Retailers and their need for location intelligence
Location Intelligence (LI) technologies have been generating attention in the retail business for some time. The increased use of Internet of Things (IoT) devices and smartphones has contributed to the proliferation of LI among retailers. Multiple applications and mediums, such as retail site selection, targeted advertising, and client demographics, demonstrate the retail industry’s rising reliance on artificial intelligence (AI). LI can be defined as the capacity to attract business using precise location information. A trustworthy research report produced by a major corporation suggests that about 80% of the critical information held by various commercial organisations contains a significant location component. Using GIS-based tools and gis mapping solutions, you may extract useful insights from demographic data that reveals the relationship between people and location.
The footfall study
Foot traffic, often known as footfall, refers to the number or quantity of website visits. By conducting footfall research, both brick-and-mortar retailers and prominent e-commerce brands can get valuable customer insights. Footfall analysis is predicated on the evaluation of the foot counts that enter a given store. You can also include a few other factors, such as the amount of time spent in the store, the conversion rate from the time of admission to the time of purchase, and clusters. You can compare these insightful observations with those of your competitors to acquire an advantage in the competitive business market. Using powerful gis mapping tools and mostly mobile location data, you can quickly assess your competitors’ foot traffic. You can also validate identified visits, which may not be entirely correct but can still provide an overview. There are a variety of expert firms that can provide you with sophisticated gis mapping solutions and services to extract foot traffic data.
IoT, indoor mapping, and gis mapping solutions
IoT devices, also known as Internet of things devices, allow you to monitor, gather, and disseminate information. IoTs can be viewed as the hardware that enables accurate footfall and mobile location data collection. You may also utilise the services of efficient gis mapping solutions to conduct an accurate analysis of foot traffic. The Internet of Things sensors allow you to monitor client data and provide push notifications based on the proximity and location of the devices. This IoT is evidently compatible with geo fence solutions. With the use of powerful gis mapping technologies and RFID technology, this enables you to successfully construct a virtual barrier. You can also send IoT-enabled push alerts to entice and encourage passersby to visit a local retail establishment. Throughout the entire delivery process, RFID and gis mapping solutions assist numerous brands in tracking their own inventory for various commodities. Numerous top-tier businesses provide their customers the ability to scan QR codes on product tags for further information and self-checkout.
As technology continues to advance, it is evident that the retail sector is also modernising. With additional emerging trends and technology on the horizon, it is anticipated that the retail business will continue to expand.
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Lucidpath is renowned for creating creative business solutions by giving our global clientele with result-oriented business process automation tools and methods. As the most reputable provider of gis mapping solutions in India, our expert team offers you effective technological solutions for expanding your organisation. As the leading provider of GIS mapping solutions in India, we consistently strive to provide our clients with the very best. We value timely technical solutions and make every effort to work accordingly. We differ from other businesses in that we never compromise on the quality of our work and constantly endeavour to give the best services possible.
