Geospatial data definition

At its core, geospatial data tells us where things are and, crucially, what they are. By combining location information with attributes—such as a building's purpose, an address, or an area's population density—geospatial data gives us a geographic understanding of our environment. 

Making sense of the world around you starts with geospatial data. Geospatial data analytics is the backbone of decision-making across various sectors.

The world we live in is inherently spatial. Every event, every action, and every interaction occurs in a specific location. Geospatial data is the information that captures these spatial attributes, linking data to a specific place on Earth. This type of data is more than just coordinates; it’s the dynamic foundation of our increasingly interconnected world, influencing everything from how we travel to how businesses make strategic and proactive decisions.

As the UN Independent Expert Advisory Group aptly put it, "Data is the lifeblood of decision-making and raw material for accountability." This insight is especially true in the realm of geospatial data, where the ability to pinpoint, analyze, and visualize information tied to specific locations is transforming industries and redefining the boundaries of what’s possible.

From early maps to modern insights: The evolution of geospatial data

To understand what geospatial data is, let’s look back at its origins. 

The first recorded use of spatial data for analysis dates back to the 19th century when Charles Picquet produced a map of a cholera outbreak in Paris in 1834. This pioneering use of spatial analysis was followed by John Snow in London in 1854, who mapped a cholera outbreak to identify the source of contamination—a public well. These early applications of geospatial information laid the groundwork for what would become a critical field in data science and geography.

The advent of computers and the development of Geographic Information Systems (GIS) in the 20th century marked a turning point. With companies like Esri leading the charge, GIS technology has enabled the collection, storage, and analysis of spatial data on an unprecedented scale. This innovation allowed businesses, governments, and organizations to visualize complex data sets in a geographic context, paving the way for the sophisticated geospatial data analysis we rely on today. The launch of Esri’s first commercial GIS product, ARC/INFO, in 1981 marked the beginning of a new era in geospatial analysis, one where businesses could leverage location-based data to make informed decisions.

Fast forward to today: geospatial data is more relevant than ever, and its applications are vast and varied.

Geospatial data today: A critical tool across industries

The applications of geospatial data have expanded far beyond their early uses in mapping and surveying, emerging as a key driver of innovation and growth. But what is geospatial data doing for us now, in real terms? Here’s a glimpse:

Urban planning

Cities are living entities that require constant adaptation and planning. Geospatial data analysis allows urban planners to design more efficient and sustainable cities by analyzing factors such as population density, traffic patterns, and environmental impact. This data-driven approach ensures that infrastructure development is not only reactive but also proactive, anticipating future needs.

Environmental management

The environment is in a state of constant change, and understanding these changes is crucial for conservation and disaster response. Geospatial data enables environmental agencies to monitor deforestation, track wildlife migration, and identify the impacts of climate change. Geographic insight fuels informed decision-making for protecting ecosystems and human communities alike.

Retail 

For retailers, geospatial data, like POI datasets, are highly valuable. For retailers to identify and analyze shopping areas, assess new business opportunities, evaluate competitors by observing traffic around their stores, and monitor the performance of their locations, they rely on geospatial insights. Starting with POI data as the foundational piece to these analyses, retailers first get a sense of space and where places are. Layered with other geospatial data, such as foot traffic, they can decipher consumer behavior by getting a true understanding of where people go and the places they interact with. With that kind of geospatial information, retailers can boost profits, enhance customer experiences, and optimize store investments.

Advertising and marketing

POI data is invaluable for advertisers and marketers aiming to create more effective campaigns. Whether it's awareness, hyperlocal, drive-to-store, or Digital Out-of-Home (DOOH) campaigns, up-to-date POI datasets help avoid wasted impressions and ensure ads reach the right audience at the right time. This precision in targeting leads to more successful and cost-effective marketing efforts.

Real Estate and property management

Real estate professionals can use geospatial data to provide clients with detailed insights into neighborhood amenities, such as schools, grocery stores, and attractions. This information is crucial for property investments and pricing and for identifying new potential site locations with promising attributes.

Local governments and public institutions

For local governments, geospatial data offers a powerful tool for improving public services. It can help identify gaps in resources, track economic trends, and assess traffic patterns, providing the necessary insights to enhance community planning and infrastructure development.

Insurance and financial services 

Financial institutions and insurance companies can use POI data combined with mobility intelligence to enhance risk assessment, policy formulation, and investment strategies. Hedge fund managers, for instance, can analyze a brand's financial performance by correlating stock tickers with mobility and transaction patterns at specific POIs, leading to more informed investment decisions.

Who would’ve thought data about where things are could drive so much of our world? And guess what — this is just the beginning.

The future of geospatial data: What lies ahead?

To fully understand what geospatial data is, we must go beyond its technical definition and recognize the transformative potential it holds for shaping the future.

As spatial data continues to establish itself as a key enabler in how businesses operate, its impact will only keep growing.

In the financial services industry, geospatial data is already becoming an important tool for detecting fraud, assessing risk, and optimizing investments. As data sharing becomes more secure and integrated, the financial sector will increasingly rely on geospatial insights to make more accurate predictions and strategic decisions.

Moreover, the impact of geospatial data on climate change cannot be overstated. By providing detailed insights into environmental conditions and risks, geospatial data will help governments and organizations make informed decisions that protect lives, infrastructure, and natural resources. 

The challenge is to make geospatial data accurate, accessible, and understandable so that its full potential can be realized across all sectors.

That is precisely where Echo Analytics steps in.

Echo Analytics: Delivering reliable geospatial data for actionable insights

Reliable geospatial and location intelligence data have been proven indispensable in the race to stay ahead. And that’s key here: “reliable.” Because bad data is worse than no data at all.

IBM estimates the yearly cost of poor-quality data in the US at $3.1 trillion.

Often, companies find themselves drowning in an ocean of geospatial data and struggling to draw actionable insights.

Why? According to a global survey by Salesforce last year, “33% of business leaders said they can’t generate meaningful insights from their data, and 30% said they were overwhelmed by the volume.”

The common culprits:

- Complexity (read: overwhelming amounts of data, siloed data storage, and multiple formats)

- Excessive costs

- Significant time constraints

The need is to remove barriers to data access so that businesses are empowered to accelerate decisions and forge breakthrough solutions and services. In an era of information abundance, the real advantage lies not just in accessing data but in discerning its intrinsic value.

At Echo Analytics, data quality and accuracy aren’t just features; they are the foundation. Our mission is to push the boundaries of this technology, making it more integrated, accessible, and actionable for businesses and organizations worldwide, all while securing privacy.

We believe that the future of geospatial data lies in its integration with other cutting-edge technologies like AI and Machine Learning tools. By collaborating with partners like Esri and other industry leaders, we aim to develop innovative solutions that leverage geospatial data to solve real-world problems.

At this point, it wouldn’t be an overstatement to say that without geospatial data, businesses run blind. Explore what geospatial data is and what it can achieve with Echo Analytics.