Location intelligence helps retail managers pick the best locations for their business, reach target groups, and build an optimal, competitive branch network.
Location intelligence, the next step in business intelligence, supports retailers to analyze their points of sale and find the best places to reach target groups. The technology combines all location-related data – from socio-demographic figures to purchasing power groups, from movement data to a store’s KPIs – in one platform to give managers a 360° view of all retail branches.
Location intelligence software allows expansion managers and executives to make location analyses in a matter of minutes:
Locations are tied to numerous data variables, such as demographics, purchasing power groups, revenue and local services. Targomo’s platform integrates all these data sets from different sources:
Highly sophisticated reachability algorithms analyze all types of population data, calculating how many people can reach a specific location and the entire branch network. This analysis of a store’s catchment area can be done for a travel time of up to 120 minutes and four transportation modes:
TargomoLOOP not only calculates a branch network’s reach among the population and target groups, but is also capable to visualize data on a map. Data visualization greatly enhances the understanding of the network and eases communication with all stakeholders. It allows retailers to analyze:
To ease sharing and further data processing, managers can download location reports and raw data from TargomoLOOP. They can use graphics and tables in presentations or use the data in Excel or other any other database.
Thanks to innovations in location analytics, businesses can easily combine retail data with locations, generating new insights into where sales are made and why. Here are five reasons why location intelligence platform TargomoLOOP is essential for every shop owner and retail manager.
Yes, location intelligence can be used to analyze bank branches, just like any other B2C location. Using a variety of data, bank managers can examine the potential of neighborhoods to set up new branches. They can also look at areas where fewer banks are needed, without hurting service levels and customer satisfaction.
Location intelligence software is able to analyze large sets of data, from movement data to spending power and points of interest. It can calculate the catchment area for any location and visualize it on a map. This gives companies the power to pinpoint the places or delivery zones where they can best reach their customers. They can establish an optimal branch network that balances between the needs of customers and cost effectiveness. Based on customized criteria for target groups, managers can quickly shortlist the most promising locations.
Location intelligence looks at the location and its surroundings, taking a 360-degree view of a branch. This will help to find the best places to reach target groups and support sales. Businesses can also use the analysis for assortment optimization and highly localized marketing campaigns, helping each branch to thrive in its specific business area.