Technology advancements have invariably enabled researchers to access new kinds of data. In the consumer marketing space, over the past five decades, researchers went from relying on basic census data and sample surveys to combining them – leading to geo-demographics.
As a result, we got to know where things happen and their significance. It enabled us to draw inferences about consumer patterns.
When businesses began tracking their actual customer behavior in POS and CRM systems, this behavior data was used to build models – expanding into what we called predictive analytics.
At the same time, desktop mapping and GIS tools became more accessible – so retailers, government planners, and many others combined modeling with spatial analytics. Then came the digital era, where purchasing, researching, and advertising moved online.
Secret Sauce
Geography is often “the secret sauce” to help test representativity, normalize data, ensure privacy is embedded, and ensure good quality analytics. We are on the verge of true data-driven decision-making and an era where there will be true effectiveness measurement.
Data scientists and business leaders must lead with a strategy that ensures ethics, best practices, and standards to take advantage of this to help organizations make better decisions.
The use of small area data, combined with first-party data when used properly, finally gets us to the holy grail of advertising – better attribution, data blending, and accurate measurement of marketing effectiveness.
We are using more data, combining traditional and innovative analytical techniques, and we will have clear and near real-time feedback on what is working. Clean rooms will allow brands to co-market and public sector organizations to combine with other data providers and models to create something close to Digital Twins.
As time and location get embedded in real-time data, a whole new world of local analytics opens up. Making decisions based on real data, with testing and learning along the way, helps businesses and governments innovate faster. It’s a truly exciting opportunity if we let the data speak.
Decoding the Maze
Our economic and social infrastructure relies on understanding the complexity of different populations and markets, small segments and small areas can be analyzed locally and rolled up to inform program design and policy.
Organizations need a data strategy led from the top – by the CEO and the rest of the C-suite – not just the IT, Marketing, or Real Estate analysts. The tools that are used to harness the data need to be organized across silos. It’s not a time for disparate parts of organizations to each do their own thing.
Moreover, many brilliant programmers and platform designers do not have the methodology expertise to help analysts pick the right tool for the right job. Data stewardship, methodology standards, and a focus on ethics and social responsibility are essential to an effective data strategy.
We are in a battle in many aspects of our lives for “truth”. In journalism, politics, and social media it is becoming harder to separate fact from fiction. Data are so prevalent and technology so powerful that data can make our lives better and make a difference in our future.
Spatial Encapsulation
Many tech firms do not have the expertise to integrate advanced spatial analytics into their platforms. Data scientists need to test algorithms and outputs from technology not yet embedded with advanced spatial analysis.
Thought leaders, governments, businesses, associations, and the data community need to advocate for geospatial data usage to design workable policies and programs.
Investment, innovation, and collaboration are essential. There is no contradiction between leveraging data and protecting the privacy of individuals – it just has to be done right.
Disclaimer: Views Expressed are Author's Own. Geospatial World May or May Not Endorse it
