Data at Work

The world of data and its many applications. This blog will help you learn how visionary companies are utilising external data to enhance business operations.

How retail banks increase their competitive edge with location intelligence

Similar to other industries, financial services have been leveraging mobile location data to improve its operations and services.

Investment firms analyse mobility data in conjunction with POI data to forecast revenues for various retail outlets. This enables these companies to determine which businesses will deliver a good ROI.

Retail banks utilise location data in a number of ways. An important application includes limiting or preventing fraudalent transactions. Retail banks compare the IP address of a Point-of-Sale (POS) with the GPS coordinates provided by a customer's phone to prevent credit card fraud.

Banks rely on location intelligence to drastically improve the experiences they provide their customers. Here are three examples of how retail banks can use mobility data to enhance customer service and increase competitiveness. 

In each example, anonymized mobility data around Downtown Los Angeles between 1 October 2016 and 31 October 2016 was used.

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Preview: The big book of mobile location data use cases and applications

To increase operational efficiency and maintain a profitable business model, businesses must gauge the performance of various processes and identify focal points that require change and strategic innovation. Business leaders must also develop a firm understanding of consumers and prospects, at scale, so that they can create effective marketing campaigns with broad appeal. Mobile location data is a powerful tool that helps companies achieve these objectives across business verticals by providing meaningful, actionable insights.   

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Analysing mobility patterns for post-pandemic urban planning

Every city in the world has a particular cadence: a rhythm and pace established by the movement of its people over an extended period. Analysing this movement reveals vital information about a city’s predominant economic activities and social dynamics – among other distinguishing traits. A great way to analyse such movement is to leverage mobile location data.  

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How retailers can improve marketing ROI with mobile location data

For businesses of various scales across a range of industries, the fundamental goal stays the same: to increase profit while keeping costs to a minimum. Location data, already utilized by marketing teams and agencies, can help increase the ROI when it comes to marketing. 

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Your blueprint to harnessing mobility & POI data for location intelligence

Location data has proven beneficial in solving various business and social problems. Researchers and analytics firms leverage location intelligence to identify target audiences for businesses, measure ROI of operational spend, assess competition, and address grave issues like climate change, social inequalities, and human migration. In reality, most business models in delivery, transportation, navigation, healthcare, and real estate depend on location data for day-to-day operations.

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