Businesses looking for the best locations can now very quickly identify which sites best match their specific requirements. In location analytics platform TargomoLOOP they can rank locations by assigning weights to criteria most relevant to them.
Each business needs a specific area to thrive. For some stores, households with children are crucial, while the presence of offices has a negative impact on revenue. For restaurants the presence of high footfall is important, while the vicinity of supermarkets could be detrimental to business.
Finding the locations that match these individual location parameters is now easier with a new weighting feature in Targomo’s location analytics platform TargomoLOOP. In the example with the stores above, the feature allows a retailer to add a high weight to the variable households with children and a low or negative weight to the presence of offices.
Of a list of potential locations, TargomoLOOP can now easily rank all these sites and give an individual scoring to every location, using the weights. Locations in areas with more households with kids will get a higher score, while those with many offices in their vicinity get a lower score. The result is a ranking list of locations customized to the specific needs of the business, in this example a certain retailer.
Detailed location analysis
Noel Carbo, Product Manager with Targomo, says: “Many location questions require a customized analysis of location variables. By adding weights to each demographic variable and reachable places category, our customers can precisely find the locations that best suit their business. Weighting greatly improves the value of our scoring and ranking analysis, resulting in better location recommendations.”
Many businesses and organizations, from retail to hospitality, from real estate to mobility services, can benefit from TargomoLOOP and the new weighting feature. They can make detailed analyses of locations, catchment areas, and neighborhood characteristics.
The basic version of TargomoLOOP is free of charge and allows users to quickly gain insights into their locations. Curious to see the platform in action? Simply sign up and start analyzing.
Location analytics platform TargomoLOOP supports managers in retail, hospitality, real estate, public services and logistics to analyze locations and quickly see their potential in terms of catchment area, customer base and reachability. AI-powered predictive analytics allows retailers to identify the success factors of a network of stores and predict the revenue potential of new locations. These insights help managers to plan and optimize their branch network.
The platform’s basic version offers essential features to analyze locations with maps, demographics, and reachable places (also known as Points of Interest). Users can easily rank locations by category and weight. They can correlate location variables with performance. Users can analyze an unlimited number of locations and download reports of their findings. No set-up is required: Simply register, type in an address, and get results within seconds. Everyone can start analyzing for free.