The Missing Piece In Your Competitive Strategy-and Its Impact On The Bottom Line
Strategy and execution are only as strong as the insights that guide them. This article outlines how your company can use location intelligence to find operational efficiencies, drive customer engagement, and outmaneuver competitors. Read it for practical examples of what's possible when location is factored into the equation. Connect with COR Concepts to discuss how a location-aware strategy could improve your results.
What is location intelligence?
Location intelligence refers to the use of mapping and spatial analytics to understand and visualize data in relation to geographical locations. It helps businesses identify market opportunities, assess risks, and optimize operations by integrating location data with other business intelligence. This approach allows companies to make informed decisions about where to expand, how to improve customer engagement, and how to streamline supply chains.
How does location intelligence impact decision-making?
Location intelligence enhances decision-making by providing insights into customer behavior, market trends, and operational efficiencies. For instance, businesses can analyze demographic shifts, spending patterns, and local competition to determine optimal locations for new stores or services. Companies that leverage location data often find it essential for assessing risks and identifying growth opportunities, ultimately leading to more effective strategies.
What are the practical applications of location intelligence?
Various industries are utilizing location intelligence to reshape their operations. For example, a major fast-food chain uses location data for site selection and supply chain management, resulting in average annual sales of $9.3 million per restaurant. Similarly, a large apparel company employs mapping analytics to streamline its global supply chain, reducing reporting times from six months to mere days. These applications demonstrate how location intelligence can transform business processes and enhance performance.
The Missing Piece In Your Competitive Strategy-and Its Impact On The Bottom Line
published by COR Concepts
COR Concepts provides Information Governance, Records Management and Enterprise Content Management (ECM) consulting and training services. The company is built on the belief that any Information, Records or Document Management initiative should be designed to extract the maximum business benefit for the organization.
We bring together Compliance, Risk Management and Operational information requirements in a way that delivers benefits to each one of these diverse business units. Our approach is to use an array of industry standards and best practice methodologies to ensure that each implementation will stand the test of time.
We see information governance and records management as an integral part of any Enterprise Content Management implementation and focus on building a solid platform including a records management policy, records management procedures, file plans and a solid change management infrastructure. Building and implementing governance structures is becoming essential for success and we design structures to ensure that all governance aspects are included.
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