5 Location Analytic Pointers for Selecting a Site for Business

NAPERVILLE, Ill. - Oct. 23, 2014 - PRLog -- One word that is important for most companies is location. Real estate, shipping, retail, sales and marketing, and advertising companies invest billions of dollars to searching for the perfect location for a business transaction. They believe that location analysis is strongly important and should be driven by 2 things:  the nature of the enterprise and target market. Most of these companies use a little help from mapping tools of Mapline. The mapping software designs new and timely features to help companies from all sorts of industries to understand the value of location analysis. By using maps, they get to bring in more insights faster about the structures of their business with its relation to demographic characteristics, motivational drivers, purchasing habits, location risks, potential disaster marks, and others.

The leading mapping software provides timely location information through location analysis. Its maps serve as a powerful data visualization tool that encourage companies to take a closer look and analyze a site before committing to anything. The maps are available both to large enterprises and startup entrepreneurs who no longer need to rely on online information. In just a few clicks, address locations data can tell meaningful fibers of stories significant to business decisions.

Here are some location analytic pointers to help businesses:

1. Location is not the Location Itself

Companies should consider the surrounding location as well when hunting for a potential site for business. In maps, users can enter all location information data about the surrounding cities. They can also create a map with a new data set containing any government offices that can help them with their business especially in terms of providing possible incentives, financial aid, municipal programs, businesses or local tax, planning, and many others.

2. When locations Become Foe Instead of Ally

The good thing about mapping is that as soon as the map is generated, users can instantly recognize what locations can be potential for dangers. Location truly matters no matter how great a product or service is. Mapline’s heatmap feature creates a map visualization that inform sales planners of potential markets. When risks are visualized, they can immediately create plans of activities to implement to drive sales.

Natural disasters like hurricanes or tropical storms have no control over the business. Companies can be drastically affected by these untimely events. They affect internal functions (sales, marketing, operations and manufacturing) and supply chain as well. Heatmapping is one way to prepare companies against such disasters. The mapping features help build recovery plans easily to mitigate risks and optimize responses to such situations. It allows the users to perform analysis to identify the most geographically critical areas.

3. Identify growth factors

Some startup entrepreneurs develop a business plan first and then entrepreneurs must carefully consider their target clients. But business experts suggest otherwise. When developing a business plan, location should be primarily considered. It tells a lot about the effect of the business when it comes to areas of improvement, the needed skills of employees to perform, the market size, and the customers’ purchasing power. Traffic flow is also a serious consideration that may affect the physical delivery to supply chain.

4. Identify Who the Customers Really Are

Market segmentation is important before starting a business. Maps can help answer important questions such as, “Who are the customers?” “How can you segment the market?” Without correct responses, startup can just easily fall apart. After all, no one will invest in a company that does not know who the real customers are.

5. Know the competition

Knowing the competition is a proven way to determine if the business is feasible. Seeing the map with competitors and the target market directs how a product or service should be positioned. Location analysis using maps determine if companies have the competitive edge and find out what it takes to compete. If the location is already saturated with companies running similar businesses, consider a new location. Otherwise, make sure that the product or service offered are sufficient for the battle. Other companies adapt new techniques and gimmicks to draw more customers.