How Location Analytics Will Change Retail

Location Analytics as the name suggests is a term related to location. It is also called as location intelligence. Location Analytics can be defined as a term which has the ability to gain business insight from the business data based on the location. There are multiple types of business insights and also there are multiple ways to gain business insight. 

As we know that there are many international retail firms are using many traditional tactics to know the behavior of their customer so that they can serve them a better experience and indirectly they are increasing their customer base. In this Location Analytics is the newest tool in the market which is very much improved and advanced and not bonded by any location, with the use of this tool one can remotely track the behavior of their customer and can act along to provide them better service. So location analytics has become an essential tool for understanding online customer behaviors. 

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Regardless of its success worldwide there are relatively very few companies with large physical venues employ advanced analytics solutions that helps them to track customer behaviors. As a result most of the companies we can say are flying blind when it comes to understanding their customers in the digital world.

There are many business venue owners  from retail to airports to education to amusement parks are trying their hands on this by applying insights gathered from location analytics to all aspects of their businesses including:

1) Design:

After analyzing traffic flows in their stores, a big box retailer realized that there are some problems with the shoe department as there is problem for customer to access the goods as it was stacked by the merchandise and due to it customer access is limited. After analyzing the merchandise were relocated to increase accessibility of the customer and the next week there was a positive effect, sales was increased by double digits.

2) Marketing:

A restaurant chain wanted to understand that whether or not sponsoring to a local music awards had a positive impact on customer visits in their restaurant. They have captured the data and they have found that among the 15,000 visitors of the festival entrances 1300 visitors have also been visited in their restaurant in last month so they concluded that the festival resulted in 1300 net new visitors.

3) Operations:

A retail grocery store chain makes the use of location analytics to know the customer wait times in various departments. This data not only hold managers accountable for wait times but also it gave additional insight for staffing needs for each department throughout the day

4) Strategy:

A regional clothing chain was concerned about opening an outlet store would directly affect customers from its main stores. They have analyzed their each store they have discovered that less than 2% of their main store customer visitors visited their outlet and the most impressing thing it found that the outlet gave them access to an entirely new customer base with small impact to existing store sales.

Location Analytics can also be used in other markets. Consumer goods and retail market has the highest share in the overall market. Location analytics, other than consumer goods and retail sector, has a wide investment in healthcare and life science, banking and insurance, government, defense and aerospace, utilities, and real estate verticals, manufacturing, travel and hospitality, transportation and logistics, telecommunication and IT, public sector and energy media and entertainment.

Market Report:

Location Analytics Market is expected to grow from $6.83 billion in 2014 to $11.84 billion by 2019, at a Compound Annual Growth Rate of 11.6% from 2014 to 2019. Asia Pacific and Middle East regions are growing rapidly with the respected CAGRs of 17.1% and 14.4%, respectively from 2014 to 2019.

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What is Flight Management System (FMS)?

A Flight Management System is also known by different names such as flight control system, flight management visual display, flight display computer, FMS and control display unit. A flight management system is very important component of a modern aircraft’s avionics. A Flight Management System is a specialized digital computer system that helps the pilot to automate wide variety of flight tasks and helps to reduce the workload of flight crew. In modern civilian aircraft FMS helps a lot as there is no need to carry flight engineers or navigators. 

A very first task or primary function of FMS is management of the flight plan stored in its database. To determine the aircraft's position FMS can guide the aircraft along the flight plan with the use of technology such as sensors like INS and GPS. Cockpit is a place where FMS is placed and from the cockpit FMS is normally controlled with the use of Control Display Unit which consists of a keyboard, small screen and a touch screen. After flight management of the flight plan FMS sends the flight plan to the Multifunction Display, Navigation Display and Electronic Flight Instrument System so that it can be displayed.

Characteristics of Flight Management System:

(1) Navigation database

All Flight Management Systems consists of a navigation database to store important information required for building a flight plan. 

The Navigation Database consists of following information.

