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1Spatial
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== LMDM opportunity: A rapidly changing market == Knowing where a physical asset, entity or building is located has become crucial and a key requirement for businesses and governments. The amount of location data generated has dramatically increased in recent years, with data generated from smartphones, IoT, automotive GPS, digital maps, Big Data etc. As a result, the market is rapidly transforming, with more companies using more location data from more sources in more formats for more use cases. One challenge facing companies today is that this wide and expanding variety and quantity of data is held in different data sets, in different silos, in different formats and different systems for different purposes. Some data are structured, some are not, and come from different technologies over different times. Efficiently managing and using this mix of location data can be complex, costly and difficult. This is where LMDM, specifically 1Spatial’s technology, comes into play. SPA’s platform is a set of software and components, including its 1Integrate rules engine, which allows clients to gather geospatial data from multiple sources across different systems. It helps check, cleanse, validate, update and analyse these data and provides the accurate location data that companies need. In fact, recent Harvard Business Review Analytic Services research showed that companies that implement master data management programs, which include location data, can ‘leverage their data as a ‘strategic asset’ to further their success – or even their survival – in a competitive business landscape.’ A primary cause of problems for companies today is inaccurate, incomplete, or inconsistent data. Managing data, whether it be location, customer or financial, and ensuring there is a single source of truth, is crucial to companies – a key theme driving demand for SPA’s solutions. '''Collaboration: Not just for an enterprise, but for the nation''' One key theme in the LMDM market is that of collaboration – the building of an ecosystem where companies and public agencies begin to share data with each other. Rather than keeping data siloed within one enterprise, it is shared with the community and nation. Historically, much of SPA’s business involved integrated data from different sources, but only within one company. Now, it is combining data from different companies and working with open platforms where companies share information. Geospatial data from these multiple sources and types are run through 1Integrate and 1Data Gateway, ensuring the information is accurate and kept up to date as it changes. As customers collaborate with various firms and their data, SPA plays a key part in supporting the ecosystem as it makes the needed connections between entities with their 1Spatial platform. An example of the importance of collaboration is with the NUAR contract. Here, the NUAR is a platform for sharing data (including geospatial) from numerous groups, including underground asset owners, utilities, etc, with others who need that information. The platform will accomplish three tasks as these groups collaborate with each other. First, asset owners will make their data available for planning excavations and safe digging. Second, planners and excavators will be able to easily access underground asset data. And third, information observed on site will be fed back to asset owners to improve their asset records, such as when someone excavates and discovers something new or that was not where they thought it would be. For instance, there are c 60,000 utility strikes per year in the UK, costing about £2.4bn annually. The NUAR should reduce utility strikes and improve the productivity and efficiency of those working with the data, with 1Spatial’s solutions working to manage all the location master data, ensuring it is correct, verified and updated. This theme of collaboration bears watching, because as more companies build apps to connect with each other and more portals are developed to share data among the larger community, the now connected group will need SPA’s tools and solutions to validate, correct and integrate even greater amounts of data.
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