As a proxy for human mobility within the physical world, raw location data provides unparalleled insights into people’s behaviors and needs. Businesses harness such intelligence to boost performance while governments and non-profit organizations leverage it to execute people-centric development programs.
However, the location data industry is teeming with issues (obscure supply chains, poor quality control, inflexible business practices, an abundance of non-compliant data, etc.). These factors make it extremely challenging for data scientists and analysts to generate actionable intelligence.
We’ve crafted a solution brief that details all these problems and elaborates on how Quadrant is solving them through our industry-leading location data offering. The brief also contains use cases and customer success stories with proven results for various use cases.
Problems inherent in the location data industry
Location data supply chains are murky. Most vendors do not disclose the underlying technologies they use to build their datasets. Consequently, buyers cannot be sure if the data is suited to their specific needs.
Additionally, even though data-privacy frameworks are in effect across most jurisdictions, the datasets most providers offer are riddled with non-consented data – thereby exposing customers to dire financial and legal consequences.
Most vendors in the location data space are rigid! They offer entire feeds or long-term subscriptions only. This inflexibility restricts the ability of smaller businesses to generate mobility insights. Moreover, location data feeds are inflated with large volumes of duplicate and overlapping records. As a result, businesses are vulnerable to producing false insights from expensive, poor-quality data.
Other key issues include fluctuating data counts, poor coverage for rural and sub-urban settlements, and lack of in-house support.
In this solution brief, we provide more detail on these issues and explain how Quadrant's location data offering tackles them effectively - thereby allowing businesses and governments to reap the rewards of better decision-making.
Generating actionable business intelligence
Business Intelligence (BI) and data visualization firms are utilizing mobility data to generate manual reports and power self-service analytics platforms. As a result, they are able to deliver reliable audience intelligence to their customers at the macroscopic (country) and (microscopic) neighborhood level. Businesses leverage these critical insights to gauge ROI for points-of-sale, inform product strategy, identify market opportunities, and more.
Improving marketing ROI
Consumer analytics firms harness location data to improve marketing ROI for their clients through several methods.
Analyzing footfall data for retail brands and correlating the resulting mobility insights with information from surveys and loyalty programs allow such companies to develop consumer profiles. As a result, their customers are able to conduct targeted campaigns that better engage existing customers and poach buyers from competitors.
Consumer analytics businesses also correlate footfall data around clients' outdoor media assets with foot traffic at said customers' brick-and-mortar stores - which allow the latter to gauge ROI on otherwise hard to measure offline campaigns.
Making public transit more effective
Transit consultancies leverage location data to study large-scale movement patterns - which, in turn, allows them to identify and address evolving public transportation needs. Through mobility analyses, transport economists are able to determine the gap between transit supply and demand, pinpoint underserved communities, and highlight areas that stand to benefit the most from micro-transit solutions. These insights are detailed in reports that allow local governments to secure federal funding to redesign their public transit networks.
For more details on our location data solution and relevant use cases, download the full solution brief