Often where an event happens can be just as important if not more important than the event itself. In fact, an event’s location or geographic relationship to other events can significantly affect the results or implications of many performance indicators.
For example, the consequences of an underperforming asset in an urban location may be very different from one in a rural location when it comes to the effects on customers, employees and financial performance. Moreover, outcome-based measures such as the revenue generated by a retail store are strongly influenced by location because location typically dictates trade area demographics, proximity to competition, transportation facilities, associated customer travel times, and other cultural and physical landscape feature relationships.
Location is very much an integral part of knowledge management. Issues, events, problems and opportunities all occur in places (the where) and occupy space (the extent). Knowledge of events, business transactions or government polices and the subsequent quantification of performance or impact is of little value without knowing where things occur. Likewise, being able to predict where things will occur provides tremendous strategic value in achieving desired future outcomes.