Location Analytics
How consumers benefit from business analytics
Location analytics is a means the company uses to get information useful in their business from the geographical locations targeted. All elements of business exist in a certain location at a certain time. Companies can utilize location analytics to help them comprehend how all elements of businesses interact with each other. This way, they get to understand their potential clients, as well as a means to optimize their supply chain. This way, they can provide consumers with quality products that will certify their wants and needs more efficiently.
How location analytics boosts customer satisfaction
Through locational analytics, a company can increase customer satisfaction and strengthen customer relationships. The company can identify the locations of the customers. From then, they will strategize on the most efficient way to deliver the products to the market efficiently. For instance, the company can decide if, according to the location of clients, whether they can offer free home deliveries or at a price, etc. customers get to benefit from location analytics in that they can easily access the products whenever they need them. This boosts customer satisfaction.
Improves on quality
Location analytics also helps a company to choose its suppliers effectively. A company can understand the type of suppliers that exist in a certain location and the quality of products they offer and also considering their prices. This information allows the company to decide if it is easier to source products from outside the area or from local suppliers. Deciding to choose a supplier with a high-quality raw material is a benefit to customers because they will attain a quality end product. Also, sourcing locally reduces the prices of goods as the company does not have to transfer some costs for customers to bear.
Understanding the type of customers
Locational analytics allows a company to understand the type of customers’ existing in a certain location. It can understand the characteristics of the market, in terms of age, religion, beliefs, etc., and this determines the goods the company needs to provide. This is quite beneficial to the consumers because the company will provide products that match their needs and do not go against their cultural or religious beliefs. Take, for instance, in India, a company that analyzes the market using locational analytics will understand that Indians not to appreciate meat, and instead, it will provide a lot of vegan dishes and spicy foods. Also, a business person can understand the products that are missing in a certain location and focus on providing them. Customers will benefit from this in that the market niche which existed will be closed, and more of their needs are satisfied.