Spatial Data as a Catalyst to Drive Entrepreneurial Growth and Sustainable Development

Introduction

Spatial data denotes information about the physical location and characteristics of objects or phenomena on the Earth's surface (Rajabifard & Williamson, 2001). By evaluating spatial data, entrepreneurs can gain insights into the opportunities and challenges of a particular geographic area and accordingly develop strategies for sustainable growth and entrepreneurship. The use of spatial data has gained momentum due to its potential to offer valuable insights into market trends (Argiolas, 2014; X. Li & Kao, 2022), consumer behavior (Widaningrum et al., 2020), and resource allocation (Shang et al., 2021), as well as its capability to support entrepreneurs to detect new business opportunities, improve their operations, and curtail risks (Cliquet, 2020). The methods for gathering, analyzing, and using spatial data have been significantly improved by technological advancements. Geographic information systems (GIS) development has simplified the process of collecting, storing, analyzing, and visualizing spatial data (D. Li et al., 2016). GIS is a potent tool for spatial analysis in various sectors, including agriculture, health, urban planning, education, and disaster management (Franch-Pardo et al., 2020; Goodchild et al., 1992). In addition, the integration of GIS with other technologies such as remote sensing, artificial intelligence, and machine learning has opened up new possibilities for using spatial data in various industries (Nizeyimana, 2020; Omali & Umoru, 2019; Shabanpour et al., 2022).

Economic development is largely driven by entrepreneurial growth (Prasetyo, 2019), and the use of spatial data can help in this process by enhancing resource allocation, lowering waste, and minimizing environmental impacts. Using spatial data for entrepreneurship has many advantages, one of which is the capacity to explore new company prospects. Entrepreneurs can use spatial data to find undiscovered markets, target particular consumer segments, and create new goods and services (Cliquet, 2020). GIS, for instance, can be used to analyze demographic information and pinpoint locations with a lot of potential clients. Additionally, spatial data can assist business owners in streamlining their operations by lowering transportation costs (Rikalovic et al., 2018), enhancing supply chain management (Karan & Irizarry, 2014), and minimizing waste (Ayoub & Musharavati, 2014).

Another benefit of using spatial data for entrepreneurship is the ability to minimize risks. Entrepreneurs can identify potential risks using spatial data and create mitigation plans for them. GIS, for instance, can be used to analyze natural risks like floods, earthquakes, and wildfires and create backup plans to lessen the effects of these occurrences (Armenakis & Nirupama, 2013; Le Roux et al., 2019). Utilizing spatial data can help in advancing sustainable development. The use of spatial data can support economic growth while also promoting environmental protection by enhancing resource allocation, decreasing waste, and minimizing environmental consequences. GIS, for instance, can be utilized to analyze land use trends and create plans to lessen the effects of urbanization on natural habitats (Ramachandra et al., 2015; Report, 2010).

The use of spatial data for business and sustainable development is not without its difficulties, though. The accessibility and quality of the data present a significant barrier. Collecting spatial data can be time-consuming and expensive, and factors like sensor resolution, weather, and data processing techniques can all have an impact accuracy of data (Basiri et al., 2019; H. Li et al., 2022). Another challenge is the legal and regulatory framework governing the use of spatial data (Ali et al., 2021). Entrepreneurs must comply with a range of laws and regulations governing data privacy, intellectual property rights, and environmental protection.