Geospatial technology is emerging as a crucial domain for today's businesses

Businesses today live in a disruptive age where innovation is happening at an unprecedented pace. This speed of disruption is changing all walks of life as the progression of artificial intelligence, machine learning and robotics are transforming more quickly than human imagination. Geospatial technology is becoming ubiquitous today. It is an emerging field of study that involves geographic information systems (GIS), remote sensing (RS) and global positioning system (GPS). 

Geospatial technology allows businesses to make informed decisions based on the significance and priority of resources most of which are limited in nature. It can be leveraged to create intelligent maps and models and reveal spatial patterns embedded in massive data that may not be accessed collectively or mapped.

Geospatial Technology provides significant benefits such as simplification of complex data to improve decision making, maintaining transparency in data for citizen access, improved communication during the crisis for better crisis management, and managing natural resources. It also helps the government in making better decisions and discovering precautions before planning development changes in a community.

Geospatial technology is being integrated and accepted across diverse businesses and industries.

Healthcare: Using geospatial intelligence in the healthcare ecosystem provides an array of services. These include location-based intelligence, identification of new health trends, infectious disease tracking, healthcare data visualization and more. This technology also helps in asset management, regulatory compliance, workflow optimization, patient care and safety.

Utilities: Utility companies face increasing challenges of aging infrastructure and changing customer needs. By leveraging geographic information systems (GIS), utilities can make a difference in today's digital age. As GIS maps, manages and analyzes all aspects of companies' networks, it helps utilities to understand demographics, hazards, climate change impacts and competitive landscape.

Insurance: Innovative insurance leaders are using geospatial technologies to model risk to underwrite and set accurate premiums. They are such technologies to map out risk areas, predict potential disasters, assist claim management, with fraud detection. Leveraging geospatial technology also enables customer behavior monitoring while improving customer experience through better and timely communication when a disaster hits.

Disaster Management: Geospatial technology has a crucial role to play in disaster management. From natural disasters like earthquakes and floods to man-made disasters such as cyberattacks, terrorism and others, geospatial technologies can assist the governments to tackle the situation. For example, GIS can provide real-time tracking and mapping of highly-affected areas. 

Defense: Geospatial technologies are indispensable for surveillance, reconnaissance and target acquisition to maintain national security. Today's modern armies working in a digital battlefield environment use geospatial information of intelligent maps and geospatial data as the foundation to make effective command and control decisions. Essentially, geospatial technology brings the military on a digitized platform to combat both known and unknown threats.

Moreover, geospatial technology paves a new way of data collection through the miniaturization of sensors that are embedded in drones and mini-satellites. Relentless development in digital technology such as big data, cloud computing, artificial intelligence and IoT will significantly contribute to the growth of the geospatial industry.