Key points
- Fast track decision support for new site investment.
- Easy interpretation of location data and store portfolio data.
- Simple, quick and cost effective.
- Uses artificial intelligence and a robust decision making framework.
Who it helps
- Hospitality and retail chains wanting to expand to new locations.
- Operations teams seeking to benchmark manager performance using location specific metrics.
- Finance teams looking for validation of nationwide growth potential.
- Commercial property investors seeking to optimise yields and returns.
Value
Our proven approach and rapid start implementation means that we quickly help clients make excellent new site investment decisions. Value from Location Spark includes:
- Reduced analysis time (20-40%).
- Increased speed to decision using robust and repeatable process.
- Increased forecasting accuracy and minimised probability of poor new site selection.
- Rapid automated site evaluation at low cost with great "return on analytics".
Approach
We synthesise multiple location parameters including: economic, demographic, competitors, brands, points of interest, traffic, commercial concentration, etc. We then calculate new site potential by combining location metrics with operations data from existing sites. This is used to predict new site sales, store characteristics, trading patterns and profitability.
Service
Location Spark is a simple framework with three components:
- Set-up: brings together operations data with a tailored selection of relevant location parameters. Location Selection algorithms use this data to derive sales predictions, trading patterns and predicted costs.
- Dashboard: flexible and intuitive with no dependency on existing IT infrastructure.
- Periodic review: driven by client requirements.
Location Spark is a framework from Algospark, specialists in design and delivery of analytics and artificial intelligence solutions.
