Demographic reporting tools have never been more important.
In a time when businesses are battling for customers, it is important to make use of every available digital advantage. From location intelligence to demographic reporting tools to spatial data analysis, fortunately, there are a number of marketing analytics services that companies provide.
As more and more consumers transition to making at least some of their purchases online, it should come as no surprise that the marketing world as we have known it in the past is transitioning as well. Unfortunately, even though there is a wealth of digital data that is available, the majority of this data is not put to use. With predictions that the world’s population will grow by 50% in the next four decades it only makes sense that businesses are trying to find a way to connect with the more than 9 billion who will be alive by then. This is especially challenging given that businesses are still not doing all that they can to reach today’s 6.5 billion.
Consider some of these facts and figures about the digital marketing environment and how it drives today’s economy:
- Today’s most advanced GPS receiver can determine the current time within 100 billionths of a second, allowing businesses to track customer locations.
- Helping generate $1.6 trillion in revenue for the rest of the U.S. economy, the geospatial industry generated $73 billion in its one revenue in the year 2011.
- Although today there are more than 30 in existence, including a couple of spares, there are always at least 24 active GPS satellites circling Earth at any one time.
- There will be 4.4 million big data jobs available in the next two years, and only 33% of them will be successfully filled, according to the research company Gartner.
- Although the term has been around for more than 15 years, the use of the term the Internet of Things only began gaining wide currency more recently. It refers to devices other than computers that are connected to the Internet and can send and receive data.
- 12 million RFID tags, which are used to capture data and track movement of objects in the physical world, were sold in the year 2011. By 2021, however, it is estimated this number will increase to 209 billion as the Internet of Things takes off.
Taking advantage of today’s digital marketing tools can help businesses of all size succeed and grow their customer base.