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  • Kaustav Bose thinks this is interesting:

GIS is about maps, people, places, buildings, points of interest, while LBS is about using that basic knowledge to provide some kind of meaningful application such as "find the nearest Automatic Teller Machine" or "help me, I'm lost"

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GIS is all about the spatial type of data - its collection, curation and metadata addition. LBS is about using such value-added spatial type of data and combining with other kinds of data, similarly gathered and curated by other technologies and having a different (non-spatial) context to provide value-added services.