Image by DarkWorkX from PixabayPrecisely has expanded its unique location identifier, the PreciselyID, for its World Points of Interest (POI) data offering. It means that the PreciselyID is now tagged across more locations globally. It provides a single reference point for data exploration.

Point of Interest includes business locations and non-businesses in more than 200 countries. The PreciselyID is now available in more Points of Interest located in the US, Canada, Belgium, Luxembourg, the Netherlands, the United Kingdom, Ireland, France, Sweden, and Singapore. It will allow Precisely customers to bring together data sets with accurate geolocation information. it further strengthens the quality and insights that the data can provide.

PreciselyID

The PreciselyID is mapped against any business or feature at the location and the location itself. It means that whilst addresses may vary, the business and location remain constantly located. For insights relying on Geographical data, this is important and means that accurate information is always available for analytics providing integrity within the data.

The PreciselyID differs from other address identifiers as it can reflect the change in attributes should a business close and a new one open at the same location. Businesses that use addresses as their primary data input will always have the most accurate data about that point of interest without needing geospatial tools or specialized skillsets.

It helps address the challenges highlighted by Google. It recently revealed it removed seven million fake business profiles, 630,000 of which were reported directly to Google. Using accurate data, it prevented 12 million more from being created by bad actors throughout 2021 alone. There is little reason to believe that this war on fraud did not continue into 2022.

Dan Adams, SVP – Data and Operations at Precisely
Dan Adams, SVP – Data and Operations at Precisely

Dan Adams, SVP – Data and Operations at Precisely, commented, “Businesses today need reliable answers about the world around them. If a clothing boutique closes, and the location becomes a coffee shop, it has an impact on the level of traffic, and types of shoppers, workers, and visitors to that area. That’s why we associate the PreciselyID with an address and location, so our customers always have access to accurate, verified, and standardized data for detailed insights that matter to their business.”

Why is this important

The pandemic, lockdowns and rising prices, especially travel costs, have changed habits worldwide. The habits that have changed include shopping, work and travel behaviours. Many are travelling less and/or differently than they have before. Different business sectors need to understand more accurately where people travel and why for various reasons.

  • Retail: The need to understand footfall and consumer presence in different and new areas. This can help identify successful competitors and where shops should close, open or merge.
  • Financial Services: Validating merchant data and understanding behaviours to better advise the customer and provide information for investments.
  • Insurance: To better understand adjacent risk. Identify neighbours that might indicate a higher risk, such as forests, chemical plants or other.
  • Telecommunications: Key for understanding the dynamics of people in transitions, where are people congregating or the corridors of travel to ensure coverage of 5G is sufficient for every eventuality
  • Public Sector: A greater understanding of where citizens work, shop, rest and play indicates how to invest in public transport, emergency services and public services.

Combining POIs and PreciselyID enables customers to enrich their data records with accurate data for further analysis. The Precisely portfolio includes over 400 datasets containing more than 9,000 attributes. This data allows Precisely customers to can supplement their own data sets to provide location-based intelligence and insights far beyond what they could before. It also delivers a much bigger trust in the accuracy of the location data.

Enterprise Times: What does this mean

With Points of Interest consisting of over 18,000 attributes, the company will look to expand PreciselyID over time. The company has not indicated which regions it expects them to be available for but is promising more countries soon. Possible regions include Germany, France, Japan and Australia, where Precisely already has offices.

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