Geospatial Data Analytics in Retail Market Expansion
Role of Geospatial Data Analytics in Retail Market Expansion
Role of Geospatial Data Analytics in Retail Market Expansion Anoop Nair Business problem The retail industry is going through a turbulent phase with a large number of store closures simultaneous with a manifold increase in sales revenue . Geographical expansion helps retailers to sustain their revenue. But the identification of ideal markets and suitable operation sites has challenged retailers enormously and they are compelled to explore and utilize new approaches and data to pick their future sites. Geospatial data analytics is one such avenue that has gained popularity recently. Retailers select their operational sites in the new market to reduce their distance from the customers or to enhance their attractiveness to the customers . When the new market attributes are spatially and temporally dynamic, site selection becomes very complicated. Consequently, retailers rely on up-to-date geospatial data analytics to make their market expansion decisions. So, how do retailers em...
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