SAN RAMON, CA, September 09, 2013 /24-7PressRelease/
-- Ventana Research has released its latest benchmark, Location Analytics. Location Analytics is defined as the integration, access and use of geographic information and technology to help consumers and businesses to take action and make decisions efficiently and effectively. The research identified trends, market opportunities and organizational requirements associated with Location Analytics. The research also provides key insight on competency and maturity of organizations use of location and geographic context as well as their current and future business and technology requirements and best practices.
Location Analytics uses information about geography to advance the quality of business decisions and shorten response time to opportunities. In addition, using this technology can add value to important technological innovations including business use of big data, collaboration, mobile technology and business analytics. The technology combines geographic information with a variety of business systems, including enterprise resource planning (ERP), customer relationship management (CRM) and supply chain management (SCM), from the Internet, websites and databases, making it easier to leverage and capitalize on existing technology.
The research shows that organizations use location analytics for business-to-business (B2B) and business-to-consumer (B2C) functions as well as in internal processes. Most participants in this research said that using location analytics has improved the results of their activities and processes, either significantly (34%) or slightly (51%). As with any technology, higher satisfaction lies in the technology used to analyze location information. Organizations that use a dedicated tool for location analytics significantly improve the results of their activities and processes more than twice as often as those that use only business intelligence (43% vs. 16%).
A look at the capabilities necessary for effective location analytics indicates why tools designed for the purpose get better results. More than three in five organizations said three basic capabilities are important: geographic representation of data, visual metrics associated with locations on a map, and selecting and analyzing locations on a map. One-half to one-third said interacting with maps and locations for further analysis, determining distance and drive time, and adding layers to maps are important. As new Location Analytics capabilities become available, businesses will be able to strategically use geographic context. When Location Analytics is used properly, companies will save time and money, while increasing profitability, competitive advantage and reducing risk.
"The value of adopting Location Analytics is that it can provide a real competitive advantage if the right technology is applied properly to business processes. But the technology alone will not deliver the desired benefits when an organization's people and processes are not ready or lack the experience to fully use it. ," said Mark Smith, CEO & Chief Research Officer, Ventana Research, "The research revealed best practices companies have implemented to provide clear view of the benefits and steps to overcoming challenges in the use of location analytics."
To learn more about the Location Analytics research, please visit: www.ventanaresearch.com/locationanalytics
. The research was sponsored by ESRI and supported by our partner Directions Magazine. Ventana Research, a leading business technology research and advisory services firm, provides qualified research participants with a financial incentive, complimentary report and presentation of the research findings as well as access to a free educational webinar on key findings from the Location Analytics benchmark research.
Ventana Research will expand on the key findings of this benchmark research during a live webinar on Tuesday, October 1st @ 11 am PST. To participate in the webinar, or view it after it has taken place, visit: www.ventanaresearch.com/LocationAnalyticswebinar
About Ventana Research
Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.
Ventana Research provides the most comprehensive analyst and research coverage in the industry; business and IT professionals worldwide are members of our community and benefit from Ventana Research's insights, as do highly regarded media and association partners around the globe. Our views and analyses are distributed daily through blogs and social media channels including Twitter, Facebook, LinkedIn and Google+.
To learn how Ventana Research advances the maturity of organizations' use of information and technology through benchmark research, education and advisory services, visit www.ventanaresearch.com
Media: Copies of benchmark research report and interviews are available upon request.