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7 Ways to Use Your Proprietary Data in Site Selection
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Unit performance data plays a key role in trade area
analysis, site modeling, sales forecasting, and site
selection. You need to understand how individual
locations perform over time so you can forecast the
performance of locations with similar attributes and
characteristics.
This isn't just about sales, either. Depending on your
business, unit performance metrics could be things like:
• Car count for car washing
• Member or guest counts
• Subscriptions started
• Subscriptions renewed
Your business may use differential pricing as well, which
could make raw sales figures less useful on their own. At
Tango, we generally recommend using performance data
from the past six years to see trends over time.
It's also important to analyze all stores that were
open during this time (not just currently open stores).
Otherwise you might not even realize you're considering
locations that are comparable to stores you've recently
closed. Additionally, seeing all stores from the trailing six
years helps you understand the impact to surrounding
stores when a location opens, closes, or relocates.
3. Compare unit performance
