At the InsureTech Connect 2022 conference, I learned that the ecosystem for geospatial technology is growing, that the chasm between the need for highly accurate, up-to-date data is huge, and that users are staring into an abyss.
Currently, EV charging stations are popping up at hotels, malls, and restaurants. This is already transforming trade areas for both fuel retailers and the places where consumers stop for longer periods of time than they would to gas up their ICE cars.
DaaS addresses the challenges related to finding or sourcing third-party data, in this case, geospatial data. There are several key benefits of DaaS, such as the discoverability of available data, the ability to streamline procurement, the transaction-based data licensing agreement, and the access to the latest vintage and updates.
The confusing thing about Data as a Service, or DaaS, is that there are so many different kinds from which to choose. A solution provider that has the expertise to customize the technology menu to satisfy the entire banquet of business problems will likely be required.
Today, selecting “where” is the domain of the geospatial data scientists that have an abundance of information available to them. However, because the access to digital data is rich and vast, the competition is brutal.
The trade area definition hasn’t really changed, but the amount and variety of data available to create and analyze trade areas certainly has. Read more for today’s techniques and benefits of trade area analysis in retail.
The future of logistics real estate has been forever changed with the long-term structural growth rate rising. Adapting to the current environment will require commercial real estate companies to leverage technology in such a way that allows them to keep the same pace in the post-pandemic era.
Location technology has moved from being a useful tool to an indispensable solution. It impacts everything from the customer experience to inventory to e-
commerce and has become essential for buy online, pick up in-store (BOPIS) services.
Mobility data has tremendous potential and the COVID-19 era shed light on how more dynamic, more real-time data has been utilized. Users can now seek those additional applications of the data and technology.
Market research reports, like The Forrester Wave ™️, provide a starting point for organizations that are unfamiliar with location technology and present the best solution providers. However, companies searching for a complete “answer” to address different types of business challenges and use cases might be left with an incomplete perspective and miss vital elements of the full technology stack solution.