What Is the Best Place
to Open A New Business?
No matter whether you are opening a new business or extending your current network of stores–a wrong decision on the new location can ruin the investment and damage your career. The importance of “Place” in the traditional marketing mix differs among industries and business models, but it still remains crucial to many of them.
That’s why CleverAnalytics combines multiple datasets and metrics and distills them into easy-to-understand reports for identifying the best location possible or selecting the winner from a number of acceptable locations.
The Complexity of Location Planning
The business expansion plan set up for proper location planning needs to combine different catchment models and socio-demographic, economic, and customer segmentation data from various sources. The number, complexity, and the need for weighting this data make the process overwhelming and trigger additional question to be answered.
ROI Hidden in Risk Avoidance
The ROI of location planning tools isn’t only based on empowering its users with real business data analysis for easy evaluation of all possible locations, but it is significantly lowering the risk of ruining the investment at its beginning by choosing the wrong location.
CleverAnalytics combines data from numerous sources, analyzes and visualizes it to support the decision process by turning a complex location-planning task into a single interactive map allowing you to:
- Display demographic and economic metrics for selected the location, including market potential and predicting the market share
- Determine the catchment area of the location by using different catchment models
- Identify the best locations with the highest traffic and exposure based on the type of your business
- See the estimated inner and outer competition in the area
Digitally Empowered Location-Planning Software
Location evaluation can be used for both scenarios, greenfield network design or “what if” analysis for proposed locations. Leveraging real life data for each location gives necessary insight and bulletproof arguments for negotiations with developers or land owners on the planned investment. CleverAnalytics empowers you with all the necessary metrics, easily accessible on a single, online available map that adds clarity and certainty to the selection process for a proposed location.
Try our solution for Business Intelligence on a map - drop us a message and one of our consultants will show you how CleverAnalytics can help optimize performance of your business.