Choosing the right model depends on the size and maturity of your chain, the quality and quantity of your data, and your goals. SiteSeer’s Location Decision Engine ™ leverages the power of machine learning (artificial intelligence) and ensemble models to improve accuracy and ensure your forecasts adapt and improve as your business environment changes.
Regression models are a staple of predictive modeling and continue to be a viable approach due to their transparency and flexibility. SiteSeer’s team can help you build these models to improve your decision making.
Where machine learning and regression models use algorithms to forecast sales, analog models evaluate similarities between the environment of your site and each of the stores in your network. The more your site is similar to your best performers, the more likely it will be a top performer. And, the more similar a site is to your poor performers, the higher the risk.
Spatial interaction models or “gravity” models simulate the movement of dollars between businesses and their customers to forecast new store openings, understand competitive impacts and estimate sales cannibalization and transfer. SiteSeer’s team has 30+ years’ experience developing gravity models as part of a retail location analysis strategy.
Maybe your goal is store network optimization and determining a chain’s capacity or choosing the best place for distribution centers. Perhaps you want to rank markets for expansion or create optimal franchise territories. SiteSeer will help you build the right models to arrive at optimal solutions for your complex business problems.
Our modeling approach is transparent and flexible. We use experience and judgment in our modeling process and strive for accuracy first and foremost. Whatever your stage of growth, we’ll help you determine the best approach for your goals and budget, and implement a program that evolves as your needs change.
Expanding your store network is expensive, and making mistakes can be just as costly. Forecasting models give you confidence in your location decisions. The SiteSeer’s team has built predictive models for many retail and chain businesses and employed these models to facilitate thousands of successful site and market decisions.