When it comes to competitive intelligence efforts, location data helps businesses gain a more complete picture of the market and their competitive landscape, empowering organizations to make smarter business decisions and stay ahead of the competition.
“71% of data strategy leaders say that location intelligence is important or critical to achieving better outcomes when it comes to competitive analysis and benchmarking,” according to a recent Forrester study.
Location data can help answer questions like: How the impact of new market forces or businesses entering a location is affecting their business? What types of customers are visiting their competitors? Where your competitors are opening or closing locations?
Having this knowledge gives you the insights you need to adjust to market changes and take advantage of new market opportunities, build targeted marketing campaigns to attract customers from competitors, or inform your retail site selection strategy.
Download our ebook to find out how you can gain a competitive edge with location data and technology.