GIS and its importance in the Economical field

For beginning with, what is GIS? It is a geographic information system (GIS) that integrates hardware, software, and data for capturing, managing, analyzing, and displaying all forms of geographically referenced information. GIS allows us to view, understand, uestion, interpret, and visualize data in many ways that reveal relationships, patterns, and trends in the form of maps, glo!es, reports, and charts. " GIS helps you answer uestions and solve pro!lems !y loo#ing at your data in a way that is uic#ly understood and easily shared. GIS technology can !e integrated into any enterprise information system framewor#. What are the advantages of GIS? $ne of the main !enefits of GIS is improved management of organization and resources. " GIS can lin# data sets together !y common locational data, such as addresses, which helps divisions and units share their data. %y creating a shared data!ase, one department can !enefit from the wor# of another&data can !e collected once and used many times. 'a#ing maps with GIS is much more fle(i!le than traditional manual or automated cartography approaches. " GIS creates maps from data pulled from data!ases. E(isting paper maps can !e digitized and translated into the GIS as well. )he GIS*!ased cartographic data!ase can !e !oth continuous and scale free. 'ap products can then !e created centered on any location, at any scale, and showing selected information sym!olized effectively to highlight specific characteristics. " map can !e created anytime to any scale for anyone, as long as you have the data. )he old adage +!etter information leads to !etter decisions+ is true for GIS. " GIS is not ,ust an automated decision ma#ing system !ut a tool to uery, analyze, and map data in support of the decision ma#ing process. What are the components of GIS? " wor#ing GIS integrates these five #ey components- hardware, software, data, people, and methods. .ardware is the computer on which a GIS operates. )oday, GIS runs on a wide range of hardware types, from centralized computer servers to des#top computers used in stand* alone or networ#ed configurations. GIS software provides the functions and tools needed to store, analyze, and display geographic information. /ey software components are a data!ase management system (0%'S) tools for the input and manipulation of geographic information tools that support geographic uery, analysis, and visualization a graphical user interface (G1I) for easy access to tools 'ay!e the most important component of a GIS is the data. Geographic data and related ta!ular data can !e collected in*house or !ought from a commercial data provider. 'ost GISs employ a 0%'S to create and maintain a data!ase to help organize and manage data. GIS technology is of limited value without the people who manage the system and to develop plans for applying it. GIS users range from technical specialists who design and maintain the system to those who use it to help them do their everyday wor#. " successful GIS operates according to a well*designed plan and !usiness rules, which are the models and operating practices uni ue to each organization.

What is the importance of using GIS in the economic field? 2ell, as GIS increasingly penetrates a varied num!er of fields and su!,ects and integrates further into mainstream !usiness, the need to !uild close relationships !etween the worlds data and the !usiness community is stronger than ever. Economic development agencies use data and GIS tools to retain, grow, and attract !usinesses. 2ith easy*to*use, modern 2e! applications and current data, agencies give community and !usiness leaders the information they need to ma#e investment decisions. $f course, a wide range of software can provide similar functions for uantitative data so it is the geographical, or spatial element that separates GIS from the others. )he most fre uent application in economics is the use of GIS to visualise economic data with a spatial component. 3ess common, !ut more interesting, is the use of GIS storage and management functions to generate additional data used in statistical analysis. )he two most common models are raster format (assigning a code to each cell on a regular grid) and vector format (assigning a code to, and providing coordinates for, irregular polygons). GIS provide tools for moving !etween these different geographical data models. In order to succeed, a company must now learn to ma#e GIS a part of its practices. 4ompanies could ma#e use of the recieved data to identify the types of people or companies that might most li#ely !e interested in a purchase or lease. 1tility companies can monitor growing communities and !usiness areas to !etter predict the need for e(pansion and capital outlay. 4ompanies in these and other mature industries can learn that location is much more than a place on a map. %y using GIS, companies can #now what the company can do to !etter operate. In conclusion, using GIS in Economics generally assures any company with !etter and easier statistic datas that are needed in orded to maintain a good trac# of new thing coming its way, whether it is a!out new costomers, new competition, new loses and so on. GIS can perform complicated, analytical functions, allowing decision ma#ers to see practical pro!lems !efore acting and then ,they can choose the !est method. If you include the Internet, GIS provides consistent means for e(changing and analyzing geographic data among government, private sector or non*profit organizations. "lthough GIS offers powerful capa!ilities for any industry, it re uires significant commitment from upper management, financial and human resources, training, and patience to gain the potential rewards.