Why Geo Analytics is the Future and not just an Option.
Back in the 1780s, when the Industrial Revolution occurred, the peasantry had no way of contributing to its evolution or be on the receiving end of its progress for they were constrained by lack of skill and knowledge. In the early years of the 20th century, the manufacturing boom, powered by the Assembly Line production, had no room for labor that was unskilled or skeptical of the modern methods. The computing revolution in the last decade of the same century eliminated paperwork and anyone who still wished to cling on to it from the collective workforce. Turns out, every breakthrough or innovation pertaining to commerce in the past had a tendency to isolate some segment of the population. However, things changed in 2009 when an enterprise in San Francisco decided to create services powered by technology solutions that brought everyone together. From the pioneers to the explorers, no consumer or worker was left out by the revolution. Since the inception of Uber in 2009, Gig Economy has come a long way. Inspiring annual user spending that amounts to $60bn in the US alone, one wonders where the next breakthrough lies?
The Next ‘Big Thing’?
Fortunately, the answer lies with us, as consumers, for our consumption habits are already dictating the next big thing in On-Demand Economy. Location based services have been in the offering for long by enterprises like Uber, Airbnb, InstaCart, and many others. However, these enterprises are now striving hard to use the location of their consumers to evaluate the trends pertaining to Geo Analytics, or data based on geography. This analytics contains information about where the user is, where they wish to avail the services, the probability of availing a service in a given location; and the trillion dollar question, where does the equilibrium lie for the supply and demand to coincide.
Unlike the breakthroughs mentioned earlier, the Gig-Economy has been successful in getting everyone together. According to a study carried out by the Harvard Business Review, more than 50% of the consumers constitute people who are either new to technology or skeptical of it. Another 25% comprises of the ones who resort to technology as their last option or are hesitant to adapt to new platforms. Thus, Gig Economy has managed to impress those who would have otherwise preferred waiting for a Yellow Taxi in Manhattan against ordering an Uber through their Smartphone.
What Geo Analytics brings to the Consumer?
You can read the complete Article here — Juggernaut.