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Predictive analytics is the process of selecting, exploring, analysing and modelling data to create better business outcomes. Offered either as a services model, or as a powerful add-on for the premier desktop mapping software MapInfo Professional – SiteMarker Professional delivers advanced prediction, site location, statistical modelling and powerful geo-demographic analysis capabilities. Reports provided are a combination of map, graph and tabular formats – customised to suit your needs and to enhance your decision making process.
Predictive analytics is the process of selecting, exploring, analysing and modelling data to create better business outcomes. A powerful add-on for the premier desktop mapping software, MapInfo Professional, SiteMarker Professional delivers advanced site location and powerful geo-demographic analysis capabilities with an easy-to-use mapping interface.
SiteMarker Professional is an analytics tool combining gravity modelling (incorporating the Huff Model), street and road network and infrastructure and demographic data to predict the potential success and visibility for site location(s). The premise of gravity modelling is based on the distance decay theory, which states that the further away a customer is located from an outlet – then the less likely that the customer will frequent that store.
The customer is more likely to frequent a store that is located nearer to him or her. ‘Visibility’ is the second component of the gravity modelling, which is a factor that is used to indicate the ‘store visibility’ (such as turnover or the size of the gross lettable area). The higher the visibility (i.e. the larger the store), the more likely it will attract customers. This is based on Newton’s theory of gravitational pull – the bigger the object, the bigger the mass, the bigger the pull. Gravity modelling is this based on a combination of the distance decay coefficient, and the coefficient of store visibility.
SiteMarker Professional also includes a footprint creation wizard that enables you to produce store footprints using a combination of circular buffers, store accessibility, customer penetration, customer spend and much more.
By combining your existing store, customer and market data with SiteMarker Professional’s site modelling capabilities you can predict store turnover. By using demographics, drive time and trade area analysis you can discover which locations will reach the most customers, divert business from your competitors and tap into new markets. With SiteMarker Professional you can identify and understand the characteristics of your most profitable and next best customers for effective network planning and site evaluation.
Location is everything – knowing where to open you next retail outlet is key to site selection success. In an increasingly competitive retail environment, understanding your customers and markets can be challenging.
Today, consumer needs are sophisticated and ever changing and finding prospects most likely to buy is a huge challenge. Where are your customers and where do you find more like them? What do your customers’ locations reveal about their potential profitability and buying patterns? Are they likely to frequent a particular outlet?
Identify your best customers, understand the markets you serve and rank potential prospects with SiteMarker Professional, the complete site location solution from ST Group. Property, Retailer and Marketing professionals and analysts rely on SiteMarker Professional to plan site location and marketing initiatives and achieve the greatest return on their property and marketing investments.
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We have a variety of offerings available where we can either empower you to conduct your analyses, or why not make use of our team of dedicated consultants and professionals for those once-off projects!