INDIANAPOLIS (WISH) — Concerns over data, privacy, and user experience are common in the digital sphere, but research shows that most companies that collect and use location data believe it will become more significant.
A recent study by Boston Consultant Group indicated that 9 out of 10 executives worldwide who use location data believe it will become even more important over the next three to five years.
Nelson Spade, general manager of Circulus Digital Media, gave his insight on the future of location data.
Spade says businesses will need to continue to meet the consumer’s need for data and privacy going forward.
“It really comes down to two ways. If you’re using the data down to a specific person…it has to be opt in data. The user has to give you their permission to say, ‘Yes, I’ll share my specific location.’ Think of going to pick up your groceries — it’s a benefit to the consumer and the business to say, ‘Hey, Scott’s five minutes away, get the grocery order ready.’ It’s best for both,” Spade said.
Spade added, “I really think the depersonalization of data and using that data on the masses–predictive intelligence, or making a decision for your business based on a large volume of data–is really the future moving forward.”
To watch the entire segment, click on the video.
Circulus Digital Media is the market leader in local advertising. We democratize advanced media for small-to-medium businesses. Our local media solutions and best-in-class suite of advertising products are fueled by industry-leading data providers and ad quality monitoring systems that drive meaningful business results.