Targomo has introduced a new location analytics platform. It allows everyone, from retailers to real estate managers, to find the best location for businesses, improve the performance of their locations, and manage a network of branches. Anyone can register and immediately start using it, no downloads are needed.
Catchment area: The red-colored area on the map shows which people can reach Carlsplatz in maximum 20 minutes by car. The graphics on the left show different demographic groups and the number of people that can reach the location.
The new version of Targomo’s location optimization platform (TargomoLOOP) allows businesses and organizations to quickly gain insights about one of their most important assets: locations.
The service, which is free of charge, helps managers in different industries to analyze locations and quickly see their potential in terms of catchment area, customer base and reachability. Knowing how many people and which kind of people a location can attract helps businesses to determine whether it will perform successfully.
With TargomoLOOP, the Berlin-based startup wants to make location analytics available to everyone. It has already helped dozens of organizations in Europe and overseas to effectively use location data. Established businesses such as Oxford Retail Consultants in Britain, Dutch real estate platform Funda, and German beverages retailer Getränke Hoffmann benefit from Targomo’s services. The new platform allows every organization to analyze locations and gain insights.
“Location data and location intelligence have such a great potential to improve operations and people’s daily lives,” says Patrick Schoenemann, Targomo’s CEO. “But for many organizations and people the entry barriers were too high. With our new platform, we are changing this and making location intelligence accessible to everyone. Setting up a new branch, for example, is a costly decision and difficult to reverse. We help to select the right location from the start and reach the target groups which are crucial for success.”
The free-to-use version of TargomoLOOP offers essential features to analyze locations with maps, demographics, Points of Interest and movement data, which shows the visitors frequency in an area. Users can analyze an unlimited number of locations and download reports of their findings.
- Fast and easy: All the essential location data on a fast and easy-to-use platform. No set-up required: Simply register, type in an address, and get results within seconds.
- Catchment area: Users can see how many people can reach their location for travel times between 5 and 30 minutes and four travel modes. The analysis is available for seven population variables: total, male, female, age groups, household size, housing type, place of birth.
- Visitors or movement data: Analyzing the catchment area with movement data allows users to see how large potential footfall could be at that location. It is an indication of visitor frequency.
- Points of interest: The availability of restaurants, shops, transportation stops, for instance can have a big impact on how attractive an area is for a certain business. Points of interest define the character of a neighborhood and what type of people it attracts and at what times. The platform contains more than 100 different categories.
- Comparing and ranking locations: Users can easily rank locations by category, such as the highest reach among the target group of people between 30 and 49. In addition, users can analyze and do the following:
- Network of locations: Analyze an existing network of locations and add potentially new ones. Analyze the catchment of branches and see how new locations would impact the overall reach of a network.
- Upload data: Upload locations, including branch-specific data, such as opening hours, square surface and number of employees. This makes it easy to compare locations.
- Competitors’ networks: By uploading data, users can analyze and visualize the locations of competing businesses, and see where it would make sense to open a new branch (white spots) or relocate one.
- Powerful reports: Share location insights with easy-to-understand visualizations and informative reports to communicate with stakeholders.
After a beta launch in August and offering a limited number of features, the Targomo’s platform is live now. Anyone can register for free and analyze locations with just a few clicks.
More countries and features will be added in the future. Additional data sources, more options and advanced features are available upon request.
Tailormade features (requires a customized setup and comes in addition to TargomoLOOP)
- Revenue prediction: By including proprietary data and using machine learning technologies, we can identify the factors that drive the performance of your locations. Use these insights to predict sales of potentially new locations, and replicate your successes across the network.
- Assortment optimization: Boost sales by adapting your assortment to local tastes. Consumer profiles and spending power data allows for a targeted approach to market products.
- Competition analysis: With the help of gravitational models, anticipate how competitors and your own network will affect visitor numbers and overall performance. Identify locations with the most potential and determine whether and how relocation could improve your market penetration.
Comparing locations: By ranking locations, users get a good overview of which area might be best suited for their business.