Location analysis: How sales forecasts can save companies!

Location analysis: How sales forecasts can save companies!

In a world where markets are changing rapidly, the ability to accurately forecast sales is becoming increasingly important to businesses. With its WIGeoLocation software, WIGeoGIS offers a groundbreaking solution for location analysis that helps companies make informed decisions. “In a market environment that is subject to a lot of change, it is essential to place location decisions and the planning of the location network on a healthy and up-to-date basis,” emphasizes Andreas Marth, Head of Solutions at WIGeoGIS Vienna. Current sales, potential competitors and consumer purchasing behavior are taken into account in the forecasts. This makes the software an indispensable tool for retailers and service providers.

The software is based on advanced methods such as gravity analysis and cannibalization effect calculation. These techniques not only help to understand past sales trends, but also to accurately predict future changes. When a new competitor opens, we immediately analyze how this affects the existing sales potential. Andreas Marth explains: “We define together with the customer which parameters we integrate into the software, because it varies from person to person.” In this context, it becomes clear that the success of a location depends heavily on its specific market and individual circumstances, as WIGeoGIS reports on its website.

Precise location analyzes for strategic decisions

With WIGeoLocation, companies can not only simulate the effects of a potential move or redesign of their location network, but also analyze different scenarios for potential locations. These strategic considerations are particularly important if, for example, sales of an existing business are declining. An example use case: If a pharmacy experiences a decline in sales, the software can reveal whether a new pharmacy nearby is the cause and provide the data to make informed decisions. “The calculation of gravity (attraction) and cannibalization clearly shows where and how sales changes occur,” explains the software description on the WIGeoGIS website.

With such a well-founded analysis, companies are able to react faster and more strategically to changes in the market and to optimally protect their investments. A regular checkup of branches and locations is therefore not only recommended, but essential in order to survive in the competition. Further information on sales forecasts can be found on the WIGeoGIS website, where the extensive possibilities of this geomarketing software are explained in detail.