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 geographic locations. It helps businesses identify market opportunities, optimize operations, and make informed decisions by integrating location data with other business intelligence. This approach can reveal patterns and insights that may not be visible through traditional data analysis.
How can businesses leverage mapping and spatial analytics?
Businesses can leverage mapping and spatial analytics to enhance various aspects of their operations, such as site selection, supply chain management, and customer engagement. For example, a major fast-food chain uses location data to optimize drive-through locations and manage supply chain risks, resulting in average annual sales of $9.3 million per restaurant. This data-driven approach allows companies to adapt quickly to changing market conditions and customer preferences.
What are the implications of ignoring location in business strategy?
Ignoring location in business strategy can lead to missed opportunities for efficiency, increased risks, and ineffective marketing. Companies may struggle to identify growth areas or understand customer demographics, ultimately hindering their ability to adapt to market changes. By not incorporating location intelligence, businesses may fail to uncover valuable insights that could drive growth and innovation.
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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