So your phone knows where you are. But how valuable is mobile location information and what uses can it be put to? Putting aside B2B operational uses (such as mobile workforce management) for a moment, there a variety of B2C applications. Morey, Forbath and Schoop in their Harvard Business Review article identify 3 main categories of B2C data use. Location information fits into these categories well:
The benefits are distributed on a spectrum between the company and the consumer in varying amounts. For businesses the holy grail is to create apps that feature all three. The better the product, the more likely consumers are to keep using it. More individual revenue streams mean increased profitability (or faster break-even) and a more robust offering that can pivot quickly as business models change, disruptors emerge and the revenue flows take a different path.
Andrew Keevil assists technology companies with strategy and marketing, specialising in new proposition development.