Data quality and availability, along with shifting customer loyalty are some of the major challenges to growth in the current environment. That is why our focus in the near future will be on new product/ service launches and new strategic alliances/ M&As. We provide imagery processing services for object detection and classification in satellite and aerial imagery. We do not sell data, and instead provide analytics, which means that the operational cost is less and the delivery to customers is quicker.
We are fond of open data technologies, community-based platforms such as OpenStreetMap and enterprise-based platforms like Microsoft and Facebook. These create a more competitive environment for all value-added service providers and force small startups to make faster growth and test different hypotheses.
Focus on R&D
We are at the early stage of our product, so we do plan to invest in Research and Development, and also engage other partners to invest through collaborative projects. The project that we are currently looking at is a collaborative one with the Russian Post, which has more than 40,000 post offices all over the country and 26 million address locations. They require a bunch of location-based services and accurate mapping data.
We are at the cutting edge of scalable ‘AI mapping’, the technology to extract features from imagery using computer vision algorithms on CNN architecture. The most challenging and interesting part of the operations is to find ways to attract new customers and get their trust in new automatic digitalization. We provide instant analysis of any location in the world on satellite and aerial imagery and track changes. Data analysts, developers and decision-makers can use our platform to process imagery and download results in the form of reports or GIS ready data. As of today, we see integration of cognitive technologies, piloting emerging technologies, attracting new talent and optimal use of data analytics as the biggest technology challenges that we need to overcome.
Knowledge to counter economic challenges
Geospatial data and technologies help industries and governments increase productivity and reduce wastage. Efficient use of these technologies can help in minimizing the impact of a global recession. From economic theories and practice cases, we know that one of the methods for better investments is asset distribution. We can confidently say that with better knowledge of global markets and environment, one can distribute better and invest in developing markets that will have grown by tomorrow. So, it is important to know about the world economy through maps.
As far as GeoAlert is concerned, we are currently too small to be feeling the impact of a global economic downturn. We are somewhat sure of growing our business in this uncertain environment. So far, there are no plans of internal restructuring, as we want to stick to the basics and keep doing what we do well. The next phase of growth for the geospatial industry will come from new users outside the traditional market, and we will be keeping a close watch on this trend.