3 Things Location Intelligence Can Do for Food Delivery Businesses
Location is an important aspect of any company’s business strategy. As a customer, when searching for directions to a store or restaurant, you want to find the best route if it’s a new place you’re going to. When ordering online, you enter your location and find nearby shops or restaurants delivering. This is where location intelligence comes in.
How does location intelligence help a business? Figuring out the right location is important for any retail business. Food and beverage businesses face this problem regularly because if they want to open a new pop-up or cafe, they need to find an ideal location where their potential customers can easily access them.
Similarly, such businesses also have to use geomarketing or effectively tailored products that they can offer to potential customers based on their target areas. This also helps business expansion in those areas. Many of these issues faced by restaurants or food delivery businesses can be solved with location intelligence.
In this guide, we’ll take a look at what location intelligence is. After that, we’ll discuss how location intelligence can help in unique food delivery cases and solve those problems for businesses and customers in multiple ways. For location intelligence analytics solutions, you can check out PREDIK Data-Driven.
What is Location Intelligence?
Location intelligence is essentially uncovering meaningful insights by visualizing and analyzing spatial data. It helps solves multiple problems, particularly location-specific ones, across various industries.
Location intelligence can be used to make better business decisions, answer questions that start with “where,” improve customer experience and enhance business processes. It provides companies with operational and analytical solutions.
Businesses can also use various complexities and situations and find solutions by analyzing location-based data. It helps them optimize operations and find lucrative business opportunities.
How Location Intelligence Helps Food Delivery Businesses
Taking Advantage of an Opportunity
Let’s assume that a food delivery business operates on knowing the specific locations of its target customers. Here, location intelligence will contribute in different ways. Most businesses have addresses of where their customers work or live. Customers have to provide an address to their favorite restaurants for easy delivery.
If a customer is in an area where none of the restaurants they usually order from can deliver, what can food delivery outlets do for this customer? They can change their delivery parameter and use location intelligence to satisfy loyal customers. This makes a huge difference for the customer, and it’s a great opportunity for business growth.
Generating Useful Insights
Generating or extracting actionable insights from huge volumes of data is crucial for any business. It allows them to make better decisions and act wisely. When it comes to location-specific data, you still need to generate useful insights for making the right decisions.
If food delivery businesses know all the areas where their customers live, they can expand their business and make the most out of those locations. Knowing more about those areas also helps businesses learn more about the context of what customers in certain locations prefer when it comes to a certain food delivery business.
Similarly, knowing more about customers in various locations with the help of location intelligence analytics also helps businesses improve their marketing efforts by prioritizing particular areas.
They can also find the most valuable customers depending on how many orders they get from a particular area. Additionally, if businesses learn that certain areas have complained about delayed orders, they can use this information to improve customer satisfaction in that location.
Food delivery businesses often deliver in a certain zone, but the delivery prices are high for that zone. This is because some areas are farther away from the main restaurant, cafe, or shop. Hence, the delivery charges vary for locations at greater distances.
With location intelligence, businesses can streamline their processes and operations. If they discover that a location has a lot of potential customers, but the delivery charges are high for that area, they can choose to open a new branch there.
Importance of Location Intelligence for Food Delivery Businesses
Restaurants or other food businesses can’t just rely on their on-premises sales. The global food delivery industry generated around $323 billion in 2022. Many restaurants are now earning enough through off-premises sales as that is what customers prefer now.
From Uber Eats to FoodPanda, many different food delivery brands are flourishing thanks to location intelligence solutions and the rapid pace of this industry. The US food delivery industry’s market value is expected to reach $231 billion by 2023.
Get started with PREDIK Data-Driven if you want to incorporate location intelligence analytics for your food delivery business. They are a big data analytics company and research firm based in the US and have been serving clients in various parts of the world.
With their advanced data science solutions, you can expand your business, improve operations, enhance customer experience, and make better decisions. Check out their services today, including site selection analytics and supply chain mapping. They offer a variety of advanced solutions in various niches.
Reach out to them or request a demo today.