Market Analysis & the Power of Maps

“The power of maps for market analysis is often underestimated!”

... says Georg Magenschab.

In an Interview, the CTO of WIGeoGIS gives an overview of the possibilities, areas of application and trends for GIS and WebGIS based analysis tools and digital maps.

What opportunities does geomarketing offer companies when it comes to analyses?

Georg Magenschab: Geomarketing uses geodata and geographic information, or GIS for short, for analysis. These are software systems that use space and geography as a basis for analysis. There is a saying in English that “geography matters” and this statement is still 100 percent true today, even though areas of our lives are increasingly taking place online. After all, 80% of company data has a spatial reference. If companies neglect this spatial reference in market analyses, when setting up or optimizing their sales organization or territory planning, they deprive themselves of the opportunity to understand their data in depth.

What does this have to do with maps? What is the power of digital maps in the context of market analysis?

Georg Magenschab: Geodata analyses have the power to reveal spatial relationships that remain hidden with other tools. Digital maps are a powerful tool for visualizing data and spatial relationships. With data analysis via GIS software and geomarketing, companies can see their markets and key figures at every hierarchical level of the sales organization. In addition, spatial target group analyses, competition analyses and even forecasts are possible.

Which current trends in the field of GIS tools and geomarketing do you consider to be particularly groundbreaking for the future? 

Georg Magenschab: Current trends in GIS and geomarketing are moving strongly towards the integration of big data and artificial intelligence (AI). These technologies make it possible to analyze complex spatial data sets in real time and create more accurate predictive models for market trends and customer behavior. In particular, the use of geodata from social media and mobile devices opens up new dimensions of customer analysis and communication. This data is of course anonymized. Another trend is the democratization of GIS, i.e. the provision of GIS functions in user-friendly applications for non-specialists.

How is WIGeoGIS preparing for these GIS trends?

Georg Magenschab: WIGeoGIS is researching this direction and investing in the development of platforms that can integrate and analyze new data sources. With WIGeoWeb, we introduced one of the first WebGIS-Tools for non-GIS specialists many years ago, and we are still continuously working to improve and expand its functionality. WIGeoWeb 5.2 was recently released with new practical features, such as the chart function. Marketing, analysts and sales teams from over 120 companies already use WIGeoWeb to conduct geographic analyses and develop strategies without having in-depth GIS knowledge. Lifelong learning and being open to innovation are further trends that we take seriously at WIGeoGIS. We therefore offer our customers and interested parties training courses in which we pass on our GIS and analysis knowledge.

Georg, thank you for the interview