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Retail Renaissance: How Predictive Analytics is Transforming Site Selection
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For nearly a century, retailers have analyzed potential trade
areas to find the ideal site, hand-picking their locations
based on sales forecasts and the unique attributes of a local
community. But over the decades, the way we do this has
changed dramatically. And in recent years, technology has
transformed site analysis to give retailers stunningly accurate
models.
An overwhelming number of Americans carry cell phones,
and most have been using location services for years. Now,
geographic information systems (GIS) can leverage mobile
location data to accurately picture where populations live,
work, and spend their time.
Combining location information with other datasets, you
can isolate specific demographics in a community. Modern
retailers can filter traffic through a trade area by income,
age, sex, and other datapoints that help you analyze the
potential of each site, so you can prioritize the most valuable
opportunities and predict the impact of your investment.
Predictive analytics is fueling a new era of retail. With more
accurate models, you can find the prime real estate your
competitors miss, avoid wasteful projects, and create plans
you can trust.
In this ebook, we'll explore how predictive analytics can help
retailers like you:
ظ Discover a location's true potential
ظ Rapidly adjust models to changing circumstances
ظ See the relationship between brick-and-mortar and
ecommerce
ظ Turn consumer behavior into actionable data
ظ Accurately compare different locations
Location is everything. And now, you can understand,
analyze, and compare locations more holistically than ever
before.
Introduction
