Rather than relying on guesses or incomplete metrics, businesses today are creating a complete data-driven picture to target locations with the highest business potential.
With all the data they need at their fingertips, businesses can view a ranking of their existing stores, identify localities in a city with the highest business potential, and prioritize opportunities for market expansion.
Watch the video demo to learn how an Indian business used location intelligence to find out exactly where to target new locations.
Businesses can combine location data of the target geographies with their own company data, such as store locations or sales performance, pulled from siloed CRM system and sales reports.
Data lets businesses view business potential for each store, based on an analysis of nearby points of interest, such as banks, residential complexes and stores of competitors, along with other demographic and economic data.
This lets businesses create a strategy of which stores they should target with new products or services.
Businesses can also layer store-level data with point-of-interest data for every location, to map areas of influence in the city using 2.5 km wide hexagonal grids.
This lets businesses find areas with high business potential but no existing company stores — the perfect locations for expansion.