In today’s competitive retail landscape, business looking to expand locations can’t afford to guess at location profitability. Every brick and mortar business is impacted by how, when and where their consumers move. Using INRIX data takes the guesswork out of finding the right location for business locations efficiently, affordably and accurately without the need to physically visit each candidate location or conduct expensive studies.
INRIX Trips and Volume datasets allow retailers to better understand the “Who, What, Where, How and When” of customer behavior for each new candidate site, allowing retailers to get a full picture of site profitability instantly. These datasets are the result over 300 million anonymous GPS signals that INRIX analyzes from connected cars, commercial vehicles and mobile devices. INRIX datasets, coupled with additional demographic data, help retailers understand the demand for their product or service in targeted cities, and streamlines the site selection process to get retailers into the best locations for their business.
“Instead of visiting 20 different candidate sites, we can narrow that down to just four or five of the most ideal locations. It saves us a lot of time while also greatly improving speed, accuracy and quality of our selections,” said Tom Blazer, President of eSite Analytics.
INRIX created an API that took more than 90 terabytes of raw data and turned it into a searchable database that made it possible to license datasets to eSite Analytics as well as other site selection companies including Buxton®, Tango®, SiteZeus®, IdealSpot®, Street Light Data®, Streamline® and more.
Today, the fastest adopters of this new technology are Quick Service Restaurants (QSRs). Shake Shack, Five Guys and other QSRs look to eSite Analytics when expanding into new geographic markets. Using INRIX datasets, they create master strategies to see how many locations they can profitably rollout into given area, set territorial boundaries between stores, and perform sales forecasting.
Down the road, using big data to massively enhance site selection analytics will become an indispensable tool for every site-dependent business, even mom-pop stores. Businesses will increasingly look to big data analytics when expanding into new geographic markets to see how many locations they can profitably rollout into given area, set territorial boundaries between stores, and perform sales forecasting.
To learn more about INRIX site selection datasets, download the case study we created with our partner, eSite: How INRIX and eSite Analytics partnered to shape the future of site selection leveraging mobility analytics.