Writer’s Note: As I prepare to make yet another Field of Dreams reference in a blog post, I realize it’s probably time to expand my library of film quotes… BUT, it was too relevant to pass up.
“Build it and they will come,” may be a great philosophy if you’re Kevin Costner and looking to attract a dugout full of deceased baseball players to a cornfield in Iowa, but if you’re looking to relocate or open a new business location, you’ll probably want to do a little more research.
Want to know where your most likely customers live in relation to your potential business site? What about how your site compares to your competition in terms of nearby customers and prospects? Or, finally, what about an analysis of the potential revenue cannibalization of your other locations?
That’s just a snapshot of what the brave new world of location intelligence can tell you. Having moved beyond the geographic information systems (GIS) and spatial analytics of yesteryear, today’s location intelligence has converged with business intelligence to create a powerful analytical tool that is unlimited in its ability to integrate and display data.
These data-driven visualizations enable decision makers to quickly identify trends and other significant relationships between seemingly unrelated data points. More importantly, it creates the ability to model and analyze the impact of nearly any conceivable scenario.
For instance, a retail business may want to see how a recently announced residential development would affect the customer density for their future site. Or, how a competitor entering the market would affect revenue potential. These answers and more can be found in the data, and displayed like never before.
Contact us to discover how location intelligence can benefit you.