You should probably store these points as sql server geography instead of sql server geometry. SQL Server geography will give you more accurate calculations of distances and areas because it takes into account the spherical shape of the earth. SQL geometry is planar geometry and is particularly bad for latitude and longitude because the units for distance etc. would be degrees!
Create a column called (say) geog in your table of data type geography.
Because all the data will be points, it's very easy to update the table with:
Update MyTable set geog = geography::Point(latitude, longitude, 4326)
MSDN
The 4326 here is the spatial reference system that you are using. 4326 is the code for the WGS84 spatial reference system, which is used a lot for global lat/long coordinates.