Location based analytics.
In the digital age, it’s easy to forget a timeless truism of brick and mortar success: Location, location, location.
Businesses such as telco’s and retailers need to know where their potential customers are, as well as where they will be over the entire lifetime of the investment they make in a physical space.
For this reason, businesses are increasingly turning to Big Data.
With smartphone penetration rates on the rise around the globe, the proliferation of location infrastructure are set to go mainstream. And by harnessing Big Data technology, location has the power to derive value from an increasingly complex data landscape.
Call me anytime! Smartphone penetration continues to rise around the world. (Source: http://wearesocial.com/special-reports/digital-in-2016)
In today’s mobile society, there is more location-based data than ever that is being generated by consumers and monetized by businesses. Nearly every available social media app today collects data from its users and offers that insight to advertisers.
As such, Big Data technology is quietly helping to revolutionize billboard advertising. Digital billboards generate high recall rates and positive reactions, a Nielsen survey shows. 75 percent of consumers who travel roadways with digital billboards can recall seeing one within the past month, and 55 percent of those can recall the sign’s message most of the time or every time they pass by. And this technology continues to advance. Advertising innovators have even begun combining smart billboards with Big Data analytics tools to adjust ads.
Honey, did you just see that? The digital signage market is growing rapidly as technologies continue to evolve that enable better support, performance, efficiency and more widely available audience metrics techniques.
Customer-focused providers such as telecoms know they must not only deliver personalized products and services to targeted segments, but also use the latest software-based advanced analysis tools to retain their best customers, identify new customers, and generate innovative opportunities to improve their competitive position.
As such, Big Data is tailor made for the telecommunications industry. Communications service providers have access to a wealth of information about their customers’ location and movements, behaviors and preferences that Big Data can process in real time, which is crucial to helping put these companies in prime position to win the battle for customers and create new revenue streams.
Specifically, an integrated Location Analytics platform gives decision-makers the tools to assemble, explore, and display wide-ranging datasets. Examples include location oriented data complied with usage behavior in omni-channel digital products and platforms, user device detection and user profiling. This information can then be mined to identify what motivates the user, as well as to decide when and where to display targeted ads on smart billboards. The exact, clear, sharp, advanced-level analysis inevitably leads to smarter decisions being made more quickly.
Big Data vendors providing such next generation analytics solutions such as SQream Technologies are thus empowering business leaders, data scientists, analysts and marketers in the telecom industry to attain massive value from their ever-growing data volume and drive new revenues and ROI.
Big Data is increasingly making it possible for the telecommunications industry to explore and integrate connections between groups of geographic data. The result is a growing ability to deliver a personalized, closely targeted product. Big data and advertising. Location intelligence and customer behavior, facilitated by Big Data technology, is now allowing companies to develop a highly detailed, real time, success map.