The Benefits Of GIS In Business

11 November 2015
 Categories: , Blog

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There are a lot of things that need to be attended to and taken into consideration when running a business. Gathering information for your business is crucial, and a lot of that information will be geographically referenced. The more information you gather, the more challenging it will become to manage and assess.

Fortunately, there is a way that you can simplify the collection and the interpretation of the geographically referenced information you collect, and that is with a Geographic Information System (GIS).

A GIS is a tool that is intended to gather, store, check and showcase various forms of data on a single map. For all intensive purposes, a GIS could be considered an intelligent map. This tool has become extremely important in the world of land surveying (such as is done by professionals such as Goldsmith), as well as the business world, and considering what it can do, there's a good reason why. From the development of a small business to the planning and cultivation of farms, a GIS is beneficial in so many industries.

Here's a look at how GIS can be used and why it is beneficial in the business world.

Insurance Agencies

Believe it or not, GIS is a very helpful tool in the world of insurance. Why? Because it can gather pertinent information related to a specific location. This tool can visualize that pertinent information via a single platform. As a result, insurance agents can provide more accurate and improve rate quotes, provide speedier and more efficient service, and, therefore, build a more successful business.

Retail Stores

GIS can be beneficial for retail store owners as it can help them choose the best location for future stores. For example, a department store that is looking for the best location to build a new store by replicating their target customers' behavior by using the information gathered by a GIS. For instance, the department store can pinpoint a location to a new store that is similar to the location of an already existing store based on the information collected by GIS. 

Real Estate

In the world of real estate, it's all about one thing: Location, location, location; however, in order to make the most of a prime location, real estate companies and developers also needs to have great insight and timing. GIS can help real estate companies and developers can conduct property research, market analysis, as well as spatial analysis.

Banking

GIS can help to improve the how a bank's branches are run and improve profits and deposits. You can also gain more clients with GIS, as you will be able to locate people who are interested in opening up new bank accounts. Thanks to the location analysis that GIS provides, banks can gain new insight regarding customer needs.