[BLOG] LOCATION ANALYTICS: MAPPING YOUR NEXT MOVE
The business environment has drastically changed over the past ten years, leaving many organizations with a network of locations that might be severely outdated. This blog will explain how location analytics can help you design an optimized and cost efficient network, in order to overcome challenges and increase revenue.
A challenging environment
In this ever-changing world of business, many organizations with multiple locations face the same challenges. One of the most important developments over the past decade has been the rise of e-commerce, which significantly impacts the revenue and sales of physical stores and services. On top of that, different areas are becoming more densely populated. This results in crowded roads and traffic jams, making transferring resources and products more costly and time-consuming.
The ease of e-commerce has made customers more demanding. They are less willing to travel to your organization, less willing to wait for the requested product or service and often looking for a better price. So, how do you satisfy your customers by reforming your location network?
Let location analytics lead the way
To be able to adapt your business strategy to the modern environment, a new way of thinking is crucial. Many companies already gather large amounts of data (e.g. financial figures, customer characteristics, online data, etc.) but do not use them to their full extent. What would happen if you could relate them to external factors, demographics and market information? You will have more insight into how your organization is performing and whether you are responding to your customer’s needs. Organizations using a network structure with different locations can significantly benefit from these insights to optimize their location network.
What locations perform better than others and why? Where do you open a new site? Are there any blind spots you do not reach yet? All these questions can be answered by combining internal and external data. Read more on how to integrate location analytics in your business strategy in this whitepaper and do not hesitate to contact us for more information.