What real-world problem does this product solve that would justify such level of investment? I'm personally horrified by the idea of another geolocation standa

What real-world problem does this product solve that would justify such level of investment? I'm personally horrified by the idea of another geolocation standard in data--it's already a pain dealing with addresses, lat/long, UTM, et cetera, not to mention various representation standards of same. I burned a half day on this exact issue for a data visualization demo last week, so perhaps my antibodies are more current than usual.