As announced at Microsoft Ignite 2018, a new location column type is finally available in SharePoint Online (SPO) so we can easily add location data to our SPO lists and document libraries. To use the new location column in SPO:
In any SPO list or document library, we can find a Location column in the list of column types available to add to the list or document library:
In the column settings panel, additionally to the normal configuration parameters, for a location columns we can also indicate what other linked localization columns are going to be added to the list or document library:
When we add a new item to the list, the location field allow to pick a Bing Maps location as soon as we start typing a test there:
Once we save the item, this is the result we will get in regards of the location data in the list.