Why is POI data important?
You might not be aware, but we use POI data all the time. Every time you order food via your favourite app, use a ride-hailing service or check out a new restaurant on Google Maps – you are actually using POI data curated by specialised companies.
Apart from the B2C use cases mentioned above, businesses can also use POI data to analyse trends, patterns and more, to come up with new strategies. Regardless of whether you are an advertising agency looking for a better way to plan your media campaigns or a hedge fund choosing if you should go long or short on a stock option – POI data will be the underlying factor helping you make the right decision.
Admittedly, implementation of geospatial business intelligence (BI) in commerce, financial institutions, ad-tech, real estate and other industries, has never been more vital or accessible than it is today, and POI data has become a critical component of it.
Geospatial Business Intelligence powers organisations to gain an understanding of what is happening within or around their locations of interest; it contextualises a location and provides better insights on a customer, a competitor or a market level, and helps to identify specific challenges the company is facing. These insights can only be drawn out with the help of high-quality and scalable POI datasets. Analysing this information can help you fine-tune your business operations with an intelligent, data-driven strategy.
How is POI data used for enhanced contextualisation?
Using rich attributes of POI data and complementing them with alternative datasets such as anonymised mobility patterns, demographic data, stock information, accessibility data, transaction data and etc, enables multiple companies and organisations to fuel their data models with granular information for a more representative analysis of the location in question.
Some examples of the direct applications of POI data for enhanced contextualisation include site performance analysis, urban planning, and competitive benchmarking, to name a few.