Factors affecting Point-of-Interest (POI) around the world

Factors affecting POIs around the world

While there are several factors that affect Point of Interest (POI), at Echo Analytics we consider some specific criteria for our POIs.

Source: Unsplash.

As businesses and organizations continue to grow and expand, the importance of tracking and analyzing Point-of-Interest (POI) has also increased. They affect the way you do business. They provide accurate and timely information about the location that you are interested in so that you can make informed decisions for your business. 

What is a Point-of-Interest (POI) dataset?

POI datasets provide information on real-world locations, such as malls, restaurants, train stations, and grocery stores, explaining why these locations can be important or of interest to you. It tells you what kind of features exist in the location, such as if the mall has a parking lot or the train station has some stores, what are the common functions in that area, and what else you should be aware of, such as who are the competitors around that POI. 

It is also important to note that POIs can vary greatly depending on the context. For example, the POI for a tourist might be popular landmarks like a monument, but the POI for a retail business owner might be specific to high-traffic areas like the city center or a mall.

There are several factors that can affect POIs around the world, and here are some of them:

1. Topography

Topography plays a significant role in determining POIs or the location of interest. For example, natural landmarks and scenic areas are likely to be popular locations for tourists. These might include mountains, beaches, forests, and other natural attractions. On the other hand, urban centers are likely to have more diverse POIs, such as cultural institutions, restaurants, and shops. Additionally, accessibility can also impact the popularity of a location. For instance, POIs that are located near major transportation hubs or easily accessible by car are likely to be more popular than those that are more remote or difficult to reach.

2. Demographics

The age, gender, income, and education level of a population can all impact the types of POIs that are popular in a given area. For instance, a population with a higher median age might be more interested in cultural institutions and historical landmarks, while a younger population might be more interested in bars, clubs, and other entertainment venues. Additionally, the cultural and ethnic makeup of a population can also influence the decision of selecting a particular location for business. For example, a residential complex located close to a school or a kindergarten might be in higher demand among families with children.

3. Economic Conditions

In times of economic growth, businesses, and organisations are likely to invest in developing new POIs, such as shopping centres, amusement parks, and tourist attractions. These investments can create jobs and stimulate economic activity, making them attractive to local governments and communities. On the other hand, during times of economic downturn, the development and maintenance of POIs may be less of a priority, as businesses and organisations focus on conserving resources and cutting costs.

By tracking and analyzing POIs, businesses, and organisations can gain valuable insights into the preferences and interests of their target audience. However, at Echo Analytics we realise that clients can make use of POIs only when they are of high quality and provide all the necessary information.

To ensure that our POI datasets are of high-quality, here are some factors that we consider:

1. Freshness

The world is ever-changing and no POI is permanent. There is always a building coming down or a new pavement being made or a tree being planted in a park. These changes affect the location and the characteristics of that location; for example, if a new hospital has been built at your preferred POI it means that it will now attract a different kind of demography which in turn will affect your business strategy. We help our clients keep up with these changes we ensure that our POI datasets are updated every month.

2. Global Coverage

Our global coverage, as of December 13, 2022, provides over 44 million POIs across 211 countries, and we are adding more each day. The more detailed the information, the more likely our clients will have a better understanding of the location they are looking at. 

Global POI coverage from Echo Analytics
Echo Analytics' covering over 44M POIs in 211 countries. Source: Echo Analytics’s internal data, extracted on December 12, 2022.

3. Consistency

A dataset is only worthwhile if it is usable by the client and for it to be so, consistency is important. The data must have a defined structure and include attributes essential for a basic perception of any location of interest. Through our carefully constructed woven methodology, we ensure that our clients receive clean and up-to-date information. Once we have extracted data from various public and private sources we conduct a POI data validation to eliminate duplicate and fake POIs. This way our clients have access to accurate and easy-to-understand information. 

At Echo Analytics, we offer POI solutions to help businesses and organizations track and analyze POIs. Our advanced methods allow users to quickly analyze data on POIs, providing valuable insights that can help drive business success.

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