Hundreds of experts and distinguished guests from around the world are all set to descend on Hyderabad for the start of the Geospatial World Forum 2017 summit, taking place on January 24th & 25th, with a single aim: to exchange their observations or ideas about the potential of location intelligence as well as location analytics to make our society and business function in a smarter way. Chaitanya Kumar, IndustryARC’s CEO, is expected to address this notable gathering and throw some light on how retail SME’s and offline stores can use a combination of big data analytics and location mapping software to fulfill their objective of adapting to a rapidly evolving environment.
Over the past few years, location intelligence has expanded into a broad topic with numerous applications. At its most fundamental level, location intelligence borrows a few pertinent concepts from business intelligence (BI) and geographic information system (GIS), only to combine them so that an extensive location data analysis can be undertaken. “Location” deals with all the raw data related to the tagging of specific locations whereas “intelligence” is far more concerned with the transformation of the raw data into implementable insights through the utilization of big data analytics and machine learning.
Previously, GIS was largely used by geographers and land management enterprises to identify or study particular patches of land for minerals or other physical resources. The primary objective used to be collection of data related to a relatively big geographic region and to compare it for changes across periodical intervals. But the development of vector data sets has enabled the creation of a wide variety of location based services which can be used by any customer armed with a smartphone. Real time tracking of couriers, traffic analysis, personal navigation, etc., are all a result of the integration of the raw data, derived from GIS, with machine learning and advanced analytics software.
The raw location data is then modified into useful predictions whose accurately is set to grow with time. Once an accurate data stream is achieved, it rapidly evolves into actionable intelligence which the society and businesses can use to improve their understanding of the external environment and analyze to breakdown events at a deeper level, which will help them anticipate future phenomenon. At Location World 2017, industry experts are expected to illuminate the gathering on the variety of ways in which location intelligence is influencing their respective fields of enquiry.