Produced by Steve Nathans-Kelly
What are the key pain points that produce slow time to value with today's geospatial data technology implementations? Foursquare SVP of engineering Ankit Patel explained how to utilize geospatial data effectively during his presentation at Data Summit 2023.
“Geospatial data isn't being used to its full potential,” Patel said. “Less than a quarter, or around a quarter, of the companies in this room are actually leveraging location intelligence to its full potential.”
Slow time to value hinders the usage of geospatial data because it is costly, he explained. The first thing a company should do to transform data effectively with geospatial analysis, organizations need to put their data in some form of tile system to be able to overlay it.
“To create patterns, you typically need a lot of additional data sets that you don't have. You need to acquire these, you need to maintain them, you need to actually be able to use these, and they need to be of high-quality geospatial data, more like any other form of analysis,” Patel said.
Companies also need highly specialized individuals to work on this or geospatial experts. Most people who want to interpret results from geospatial analysis need to be geospatial experts.
“You need to have experts on your team to interpret the [data],” Patel noted.
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