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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.

Geomarketing makes it easier for you to conduct market research, evaluate sales performance, run targeted marketing campaigns, and optimize logistics.

For years, the retail industry has relied on Annual Average Daily Traffic (AADT) to understand traffic around existing and planned locations. However, it is no longer an accurate measure as a differentiating indicator because there are now more reliable sources of traffic data available, such as DHT.

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.

Having route optimization software is the best way to solve the majority of problems encountered by last-mile delivery providers, whether in terms of efficiency, costs, or customer satisfaction.

If Census geographies are suspect and mobile movement data are subject to limited geographic extents and privacy, what’s the answer? The answer is to use both.

Several banking customer experience trends are likely to emerge and unfold over the next year to meet the changing needs of the public.

In February 2022, the US Federal Communications Commission set new guidance for delivering information regarding the availability of broadband internet services throughout the United States.

With the rise in popularity of online services, traffic analysis is becoming paramount for banks to make accurate financial forecasts and the best decisions about opening and closing branches.

Access to quality geospatial data and analysis of that data using a geographic information system (GIS) is critical to determining ideal sites for electric vehicle charging stations.

Insurers are increasingly embracing geospatial technology and, more specifically, hyper-precise insurance underwriting data and insurance geocoding systems to improve pricing policies.

With the fast expansion of the 5G network and the high demand for cell phones, carriers are looking to increase the capacity of their networks with location technology.

Aerial or satellite Earth observation imagery allows insurance companies to quickly and efficiently assess damage, identify fraudulent claims and save costs.

Foot traffic data contributes to the creation of a model for retail store success. It helps measure customer attraction, understand local demographics and the impact of competition.

Traffic analysis has many benefits, such as understanding sales performance and consumer behavior, as well as better competitive intelligence. There are several ways to use vehicular traffic data, which deliver accurate, comprehensive traffic counts.

How geospatial analytics can be leveraged to plan for the inevitable growth of the urban environment.

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.

Geospatial technology is a fundamental tool to understand the insights necessary for the effective management of fleets and the coming changes expected from autonomous vehicles.

Geospatial technology can be the critical element that provides superior customer service. Read how retailers have adapted during the pandemic.

Online retailers have the burden of assigning the right sales tax to each purchase—the task can be complex if you add local jurisdictions and tax district boundaries.

Current and accurate geospatial data provides the ability to mitigate risks associated with potentially hazardous situations in order to comply with regulatory guidelines.

The geocoding methodology and accuracy are critical to assess risk so that insurance policies may be correctly priced, and mortgages can be properly underwritten.

Mobile 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.

The future of 5G is intrinsically and inevitably tied to location technology. 5G technologies will allow several new use cases in various areas affecting consumers, businesses and governments.

Throughout the transportation and delivery industries, companies have to cope with drastically changing routing plans. With cities and towns under constant development across the United States, routes that were once speedy and efficient can suddenly be rendered slow and congested.

Learn how GIS improves fleet management and assists business organization in scaling their supply chain practices.

Korem’s HERE GIS Map Data allows insurance agencies to identify locations with high crime and flooding to minimize risks. Contact us today!.

Korem’s HERE Data applies to the banking and financial industry by using GIS data to keep track of branches, ATMs, and customers. Click to learn more!.

Korem’s HERE Map Data assists the telecommunications industry with marketing, customer service, capital planning, and more. Contact us today!.

Banks and financial institutions have an enormous opportunity to leverage location-based information to support marketing, compliance, strategic planning and operational tasks.

For utility and energy companies, location underpins virtually every facet of business, from planning and network optimization to operations and delivering a great customer experience. Unfortunately, exploiting the value of location or geospatial data is often left to back-office engineering functions.

Confidently creating winning pricing strategies, forecasting and executing is within your grasp with a personalized approach and the best mix of geospatial data, technology, and expertise.

Location data represents one of the critical success factors in the retail industry. Geospatial data and technologies are the foundation of retail success, from site selection to geospatial marketing to customer experience.

Location technology helps the telco industry in areas such as telecom network planning, sales and customer service. It enables better and smarter use of resources, which will guarantee customer satisfaction and make telco operators more competitive.

Read how geospatial technology and data are essential to insurance companies to better model risk, set accurate premiums, accelerate claim management and many more.

5G technologies will allow several new use cases in various areas affecting consumers, businesses and governments.

Everything you need to know about the insurance industry’s major – and essential – transformation.

Insurance is a promise to policyholders. It says, when something goes wrong, we’ll be there to help.