Technical advances and new ways of spatially analyzing data are allowing companies to get the most out of their advertising budget, as well as providing useful information for all areas of business operations.
Former CEO and current Executive Chairman of Google Eric Schmidt stated “every two days we create as much information as we did from the dawn of civilization up until 2003.” While some have noted that his words might be an exaggeration, his point still demonstrates an impressive revolution in the way knowledge, content, and data are being generated. The recent data revolution is responsible for a wide array of new goods and services, but in many ways it is still in its infancy.
Learning to Think Spatially
Geographic Information Services (GIS) is one the most rapidly expanding arenas for data processing (think Google Maps). Statistically analyzing locational relationships and combining those with other forms of more traditional data results in a richer and more complete picture. Check out some of the beauty in spatial data demonstrated by Twitter (blue dots) and Flickr (orange dots) usage in New York in the image below. It’s up to marketers to best know how to glean useful information from the wealth of information sources available.
Adpearance is lucky enough to be located in beautiful Portland, OR; one of the areas best utilizing the power of spatial analysis to study the relationship of urbanization and the environment. With its unique approach to city planning (the Urban Growth Boundary) Portland is a hotbed for some of today's best research regarding urban impacts on the environment. Metro, Portland’s regional planning and governance body, relies heavily on GIS analysis to help inform their decisions about urban growth and sustainability. City and regional planning isn’t the only area where GIS analysis can be useful though.
Why Does This Matter to My Business?
The marriage between demographic and consumer trends with spatial information is creating powerful new avenues for companies to analyze their efficacy in sales, promotion, and advertising.
Consumer rewards cards are an example of how companies are attempting to get a more complete picture of their customers; in exchange for valuable consumer data, shoppers are rewarded with relevant discounts and exclusive perks.
At Adpearance, we believe that your digital advertising solution should generate benefits that spill over into other aspects of the business decision making process. Below is an example of how we can use consumer information to create the best picture of your market reach. We can create better targeting to limit wasted spend, test areas for advertising expansion, and provide a unique look at where your customers are located.
How do you utilize geographic information? Have any examples of beauty in (spatial) data? Leave a comment or contact us to find out more about how we can work together for your solution!