Huge benefits of mining location data From accenture

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The following is the Huge benefits of mining location data From accenture recommended by recordtrend.com. And this article belongs to the classification: accenture , research report.

In the online world, every piece of data we leave behind can reveal our characteristics, which can describe our age, gender, habits, preferences, work place, residence, and even our network circle. Among all the information, our location data can show our life from a unique perspective. Every meaningful interaction, the quality of sleep every night, every vacation, shopping, travel, even the daily wake-up time, all take place in a specific place. Knowing where we are, we can know the stories that happen in our lives. The so-called “knowing where we are” means seeing the whole picture.

For marketers, it is of great value to understand the likes and dislikes of consumers, and it is more significant to grasp the whereabouts and activities of consumers at any time. But usually, consumers are only willing to exchange information for actual benefits. And if they don’t have a lot of trust in the business, they won’t provide any information at all.

An overview of “knowing where you are and seeing the whole picture – the great benefits of mining location data”

In the online world, every piece of data we leave behind can reveal our characteristics.

If enterprises can understand people’s whereabouts and their behaviors, they can obtain huge business opportunities from the scenes of consumers’ daily life.

The Accenture 2019 digital consumer survey found that more than half (58%) of online consumers believe that sharing location data brings personal risks.

So, how to respect users’ privacy when providing location aware services?

The Accenture 2019 digital consumer survey found that 58% of online consumers believe that sharing location data brings personal risks.

Many high-value smartphone experiences rely on user location data. From map navigation to weather forecast, from local search to vehicle sharing, only by knowing the exact location of consumers can we create a good user experience. With the rise of wearable technology, the development of Internet vehicles and the construction of smart city environment, the value potential of geographical location is huge.

Accenture’s recent research also found that new experiences across the “edge” of the physical and digital worlds, such as door-to-door delivery and driverless taxis, will further shape people’s attitudes and behaviors. In today’s market environment, only by maintaining a high degree of correlation with consumers can enterprises have a good development. Therefore, they need to make effective use of geographic information, seize every critical moment in consumers’ lives, and provide them with valuable services.

Whether people are willing to share location data depends largely on whether location aware applications can bring value to them.

63% of consumers are willing to share location information when identifying directions.

48% of consumers are willing to share location information when querying local weather conditions

The willingness of consumers to share location information was 34% and 29% respectively. For other common activities such as dating, games and content access, only 10% of consumers are willing to share their whereabouts.

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