In order for organizations to act strategically, innovate, and stand out in the market for all of the right reasons, they must make smart, effective decisions based on a solid foundation of valuable data. Without access to quantitative data indicating what’s working and what isn’t, decision making is done blindly and without direction. Furthermore, raw data must be transformed into actionable insights. It is not sufficient to have a set of spreadsheets that none of your key stakeholders or decision-makers understand - it must be transformed into meaningful information that enlightens and empowers.
This is especially true of location data, which is not particularly meaningful or helpful in the form of coordinates in a spreadsheet. Using visual analytics dashboards can help you better understand your organization’s complex data, and an indoor data platform can go beyond simple charts and graphs to give your data the geospatial context of a map. Location insights also add a new dimension to cost information, contributing to painting a more complete cost transparency picture for the organization as a whole.
Here are three ways to leverage location data to support your organizational strategy and enable your organization to make more data-driven decisions to improve the bottom line.
Physical Space Occupancy and Expenditure
Across all industries, physical space is one of the largest costs for most organizations. By understanding people movement through offices and corporate campuses, you can determine if you have the optimal amount of space for your employees. In looking at the situation and movement of employees throughout your workplace, you can determine if you have more space than you need, and are incurring unnecessary leasing expenses. Having true transparency on physical space usage gives useful insight into one of your highest expenditures, but without the visual context of a map, it’s easy to miss these potential indicators of inefficiency.
Facility Usage and Energy Efficiency
By moving beyond reactive understanding to actively moderating the distribution of people within offices and buildings, you can proactively optimize space usage for building energy efficiency. By using machine learning and intelligent employee mobile applications, to redistribute and reallocate employees from sparsely occupied floors, facilities teams can reduce HVAC controls on those vacant floors, which can lead to huge cost savings on energy.
Consumer Behavior Insights
Understanding the movement of people throughout large retail venues has long been known to be valuable. From handheld clickers to people-counting cameras, there have long been attempts to understand how to get people into stores. However, the visibility and actionability of the data has not always kept pace with the retail industry’s intelligence needs. This type of data drives key insights in two distinct areas. The first empowers tenant management teams to set rental rates based on real data around location value. The second is to understand consumer journeys more fully. Indoor location analytics can tell us peak visit times, dwell times, behavioral patterns for anonymized visitors. By understanding where people congregate, how frequently the return, and their top paths taken, retailers can use location data to understand how their promotions and activities do, or don’t, drive traffic to stores.
Location-aware indoor data and map-enabled data visualizations enable organizations to use both location and business data together to answer questions, make accurate predictions, and uncover insights often overlooked in tables and charts alone. With an intelligent indoor data platform, organizations are empowered, at all levels, to achieve greater cost transparency and improve their bottom lines.