Geocoding plays a crucial role in market analysis by adding a spatial dimension to data.   When business data is geocoded, it allows for powerful geographic analysis.   For example, by geocoding customer addresses, businesses can visualize customer distribution, optimize delivery routes, and make informed decisions about new location openings.   Geocoded data can be used to define sales territories, analyze competitor locations, and overlay demographic information for deeper market insights.   By converting address data into geographic coordinates, geocoding enables businesses to make data-driven decisions based on spatial relationships and patterns.