Location intelligence software, also called spatial intelligence software, is a business intelligence solution that provides location analytics to identify the relationship between certain objects based on their physical locations. Location intelligence tools enable users to see trends on maps and graphics to optimize certain business opportunities. Users are able to derive patterns and trends from these location analytics with the help of such features as density analysis, distance and travel data, and geospatial mapping for determining terrain, among other features.
Location intelligence solutions are mainly utilized by data scientists and analysts who can pull out business insights from the tools. For example, analysts may use location intelligence software to find the ideal location for a new warehouse that can more quickly transport goods to nearby stores or decide exactly where a new restaurant chain should open up due to increased demand in the area, among other use cases. These products may be implemented as part of a bigger business intelligence initiative, alongside business intelligence platforms or self-service business intelligence tools.
Location intelligence software may have similar functionality as GIS software; however, it differentiates in the fact that it can consume big datasets in real time instead of providing a historical snapshot of geospatial data. Additionally, location intelligence software is utilized by data analysts and scientists, as opposed to surveyors and engineers.
To qualify for inclusion in the Location Intelligence category, a product must:
- Consume geospatial data in real time
- Allow users to manipulate, model, and analyze the geospatial data
- Provide the ability to build maps that offer insights into the geospatial implications of the data
- Offer the opportunity for analysts to pull actionable business insights out of the data to be shared with decision-makers
