Rent, which is usually a big percentage of a company’s expenses, has now become a key consideration as many businesses relocate to avoid closing down.
But to know exactly where to relocate to, Big Data analytics through geo-location plays a major role to help business leaders choose locations that fit their budgets.
A recent report by Knight Frank shows that rent prices in Nairobi have dropped during the Covid-19 pandemic as firms shift to online workspaces, pushing employees to work remotely.
Rent, which is usually a big percentage of a company’s expenses, has now become a key consideration as many businesses relocate to avoid closing down.
But to know exactly where to relocate to, Big Data analytics through geo-location plays a major role to help business leaders choose locations that fit their budgets.
Location Intelligence, a critical component of Big Data, empowers organisations to visualise information in any specified geographic location automatically, thereby enhancing decisions for service, product, or organisation.
The innovation can be interlinked with mobile apps and has the capability of gathering a wide spectrum of data across a diverse geographical locations and interlay with multiple layers of data to give a more precise view of information.
Using various cutting edge visualisation formats, the system infuses models into graphical mapping displays, built-in analytics with an easy user interfaces like drag and drop to identify, curate and understand relevant insights for your organisation.
The inbuilt machine learning recommender engine enables a telescopic view into the future to guide effective strategies, informed decisions and proactive strategies.
A location intelligence platform also provides you with types of businesses around, mapping with demographic and economic information.
One can tell you where exactly you need to locate a business, service, rent a house, buy land, invest in property or select a service.
Similar to the way we can find the best location for ATM, you can also find a place where you could open a new branch.
The innovation also helps one to determine locations where there are competitors and strategically choose the best place for a business or an outlet for your products.
Based on the locality, you can also figure out what is the best advert to put there. If there are more malls, it could be a credit card advert.
If there are more new constructions and real estate agencies, it could be a home loan advert. If there are more universities it could be an education loan advert.
Now that you know the locality and size of business in that area, you can even decide the number of employees to put in a branch of your business.
The insights generated from the platform can enable a bank to create a weekly business seminar or open a new counter where you can explain to your customers the business opportunities existing worldwide and assist them with short or long term loans.
DEEP LEARNING
The platform provides optimised routes for the selected business to cover and also an option to track the movement of the sales team across the region there by having a real time insight on the progress.
If there are 200 stores to cover in a month, you will be provided with information on number of sales people required in a week or month and your HR team will know how many people need to be recruited.
The platform is embedded with demographic data, economic data, risk data, machine learning algorithms, deep learning algorithms, analytics and domain expertise which when combined with your internal data, gives you epic results.
The time to start using location intelligence is now.
Oriedo is founder and CEO of Predictive Analytics Lab, Nairobi.
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