Using Geocoding To Improve Business Efficiency

published on: May 27, 2024 last updated on: May 28, 2024
Using Geocoding To Improve Business Efficiency

The internet has effectively shrunk the business world. It’s much easier to set up a business and sell to customers across the globe using the Internet. 

In effect, it’s made it simple for small businesses to compete with multinational corporations. Of course, the easier it is to compete, the more you need to focus on business efficiency.

An efficient business can keep costs down, allowing them to minimise selling price while maintaining quality and profits. Geocoding is offered by Google Maps. It’s effective, but combined with third-party software like Address, you get precision and the best possible results.

What Is Geocoding?

Geocoding is simply the process of taking information about a location and turning it into an exact location. 

The information could be coordinates, an address, or even the name of a place. You’ve probably used it without realizing when you enter an address into Google Maps, it shows you where the address is and how to get there.

Third-party software works with Google Maps to take this a step further. The location is verified and extremely accurate. 

More importantly, for businesses, you can enter multiple details into the system to show the location of many customers at the same time. This allows you to see where your customers are located and to identify any common information or patterns.

Geocoding Process

This section discusses some of the processes linked with geocoding. However, some basic principles apply to geographic coordinates. 

1. Acquisition and preparation of the Geocoding data.

2. Geocode Data with the help of a locator.

3. Reviewing the geocoded data.

Acquisition And Preparation Of The Geocoding Data

Geographic descriptions can be obtained from different sources, typically a text-based or separate spreadsheet table.

 Moreover, they are exported from the existing database or as a standalone file. However, researchers may often employ surveys and extract addresses from people. 

The locations can be text-mined from unstructured textual data. Again, the addresses can usually be input as single or multiple fields like city, state, and postcode. 

Either of the methodologies or approaches work well, but the multiple address fields tend to provide better results. 

Geocode Data With The Help Of A Locator

After preparing the geocoding data, the experts must run them using a locator. Yes, it is specialized software that uses reference data like known location points.

The reference data are organized and designed for the different types of locators. Hence, the locators are as effective as the reference data and are also dependent on its accuracy and currency.  

Reviewing The Geocoded Data 

After completing the geocoding processes with the selected locators, it is recommended that one systematically review the wellness of data matching. Apart from these, there are many considerations.  

First, you must check the description sub-sets against the reference database. It helps ensure data consistency. After that, you need to carry out a thorough check and thereafter ensure that geographic anomalies are absent.

If the match scoring is available, then you have to review the pinpoint of the proper location besides reviewing the tied matches. Finally, you have to use the reference data to perform spatial selections and then join to ensure the proper placement.   

Business efficiency

There are several ways in which geocoding, combined with the appropriate third-party software:

Speeds Up Customer Input:

 In a highly competitive marketplace, it can be difficult to attract customer attention. 

Once you’ve mastered that, you need to retain their interest. That involves having a well-laid-out website and an easy-to-use ordering process.

Geocoding allows your site to suggest and/or complete addresses for your customers. This reduces the time and effort they need to create an account and start ordering, making you more likely to keep them on your site and order from you.

Reduces Postage Costs: 

Being able to accurately verify a delivery address means you’ll be sending your parcels to the right place

That means no more surprise returns which cost you postage, both in the wasted first dispatch and the secondary dispatch after confirming the address. Dealing with the return and confirming the correct address also takes time, reducing the productivity of your staff.

In addition, you’ll be better at delivering parcels quickly, which will improve your reputation and the likelihood of your customers recommending you to others.

Improved Market Analysis: 

Understanding your target customer is critical to product development and your marketing strategies. 

Geocoding can show you where your customers are located and associated patterns. These can be extremely useful when creating your next marketing strategy

It will assist you in what adverts to create and how to contact potential customers, as well as knowing where and when to contact them. In short, you’ll get better returns on your marketing investments.

Helps Prevent Fraud: 

Online fraud is increasing, and businesses need to do everything they can to protect themselves. Banks use geocoding to monitor people’s spending habits. 

This allows them to react quickly if something happens outside of their norm. The information can help detect cases of identity theft.

Businesses can also use this approach to detect potentially fraudulent orders. In most cases, the delivery address doesn’t match the cardholder’s address. This allows you to check further and avoid sending a parcel to someone who has no intention of paying for the goods.

Tracked Deliveries: 

We live in a digital world where instant gratification has become the norm. You can’t usually deliver instantly. 

However, if your courier service uses geocoding, your customers will be able to track the location of their order as it travels to them. This makes the process more transparent and encourages trust and loyalty in your customers. 

You’ll also be able to track the parcel to ensure it’s delivered within the timeframe agreed by your courier service.

Application Of Geocoding 

In ths section, we discuss some of the main applications of geocoding, which can be of great benefit to you, so let’s understand them. 

Data Analysis with the help of Geocoded Address

With the help of a geocoded address, you can display the location address and then identify the patterns within the key information. You can do this by looking at the information or using some of the analysis tools. 

Distributed Geocoding Applications 

Distributed geocoding applications include everything from collecting address locators via sharing compressed files to the development of online applications. Ultimately, they allow users to decode geocoding over the Internet. 

Customer Data Management With The Help of geocoding 

Geocoding is an important part of customer data management. Organizations must maintain address information for every customer or client. This usually happens in a tabular format, using the address, buying habits, and other information that you have procured. 

Apart from these mentioned, geocoding finds its application in search engines, mapping software, geotagging images and online videos, and, most importantly, data analysis. Therefore, geocoding finds a successful application and is bringing about change. 

Summing Up

If your business isn’t using third-party geocoding, such as that offered by Address4, it’s time to start. It is likely to save your business money and improve customer relations. Those are two critical elements in the battle to be a successful and reputable business.

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