Have you come across the phrase:
“Separating the wheat from the chaff.”
It means sorting the valuable from the worthless. I’m struck by its relevance to the Geospatial 2.0 conversation. As we explore the evolution of 2.0, there are some obvious indicators on who will be the winners and who will be the losers.
Let’s explore ….
Winners and Losers ..
Before we begin, the definition of Geospatial 2.0:
The promise of Geospatial 2.0 is to improve the speed and accuracy of decision-making. We live in a dynamic, rapidly changing world. These changes all happen somewhere. Geospatial 2.0 leverages new data and technology, moving organizations from reactive to proactive.
Here are the 7 Geospatial 2.0 winning strategies:
1) The “We can provide whatever you need” message
Solution Provider: “Whatever your problem, our location platform can provide a solution”.
Solution Provider: We are aggregating static and real-time data feeds to monitor and mitigate risk. Our dashboard provides insight to help drive action.
WIN = CLEAR MESSAGE AND DELIVERABLE
2) The ‘leaning back towards the Geospatial 1.0 model’
Solution Provider: We will use partnerships with Geospatial 1.0 companies to help us build our business.
Solution Provider: We are building relationships within the Geospatial 2.0 community. Our goal is collaboration and synergy building with both large and small Geospatial 2.0 companies.
WIN = NEW 2.0 RELATIONSHIPS
3) The lack of why
Solution Provider: We use location-based technology to map fires
Solution Provider: We are in business to help save property and lives from wildfires by providing early warnings of fire danger. As an example, we warned authorities about the xyz fire 30 minutes before the first 911 call was received. Allowing authorities to take fast action to prevent the fires spread.
WIN = SHARED PURPOSE/BELIEF
4) The promise of AI without the deliverable’s
Solution Provider: We are an AI powered company.
Solution Provider: We process large volumes of location-based data with AI to provide deeper, faster insight to retailers challenged by changes in consumer behaviour due to COVID-19.
WIN = DELIVER ON AI (NOT SIMPLY THE PROMISE)
5) Lack of focus (and strategy)
Solution Provider: We can predict customer behaviour, as a hurricane approaches show you land most likely to flood, and help you choose the best location in Chicago for your new Starbucks.
Solution Provider: We are consumer behaviour experts. For example, using shopper location data, we provided product company X insight on where high end shoppers spend their money in Chicago to help them with product placement.
WIN = FOCUS
6) The empty promises syndrome
Solution provider: “Based on what you describe, we can definitely solve your problem”
Customer: “Can you show me an example”.
Solution provider: “Not exactly, but something (we think) is similar”.
Solution provider: As an agricultural insurance company we recognise how important crop prediction is to your business. We are applying radar technology, originally developed by the military, to monitor changes in crops over time to help predict harvests. Let us show you the intuitive dashboard we have developed.
WIN = DEMONSTRATE VALUE
Also Read: The importance of AI to Geospatial 2.0
7) The fast exit priority
Solution provider: Our goal is to be sold to Esri, Hexagon or another big geospatial company as quickly as possible.
WIN = PRIORITIZE THE BUSINESS OUTCOMES DELIVERED BY YOUR SOLUTION
There you have it. Geospatial 2.0 offers a huge opportunity to improve how customers solve problems: fast, accurate decision-making using location data and AI. It is an evolving space. Many solution providers are still figuring out their place.
The above provides some guidance on the path winners (and losers) will ultimately follow. We set up Whyofthere.com, to help guide those who will ultimately be the winners. That is Geospatial 2.0 companies directly and those looking to invest in 2.0 companies (M&A, VC’s and private equity).
Geospatial 2.0 offers incredible opportunities. Those who overcome the challenges will be the household names of tomorrow, helping to improve our world.