Member Article

Spatial analytics: examining the relationship between data and distance

Geographical-related data is vital to any business where there is a link between its products and the point of delivery or service, says Andy Smith, sales director at Perfect Image. Here he discusses the concept of spatial analytics and how it may benefit your business.

The field of data analysis is vast and varied, and while the term is often used as a white-wash phrase when referring to the process of interpreting data with the aim of discovering useful information, applying the words ‘data analysis’ to all scenarios really doesn’t begin to describe the different models available to users.

Take for example the field of spatial analytics. Rather than looking at the purchasing behaviour of customers and seasonal trends as you would, for example, with a different model of data analytics, this form examines the relationship between data and distance.

So for example, a chain of supermarkets across the UK could employ spatial analytics to gain insight into where would be the best geographical location to open another of its stores. Using this type of data modelling, the business would be able to look at footfall to other similar type businesses in the area, how far customers travel to these other businesses and so on. Armed with this information, the key decision makers within the supermarket chain could clearly see, for example, how far the geographical reach of marketing the new store to a local audience would have to reach in order to gain return on investment.

It’s this type of geographical-related data - or spatial analytics - that is vital to any business where there is a link between its products, the point of delivery or service and its customers. After all, armed with this knowledge, key decision makers can clearly see the costs associated with each element of the business and the profit each activity generates.

Is it worth doing? Will it cost more money to the business to continue in the same vein? Is ROI achievable if planning to open a store in this area, or is another site a better location? Will this decision boost the bottom-line and increase the profit margins? It’s these types of questions that spatial analytics provides the data to enable businesses to unveil the answer and make intelligent, informed decisions.

At Perfect Image, we’re pleased to be able to help our clients uncover real business benefits through the intelligent use of IT and the field of data analytics is just a part of this offering. One of the data analytics platforms we offer our clients is Alteryx – the leader in data blending and advanced analytics software. Not only does the platform deliver deeper insights by seamlessly blending internal, third-party and cloud data, Alteryx allows users to then analyse the data using spatial analytics quickly and easily, within workflows that need no programming.

For more information about the benefits of Alteryx and how Perfect Image can help implement the analytics software in your business, visit: http://www.perfect-image.co.uk/software/business-intelligence/alteryx.aspx

This was posted in Bdaily's Members' News section by Perfect Image .