Geospatial Analytics

Data analytics is one of the hottest trends in enterprises today. Companies are dependent on data analytics for a wide array of services and features which help the company achieve its goals faster and deliver utility to its customer in a timely manner. When conventional data analytics is powered with location and geospatial, it holistically takes care of the customer requirements. Geospatial technologies enhance the utility, functionality as well as the relevance of data analytics.

GIS tools have the unique ability to slice and dice terabytes of data in real time to derive decisive insights into understanding spatial trends and associations

There is a wide prospect of an increase in the use of spatial technologies. Geospatial data analytics is driving businesses and fostering innovation across different verticals. It also enriches the user by offering him a new perspective of data interaction by enabling users to recognize new patterns and connections, which can’t be showcased in traditional methods using graphs.

“Geospatial technologies enable a 3D view of business data through a map, the required spatial information can then be identified through latitude and longitudinal coordinates to extract demographic and customer information. This collaboration of tabulated data and locational data gives precise context by analyzing heterogeneous information available across complex system environments

Advantages over conventional analytics

Geospatial data analytics offers a host of advantages over conventional data analytics which doesn’t factor location. First of all, such an analysis that lacks the dimension of location and GIS would be incomplete and bereft of any insights. Often this data could be misleading as well or fail to provide sufficient information. The biggest advantage is the ability to visualize data, due to which one can deduce new perspectives and perceive new trends. The visual component can enable decision-makers to get intuitive insights to identify business opportunities

Geospatial Market

Geospatial analytics market is booming rapidly and shows promising prospects. As per the 2019 GeoBuiz report data analytics-GIS market is expected to touch $88.3 billion by 2020, growing at a CAGR of 12.4%

As per a study by MarketsandMarkets, between 2017- 2023, APAC will be the fastest growing region for extensive use of geospatial technologies to identify potential markets and drive strategic decisions in engineering, construction, mining, manufacturing, insurance, and agriculture. Currently, 3D GIS technology is being used in the development of smart cities across various South East Asian countries.