Next-gen location data is changing the way we analyse customer information Pitney Bowes is a global leader in providing and analysing information on where consumers live, work and shop. Here, Nigel Lester, managing director for ANZ, explains how businesses can use geographical data to bring their existing datasets to life. June 28, 2019 7:30 Sponsored by Pitney Bowes The interest in location-based data has exploded. Think of all your phone apps – how many of those use geographical information? Brands need to think about how they can take that new information and use it to gain valuable insights.Pitney Bowes’ ANZ managing director Nigel LesterWe’ve been providing location information to the Australian marketplace for more than 20 years. We work with a wide variety of sectors including telecommunications, retail, FMCG, insurance and franchises. For a lot of organisations, it’s a competitive advantage, which lets them understand their customers more effectively. People are surprised by the amount of information you can glean by understanding where somebody is. You can gain new insights, target customers more effectively and understand your audience better.Birds of a feather flock together – people who live somewhere tend to have similar demographics and socioeconomic profiles. Similarly, when people purchase online or go to certain stores or attend certain events, they have similar characteristics. In the past, we could understand things at a household level, but in 2019 we can step inside that household, and understand what they’re spending money on. In a particular area, we can now tell you how much money they are likely to be spending on alcohol, clothing or appliances, say. And then we can compare that to other nearby areas, to see potential markets you brands haven’t taken advantage of.ADVERTISEMENT We’re able to accumulate information regarding every single building in Australia. There’s lots of different data out there, but we partner with the best around the world and locally. Pitney Bowes prides itself on making sure that both themselves, partners and clients respect the privacy and are compliant around data governance. Government organisations collect information such as the Australian Bureau of Statistics or public sector mapping agencies. Information can drill right down to finding out what the roof is made from or if the building has a swimming pool. We even know where every single tree is inside Australia’s cities. We can do that abroad, too, which is useful for businesses looking to expand globally to Southeast Asia, the US or Europe. And because we often have the same data sets in each country, we can compare markets directly.Insight is hearsay if it’s not backed up by science. Many brands have preconceived ideas about the kinds of markets they should be targeting. When you add location information, you can visualise things so much better because you can overlay it on to a map. We also have technology that allows you to mix your own business information with datasets from Pitney Bowes.We have a team constantly updating our datasets, some every month. Unlike a fine wine, location-based data doesn’t get better with age. We model in-between census years to understand the changes that are happening.One of our significant customer verticals is retail. All of the major supermarkets use location information to understand their retail footprint, for example, not just with their stores but also their competitors’. Our clients are as diverse as ranging from gyms to fast-food outlets, all of whom need to know the demographic mix of the local population and what they are spending on food, health and lifestyle. We have thousands of data points people can use to get a better understanding of their customers and identifying more. Our clients are also frequently using this data to understand the best franchise locations and territories. CONTENT SPONSORED BY Pitney Bowes ADVERTISEMENT