Do you ever feel like you are being followed?
But in a good way?
With the latest advancements in geospatial analysis software it can seem at times like the retail stores, restaurants, and businesses that you like the most know your every move. Each time that you check in on social media, however, and request a search engine result you are alerting local merchants and retailers of your location. And while the spatial data analysis process can seem a little overwhelming at first, the fact of the matter is many consumers benefit from coupons and offers that they otherwise would not know about while they are traveling or shopping. The fact that you are texted a 15% off coupon when you walk past a shoe store that you sometimes frequent serves as an invitation that you otherwise would not have known about.
Location intelligence companies are part of what drives today’s economy. From marketing techniques to social media posts, today’s marketing analytics services and geospatial analysis software options provide a much more direct advertising approach than methods were used in the past.
Are You Connected to the Internet of Things?
The Internet of Things refers to devices, other than computers, that are connected to the Internet and can receive and send data. Though it only began gaining wide currency more recently, the term has been around for more than 15 years. It is the connection that allows you to start your car from inside your office from your phone. It is the connection that allows you to check, and shut if needed, your garage door when you are away from home. As more and more Americans use their devices to make sure that they are connected to every aspect of their lives, it should come as no surprise that more and more merchants, through the use of geospatial analysis software and other platforms, will also use these devices to specifically market products to their current and potential customers.
Consider these facts and figures about the implications of the various location intelligence solutions and the effect that these platforms have on the nation’s economy:
- Although today there are more than 30 GPS satellites when you count the spares that are not in use, there are always at least 24 active GPS satellites circling Earth.
- A GPS receiver can determine the current time within 100 billionths of a second. This technology is used to match a customer’s current location so that nearby merchants can send out offers and updates.
- The satellites travel 12,500 miles, or 20,000 km, above Earth at roughly 7,000 miles an hour, or 11,000 km per hour), enabling these GPS satellites to travel around the world once every 12 hours.
- The Geospatial industry generated $73 billion in revenue in the year 2011 and helped generate $1.6 trillion in revenue for the rest of the U.S. economy.
- The geospatial analytics market will grow from $27.42 billion in 2015 to a whopping $72.21 billion by the year 2020, according to a recent report by MarketsandMarkets. This represents a 21/4% compound annual growth rate.
The next time you are out shopping, make sure that you are checking in with your mobile device and social media platforms so that you can get updates that can help you safe both money and time1
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