis. To access the complete list of benefits of geospatial analytics, view the full article here!
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal