Sales area mapping uses a mathematical formula to forecast the success of the location of a business. It looks at where competitors are located, opening hours of the business, demographics, traffic and pedestrian measurements and area (urban or rural).
In addition to their role in prioritising and assessing new site potential, sales prediction models can also assist to: • Assess the economics of store relocations • Assess possible sales cannibalisation impacts of a new outlet on existing outlets • Assess actual vs. potential performance for any existing outlet.
Geo-coding • Geocoding is when an address is given spatial coordinates and therefore becomes a spot on a map. Spectrum uses geocoding to mark your customers or members so we can show you where they come from. • Once the customers are plotted, information can be measured like this: • Membership density (members / 1,000 persons) at certain radius or postcode. • Which customers use which store? • Similarity between leads generated and sales actually concluded.
Benefits • Estimate the performance of proposed outlets at any location • Select the most appropriate facility for a given location • Perform scenario planning • Alleviates “gut feel” from decision making • Compare actual vs. potential performance of existing outlet
For more details, please visit: http://www.spectrumanalysis.com.au