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Value of geospatial information in economy

In an exclusive interview with GeoBuiz Ed Kennedy Senior Associate Hickling Arthurs Low Corporation explains value of geospatial information in economy. The study was commissioned by Natural Resources Canada between mid 2013 to March 2015.The purpose of the study was to bring up to date profile of the geomatics sector in Canada to identify changes in the market  With this study, geospatial information was used for the first time to estimate the entire Canadian economy. We did an exhaustive literature review and in depth case studies in 14 different sectors of the economy. We had an expert panel that brought in expertise from both the geospatial community and the economics community. Combination of all of these methodologies allowed us to create a current profile of the sector. The key trend was the change in the nature of the user community. We found that geospatial information is becoming completely embedded in  business supply chains. There is proliferation of satellite imagery from all sources both commercial and government side. The primary reason for the study was to provide a foundation for the development of Pan-Canadian Geomatics Strategy .The strategy has now been implemented by a new organization in Canada called Geo Alliance Canada. The study provides a template to evaluate the use of geospatial information. We partnered with an Australian company, Allen Consulting group and used economic modelling process for the project. The study provides a road map to evaluate and assure the results of evaluation for the economic impact. Geospatial information is an important part of the Internet of Things. Location is a way of combining information from many different sources and sensors. Location is a good means of integrating and analyzing information. In the Big data community there’s a record growing recognition of the power of geospatial information. Analytics through the geospatial lens is at a relatively early stage.