Finding the Perfect Fit: How to Choose the Right Location Data Provider for Your Business
March 23, 2023
Are you considering using location data for your company? From market research to business strategy, location data solutions can make a significant difference in the success of your company. But with so many location data providers available, selecting the right one for your needs can be overwhelming. You may even consider combining data from more than one provider to achieve the best results. It’s also worth noting that as location data companies grow, their products, services, and goals will evolve, each bringing something unique to the table. So how can you determine which company can provide you with the best location data products for your business?
When evaluating location data providers for your business, it’s essential to ask the right questions so you can make better informed decisions. But, here’s one overarching question to ponder: Do the location data provider’s products or services satisfy my needs?
Know What You Need
What are your goals with location data? In other words, what can location data offer your company? There are plenty of traditional and emerging ways we’ve seen various organizations use our location intelligence tools, and we’ll likely continue discovering more. For example, can location data help you make better planning decisions by offering supply chain visibility? Are you looking for a way to enhance your location data handling practices with an added layer of privacy assurance? Perhaps you’re looking for a competitive advantage by understanding your competition’s customers and their interests, or by better understanding recent consumer foot traffic trends. Whatever your company’s needs are, understanding your goal is the first step to finding your perfect location data provider.
Not only is it important to understand the goals you’re trying to achieve through the use of location data, but it’s also important to understand what you need from your location data provider. For example, you may value customer service, privacy, or ease of use. Analyzing your options is key to accomplishing whatever it is location data can help you with.
Know What Questions to Ask
When evaluating location data providers, what questions should you ask them? Connecting with a location data company can help you better understand how their products and services may meet your business needs. As you learn more about a company’s offerings, you may even discover new ways you can use location data to achieve your goals. This is why asking questions is so important during this process.
Location data experts have vast experience working with different businesses and understand how their products can address unique needs. And, if it turns out that a product does not align with your specific needs, these experts will be able to let you know and suggest alternatives to help you accomplish your business goals.
At Gravy Analytics, we recognize that every business is different, and investing in location data requires careful consideration. That’s why we created a helpful guide that outlines the essential questions to ask when evaluating location data providers. Download our informational guide to gain insights into the top five questions to ask when considering using location data for your business.
Reassess & Keep Up-To-Date
The world of location data is rapidly evolving and may even look completely different in the next few years. As more organizations use location data for things like market research and foot traffic insights, incorporating location data into your own business strategies will become increasingly important to remain competitive. Additionally, as more internet-connected objects emerge, location data may become more accessible and utilized for new purposes. For example, how will connected cars change the ways location data is used? How can the advancement of internet-connected robots provide a new source of location data, and how could it be used in the future? These are just a few examples of what could be on the horizon for location data.
As the location data industry, and legislation impacting the industry, continue to evolve, it is important for businesses to regularly reassess how they are using location data and even discover new ways to benefit from it. As technology and society advance, location data will do so as well, and so should your company’s goals.
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