Benefits of Geospatial Data in Driving Analytics

Geospatial Data has proven to be beneficial across multiple industries over time and is being used in many places. Know how and where it has become a proven benefit.

Benefits of Geospatial Data in Driving Analytics
Benefits of Geospatial Data in Driving Analytics

Benefits of Geospatial Data in Driving Analytics 

As we advance and technology rapidly becomes the language we speak- data becomes a currency and is being collected and disseminated daily. Thanks to GPS and cell towers, we’re able to track locations of people and find places with the push of a button, and geospatial data is helping us even more across multiple industries.

At present, the geospatial data industry stands at a whopping $4 billion and is expected to grow in the coming time as more businesses integrate technology and data across their functioning.

Geospatial data is any data that is concerned with people, objects, or phenomenon on the surface of the earth. It could range from the areas affected by hurricanes to data about people living in poverty in a particular region over a period of time.

This data collates knowledge, including the coordinates and information to support this data. It has proven to be beneficial across multiple industries over time and is being used in many places. Here are a few places where geospatial data has become a proven benefit:

Communication 

GIS Data helps fill communication gaps in various ways. One, the telecommunication industry is integrating GIS to find untapped markets and solve communication problems in remote areas. Secondly, corporations rely on GIS data to identify points of interest and markets where they can expand. National security agencies, armies, and governments use GIS to communicate and share information as well.


Humanitarian relief

GIS data helps identify areas where change can be brought to improve living conditions, standards of living, or even spaces where basic amenities are missing. Problems like poverty, hunger, and sanitation can be identified and a plan to solve them can be strategised with the help of GIS data. Especially in food security, GIS has been used extensively to help farmers increase their yield, optimise their land usage.

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First response

In times of crisis and emergencies, GIS has provided respondents with proven data to back their decisions upon. GIS data helps create contingency plans and also helps foresee any obstacles that a rescue team might face in response to an emergency. During natural disasters, fires, and attacks on humanity, GIS data has been a standard fallback for government agencies as well as nonprofits to help people and improve conditions.

Cost savings

GIS data helps increase efficiency. It could be in the form of clearly laid out geographies for employees to operate in or a factory’s production cycle being divided in the most optimised way- GIS data helps bring in efficiency across industries by minimising wastage, reducing overlapping, and thus, saving costs. In transportation, costs have reduced as companies devise new ways of optimising location data and create routes that are the least time and fuel consuming.

Insurance and its pricing

The insurance industry relies on GIS data to assess the risks involved across various products they provide. It helps map and assesses risks that in turn, helps ascertain the prices of the products they offer. Not only this, it helps insurance companies manage and coordinate claims and helps avoid fraud to a great extent.

GIS has only started its journey to becoming support in other industries; it’s growing and sees a bright future ahead.