It is a continuous effort to up your game and bag new customers. One of the ways that can help you grow your business is through mapping applications, where you can map your suppliers, the location of your potential customers, your current loyal customers, and the exact territory where the demand for a particular product is rising.
Mapping applications like Dynamics 365 map can help visualize your business even better. Here are 6 industries that need mapping applications to grow their business.
- Supply Chain Management:
If you have a global supply chain then you need a global map to point out your suppliers and workers on the map. It creates transparency and visibility among investors and consumers.
Mapping helps you make informed business decisions and helps prevent risks. Using this information, you can build a long-term partnership with the supplier, upscaling your business. This also enables you to support suppliers whenever needed. You can make decisions based on facts, as it helps you a lot in understanding the customer’s needs.
It allows you to solve problems beforehand. Like when suppliers face a shortage, an order gets lost in the system, or when there is a sudden demand for a particular product.
It also helps identify where quality value is added or lost, as the transportation of raw material could be the reason for a slow production.
It helps to strengthen the supply chain, thus strengthening your target goals.
It also allows you to speed up and streamline the processes. By analyzing the entities in the chain, you can spot where delays originated and focus on fixing them.
- Insurance:
Mapping applications help insurance companies in several ways. The layered geographical insight helps these firms with a whole different level of operational insight. In the case of a calamity, where all the affected people claim their insurance at one point, they need to submit a claim request. Then this application comes to the rescue. Mapping application helps customers to remain safe and be distanced from the affected area as well.
It helps with mapping policy locations, analyzing risk exposure, and monitoring emergencies.
It helps with different kinds of management like:
- Risk Assessment: With higher risk comes higher premiums. Like people living on a coastline area where hurricanes are common will pay high premiums.
- Claims Management: This involves compensation, restoration and repayment in response to the damage caused. It helps locate the exact location of the calamity, and the location of the customers.
- Insurance Underwriting: It evaluates risks and exposure for potential clients. Getting locations helps to target places with higher calamity risk areas, resulting in targeted sales and marketing.
- Insurance Fraud: It can be used in case of misinterpretation, to get a higher claim and misrepresent an area of lower premium as their false address.
- Forestry and Timber:
To best utilize the land, you need to analyze the land carefully, whether it is fertile or barren . You need to find out the different areas, preserve ecosystems, plan harvest, and do many more things.
Mapping helps in utilizing and re-establishing biodiversity, especially in the case of flora and fauna.
It helps with afforestation and other regenerating programs as well. If forest land plots are mapped, it also allows the species to thrive. Mapping can help in marking the annual rainfall, minimum and maximum temperatures, and other weather conditions. It also allows you to know the severity of the season and help the people accordingly.
It also helps collect data for preserving ecosystems, like knowing the exact location and figuring out an exact number of species. Having this information helps in forest preservation and identifying negative impacts.
Forests are being used for timber harvesting. Tracking soil type, forest type, and getting to know the cost-benefit, helps monitor the harvesting process as well.
- Urban Planning:
Planning a city is more strategic, simply identifying the vacant space and constructing buildings is of no use. Urban planning should be sustainable. Strategic and well-planned placement of buildings, governmental, public, or residential helps improve the quality of life of the citizens.
As urbanization happened, cities and towns started flourishing and planners had less space as the time progressed. When they need to add or replace infrastructures like a road, or a building, developers must account for the impact on animals and plant life as well. To responsibly accommodate a community while minimizing the harm caused to the existing structures is what is called sustainable development.
Historic structures also need to be managed. These days planners rely on technology to help them with the same.
Planners can review the space and plan a city. The mapping may help identify the best places for wind, solar or other renewable energy and help the developers build more renewable structures. It starts working with small infrastructures on a smaller scale, like optimizing a parking lot with a solar roof, or a charging station for electric cars.
- Banking:
To choose the branch’s location, banks need to carefully consider all the possible factors such as potential customer base and local crime rates.
As customers are more inclined toward online services and trends, there are many changes in consumer preferences, financial institutions. That’s why banks need to make strategic decisions.
In most cases, institutions need to consolidate a few branches and need to boost profitability. To know which branches are not functioning properly, and which are still functional, you need a mapping application.
Mapping applications make it easier for banks to identify locations with lower utilization rates, and with higher loan default rates. This gives them a chance to compete better with the competitors.
Mapping applications can also be used to map out demographics which help you see the areas that are most in need of specific products. Say, a place with high rates of car ownership also has a greater need for auto insurance.
- Health and Human Service:
Healthcare services help identify health trends. With the number of chronic diseases rising like cancer, diabetes, and cardiovascular disease. Mapping applications provide a way to get the address and get a rough idea of the territory if a disease is spreading in a particular area, then we can fix it in a much shorter duration of time if detected early. Like coronavirus, it started in China and spread to other countries. We know the exact locations where and when it originated and how it spread to the whole world later on. So, it helps track the spread of infectious diseases.
It also helps with utilizing personal technology. In the form of wearables where a person gets to know a lot about their health. Such wearables, track your location and calculate your distance traveled by walking, running, or jogging. It also helps with step count, like how many kilometers have you walked and so on. It’s a great insight into your health. It helps get to the health services quickly to your location. Like emergency services such as ambulances, fire engines, police services, and many more.
Conclusion:
The mapping application is a powerful tool that has helped many industries to optimize their functioning. It is used in almost every industry these days. From any delivery app to insurance and health to every other industry you can think of, mapping applications are used in them. It helps save lives, map the exact address, and also with analyzing an upcoming future trend. It also helps with mapping exact territories where your business is growing the most. Overall, it helps you plan your business and grow accordingly.