Location of New Stores – Location Analysis
Retail (physical)
An analysis of zip codes and demographic information gives a basis for understanding the potential of the market. And competitor markets are also taken into consideration. Additionally, a retailers network analysis is performed. The algorithm gives the best possible output after taking into consideration all of these points
Benefits for the company
Before a business can decide where to open up their stores, they do a ton of analysis and figure what the best location to set up shop would be
Feasability
Medium
Type of expertise/ AI domain
Machine Learning – Clustering Algorithm, and Price Analysis
Internal data required
Demographics, competitor market penetration
External data possible
Microeconomic data, Demographics