The Future is Now with Demographic Reporting Tools

June 26, 2017 by - Location intelligence, Location intelligence market, Spatial analysis

Location intelligence companies

Demographic reporting tools are a wide range of online tools that allow for the collection of mass data. This data can then be used for a wide range of applications including mapping, marketing, and determining shifting trends.

The first step is collecting the data. However, if a company spends mass amounts of time and resources on collecting the data, that leaves no time for reporting and analysis. Data experts at Google recommend committing roughly fifteen percent of time to data capture. Going further, they recommend twenty percent of time goes to data reporting, and then sixty-five percent of time going to analysis.

Data analysis is the most important aspect of the process because it is what provides the insight and answers organizations are looking for. Having a mass amount of data is not helpful if it isn?t clear what the data is saying.

A lot of demographic reporting tools are referred to as the internet of things. This refers to devices other than computers that send and receive data through a consistent connection to the internet. This includes mobile devices; cell phones, tablets, gps devices, smart watches and more. While this term has been around for over a decade, it is just recently gaining traction regarding the potential impact as a data collection source.

In 2011 alone, there were 12 million RFID tags sold. These are used to capture data and track movement of It is estimated that by the year 2021, that number will have increased to 209 billion. The growth in this market is also opening up new specialized jobs. According to one report, the geospatial analytics market is going to grow from a $27 billion industry to $72 billion by 2020. This will open up a wider range of jobs within the industry.

Further, another study suggests that there will be well over four million big data jobs available in the next two years alone. The market is anticipating a huge gap between the need for skilled workers and the availability of workers.

More and more companies are now reporting the growing importance of geospatial data and location intelligence to the growth of their business. Marketing analytics are taking on a new dimension in how people are tracked and their shopping patterns are analyzed.

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