• Holding patterns.
• Way points or intersections.
• Airways.
• Airports.        
• Radio navigation aids which consists of distance measuring equipment, instrument landing systems, VHF omnidirectional range and non directional beacons.
• Runways.
• Standard instrument departure.
• Instrument approach procedure.
• Standard terminal arrival.

(2) Flight Plan

The flight plan is a route by which the aircraft is going to travel and it is generally determined on the ground before the departure of the flight either by the pilot for smaller aircrafts or by a professional dispatcher for the commercial or cargo aircraft's. 

(3) Position Determination

Once you are in flight a most important task of the FMS is to determine the aircraft's position and about the accuracy of that position. Simple Flight Management System uses a single sensor or generally GPS in order to determine position but in modern FMS they are using many sensors as much as they can.

(4) Guidance

Once the flight plan and the aircraft's position are given or set in FMS, the FMS calculates the course or path to follow. The pilot can follow this path manually or he can set the mode as autopilot to follow the course.

(5) VNAV

VNAV stands for Vertical Navigation Many sophisticated aircrafts generally airliners such as the Boeing 737, Airbus A318 and larger have full performance Vertical Navigation. The work of VNAV is to predict and optimize the vertical path. 

Market Report:

The Flight Management Systems Market size is expected to be $1.8 billion by 2018. The market is expected to grow at a CAGR of 3% during the period of 2013 to 2018. US will be the fastest growing region.

http://www.prweb.com/releases/flight-management-systems/market/prweb11034988.htm 

What is Building Managent System? Commercial Airport Lighting Market Forecast and Analysis

Building Management System as the name suggests is the software system developed to manage building equipments. Building Management System is a computer software based control system which is installed in buildings which helps to control and monitors the building’s electrical and mechanical equipment such as power systems, lighting, ventilation, fire systems and security systems. 

Characteristics of Building Management System:

Building Management Systems are most commonly deployed on large scale projects with extensive electrical, mechanical and plumbing systems. Approximately 8% of total energy usage in the United States is believed to account from improperly configured BMS systems.

Sometimes there are many other things such as building access control, motion detectors and video surveillance systems such as closed circuit television (CCTV) to which BMS systems are linked. Many other times BMS systems are also used to monitor and control fire alarms and elevators. BMS is responsible to send elevators to the ground floor so that nobody can have access to it because of ventilation problem when fire is detected.   

Additional Uses of Building Management System: 

• It is used to control lighting.
• Control electric power.
• Ventilation, heating and Air Conditioning are also controlled by BMS.
• It is used for Security and observation purposes.
• Access control to doors.
• Can control Fire alarm system.
• Lifts, elevators are managed and controlled by BMS.
• CCTV’s are directly monitored by BMS.
• Many other engineering systems.

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Benefits of BMS:

• It has good control of internal comfort conditions.
• It is also possible to the control of individual room.
• It helps to increase staff productivity.
• It helps to monitor effectively and to reduce energy consumption.
• Improved plant reliability and life.
• It saves our time and money during the maintenance.
• Building owner can rent a house at higher value.
• Individual billing will be easy.
• Control and monitor building remotely or centrally.
• Time saving and comfort level increases.  
• Ease of maintenance.
• We can schedule maintenance computerized. 

When Building Management System is installed at airport for controlling its overall lighting infrastructure then it is also called as Airport Lighting. Adding operation and maintenance airport lighting holds the greatest potential for saving energy by reducing energy consumption at small airport terminals. 

Market Report:

http://www.marketsandmarkets.com/Market-Reports/airport-lighting-market-1060.html

The global Airport Lighting Market expected to grow from $909.9 million in 2013 to $1,221.7 million by 2018 at an estimated compound annual growth rate of 6.07% from 2013 to 2018. Middle East will be the largest Market of the airport lighting market in terms of revenue.

http://www.prweb.com/releases/airport-lighting/market/prweb10521467.htm