As 2015 enters, there is a pressing need for the retail industry to embrace location intelligence. The industry understood that the answer to the question “where” is so powerful that it provides more capacity for retail companies to create the best approach for their marketing and sales strategies. When LI is applied, retailers are able to detect valuable connections of their business to their customers and suppliers.
For many retail companies to maximize geographical advantage, map visualization is used. Maps help to make better decisions because it is powerful enough to provide compelling insights in just a few minutes. When maps are used, location analytics can give out plenty of possibilities. Retailers can confirm what is working in a specific market. They continue to discover new opportunities that might have been missed when data is not seen on a map.
For many years, Mapline empowers retail companies to think and plan geographically. It maximizes the use of modern mapping technology to give meaning to time-sensitive data information.
Maps as Location Analytics Tool to Drive Geographic Advantage
By dealing with maps, retailers are able to:
- Assess site locations
- Reduce time and cost
- Complete projects
- Streamline development process
Mapline continues to develop new mapping tools to keep up with the increasing demands of retail industry. Their maps are used to have deeper understanding about different markets. Here are some features that retail owners found to be the most useful:
Create a Map
Because of its fast geocoding services, retailers can create a map in a few minutes. Maps help them to identify customers’ the locations. They can even target potential customers with localized marketing strategy via location-specific mediums. It also helps to analyze location-based marketing methods to drive customer loyalty programs.
Map multiple data layers
Different sets of data (customers’ address locations, competitors’ locations, other factors) can be plotted simultaneously. Map showing multiple data layers help uncover relationships between stores, products, and customer types that affect sales performance. It also helps in identifying marketplace gaps, risks and opportunities.
Filtering option
Retailers can filter their data in a second. This mapping feature contributes to easy and fast data analysis. By filtering data by characteristics, retailers can assess their customers’ purchasing behavior which helps them to create tailor-fit marketing campaigns. This feature is also used to assess the sales of particular items by store and region to determine the effectivity of sales campaign.
Route Planner
The draw pad feature has fast become the popular favorite by many retailers. It allows them to draw different customized maps to picture where their business is at. They can create route planner to track performances of individual retail operators. It also helps in coordinating product deliveries to each supply chain store.
Heatmaps
Heatmapping helps retailers to assess business growth and changes in customers’ needs by region. It also helps to determine where the most profitable customers are and what to plan next to penetrate new market.
Radius Maps
By using the draw pad, retailers can create radius maps to detect unnecessary competition between store outlets. They can create maps by stores to help them identify underperforming stores and immediately develop strategies to mend the situation. It also helps in identifying the store’s performance based on maps Forecast and redevelop store-specific budgets and expectations based on location-specific information like the region’s population.
Store Territory Management
Retailers can create a map of different territories for their site selections for new store outlets. Select from hundreds of territory sets and manage retail store outlets depending on their geographic spread.
Learn how location intelligence through map visualization can make an impact in your organization. Visit Mapline today.
About Mapline
Mapline develops tools to transform analysis into a visual experience. It’s mapping technology is one of the most powerful ways to visualize data from Excel spreadsheets to optimize logistics, enhance market planning, identify growth opportunities, or mitigate market risks. Mapline leads in data simplification and presentation and is committed to delivering the tools businesses need to outpace competition.
