A New Perspective

A recent PwC report on the insurance industry has me thinking. The report outlines how Big Data and smart analytics can be used to generate business insights. More specifically, insights which lead to scenarios enabling the development of solutions which generate value.

Gone are the days when businesses thrive by developing products, push these into markets and simply return results. Increasing levels of customisation mean that businesses need to tap into this customer / user trend and deliver meaningful value.

The volume of data being generated by customers and business processes is growing exponentially, this is valuable data which contains useful insights. Michael Porter outlined in his seminal work Competitive Advantage that primary advantage is gained from either cost or product differentiation.

What if we added data insight as a third factor?

This means that seemingly meaningless data is mined and the findings built into the business process. In common practice this means looking at data in unusual ways, using tools not commonly brought into strategic discussions. One such tool is Geospatial Technology.

Geospatial aka “mapping” platforms provide the strategist the opportunity to view data in new ways. The ability to overlay data such as traffic flow, demographic information, disposable income levels, etc, opens a window to generate insights previously invisible. Data which has or shows potential to have a geospatial element can be viewed and manipulated using a geospatial modelling platform such as MapInfo Professional.

The team at Spatial Insights are able to scope any data available which has been generated by value producing processes and assess potential for real insight opportunities. If you have good data, we’ll model it and generate insights. By good data, we mean any data which possesses geospatial or geographic elements.

If you think there is something missing in your decision making and you need a new perspective, give the Spatial Insights team a call.

The Art of Geocoding

At Spatial Insights we talk a lot about data, and the accuracy of data.  And the sources of data.  And of course, the accuracy of the sources of data.  The lower the integrity of the data, the higher the margin of error, and the lower the chances that any insights derived are valid and authentic.

The chosen method of data collection is a critical tool in the armoury of good data quality.  And the data collected, specifically the written description of the physical street address, which more often than not is captured by employees with lower literacy levels, forms the basis of any Spatial Analysis. 

In order to gain any geographical insight, data needs to be geocoded.  This places each record’s location on the map as per the physical street address of the record, in the form of latitude and longitude. 

Remember, garbage in, garbage out.

Mapmarker, a stand alone geocoding tool, automates the geocoding process, and an accuracy hit rate is generated, which provides confidence levels of data accuracy. 

julia@spatialinsights.co.za

Data Visualisation Solutions

Geocoding

Approximately 85% of all databases have a geographic element.  Geocoding is the process of assigning latitude and longitude (x;y coordinates) to individual records of a database.  Through this process is geo-spatial analysis enabled.

A geo-coded database can be analysed within the electronic geo-spatial environment against other relevant sources of information based on its geography.

Geodemography

Geographic areas can be defined and profiled within a GIS (Geographic Information System) in terms of the area’s demographic breakdown ie age, race, gender, education levels, occupation, or lifestyle of consumers in order to provide marketers with insights into catchment areas.

Retail / Commercial Feasibility

When identifying potential new markets, the optimal location will deliver success.  Maximise profitability by understanding potential market size, disposable income levels, geodemographic profile of potential business location, and location of competitors.

Product Development

Analyze trends and purchasing activity within markets in order to provide predictive analytics within differing market profiles.

Distribution & Logistics

Optimise your distribution strategy within the geo-spatial environment.  Geographic information enables logistic optimisation, and DriveTimeZa provides the technology to maximise efficiencies of time and distance to maximise cost efficiencies.  The spatial environment also provides geographic parameters for routing in terms of distribution vehicles utilised, distribution loads, size and quantity of product, required delivery turn around etc.

Advertising & Marketing Geographics

With in excess of 15 years experience in Geographic Media Analytics, Spatial Insights is poised to enable you to answer the up-until-now unanswerable: “ Í know half of my advertising budget is working, i just don’t know which half”

Geographic marketing is critical to defining and reaching segmented target markets for geographically based products or services.

Media Analytics

Once you know where your consumers are, then you will know how best to communicate to them.  Media spend can be analysed against market potential, and effective reach of target market.  Accurate and realistic ROI levels can be at the planning stage or post-campaign.