GIS benefits to Banking Industries

08-Dec-2016
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GIS importance with rapid development of science and technology, Geographic Information System (GIS) becomes important and essential application to help an organization to make decision for their business based on geographic information.

GIS plays an important role in banking industry to achieve bank business objectives by providing support in decision-making & strategic planning. Here, we discuss some of the areas that banks may use GIS to understand their data better.

Site Selection for New Branches/Facilities

Finding a new retail site is not always difficult work; where there’s a shopping area, open a door. However, finding a site that’s likely to be profitable can take more than simple local intelligence. GIS is a powerful spatial statistical and location management tool, which means it’s brilliant at dealing with comprehensive data such as interaction between demographic census and household purchasing behaviour. GIS has already proven it’s ability to help in site decision making as well, especially in the US, with brands like Starbucks, Blockbuster, Sears using census data, and GIS applications to help them understand what characteristic of people buy their products and services and how to better approach these consumers.

Target Market Campaign Enhancement

Some retailers need to deliver localized advertising, and banks need to establish credit card applications in kiosks. Using GIS with rich points of interest, campaigns can be assessed as to whether or not they meet certain geographic and demographic criteria and can be scored according to the corresponding potential. Take bank appraisals as example, after suffering a flooding disaster, GIS application software is able to mark that disaster area on map instantly, so that when a customer from that area applies for property appraisal, front desk dealers are able to deliver quick responses and drop the property values through their systems in a matter of just a few seconds.

GIS brings a lot of benefits to different industries including banks industry. Through benefits explained as above, GIS able to help you understand your data well. Besides, GIS plays an important role to achieve business objectives such as:

  • Expansion of customer base based on marketing campaign.
  • Consistent business growth
  • Increase customer satisfaction
  • To make accurate analysis of real-world to reduce business complexity

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