Targomo has added two features – location ranking and correlation analysis – to its location analytics platform TargomoLOOP, making it easy to shortlist the best locations and find likely success factors. Furthermore, users can access more data and analytics options with a new pro plan.

The ranking feature helps users to quickly shortlist the best locations for a new branch or business. An overview of a dozen locations and their ranking is available in seconds. It shows how well a location over- or underperforms compared to the average values of locations for the selected variables and which ranking it has in the network. This makes it easier to pick the location that scores best on criteria relevant for the business.

The second addition, correlation analysis, allows users to find potential success factors for their locations. The feature shows how location variables, such as household size or income groups, relate to performance indicators, such as revenue. With the help of a plot chart, all locations are mapped on a graphic to see how, for instance, a certain age group correlates with revenue. That age group could be a critical factor for performance.

“We are constantly improving our location analytics platform to generate new insights for our users,” says Patrick Schoenemann, Targomo’s CEO. “Retailers and real estate managers often have to search through dozens of locations to find the best one for their business. Shortlisting them with our ranking tool is now easy and fast, leaving more time to analyze the most valuable sites. Correlation analysis will further ease the goal of picking a new location, by revealing factors that relate to success.”

More Data and Analytics Options

In addition to the new features which are available in the free version of TargomoLOOP, users can access more data and analytics options with premium plans. ‘TargomoLOOP Pro’ enables businesses to optimize their network of branches by analyzing white spots, competitor networks, clustering effects, and potential click & collect points as part of an omnichannel strategy. Additional data includes household income statistics, total spending power and movement data that makes it possible to target specific groups and areas with high foot traffic. Users can easily upgrade to the new Pro plan within the platform.

Businesses with a large number of branches and the need for even more advanced analytics can select Targomo’s enterprise solution. This plan offers customized services, such as revenue prediction, cannibalization analysis and assortment optimization. Advanced analytics leverages the full potential of artificial intelligence, big data and machine learning techniques to optimize a large network of branches.

Curious to see the platform in action? Book a demo.

About TargomoLOOP

Location analytics platform TargomoLOOP supports 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.

Targomo 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 platform allows every organization to quickly and easily analyze locations and gain new insights.

Targomo’s location analytics platform easily calculates and visualizes how many people you can reach with your store, your restaurant or your office, for instance.

The new version of Targomo’s of location optimization platform (LOOP), free of charge, is available in beta mode and allows users to quickly gain insights about one of the most important business assets: locations. Within seconds, users can calculate the catchment area of branches with demographic, movement and points-of-interest (POI) data.

Many businesses and organizations, from retail to hospitality, from real estate to mobility and public services, can benefit from TargomoLOOP by making detailed analyses of how many people and which kind of customers they can reach with their locations.

“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 until now the entry barriers were too high for most organizations and people. Targomo wants to change this and make location intelligence accessible to everyone. That’s why we’ve launched a new version of our location intelligence platform that allows everyone to easily gain valuable insights. They only need to sign in, type in an address – and that’s it!”

The free-to-use version of TargomoLOOP offers all essential data to analyze locations, starting with maps (OpenStreetMap), demographics, Points of Interest and movement data, which shows the frequency of visitors in an area. Users can analyze an unlimited number of locations.

Key features 

Businesses that would like to access more data sources – such as the full set of visitor data (movement data), household income groups, consumer profiles and of other countries – or use customized services, such as revenue prediction, can contact us to learn more about our enterprise solution. 

Tailormade features (requires a customized setup and comes in addition to TargomoLOOP) 

TargomoLOOP generates insights for different demographic groups, and takes different transportation means and travel times into account. Users can download the results as a PDF document.