Geotech specialises in developing demand and sales prediction models across a variety of industry types, which are specific to a company’s brand.
Chains of service or retail organisations with a number of sites have a unique opportunity to determine what it is that drives store sales, and determine what it is that make the highest performing stores perform as they do.
Statistical analysis can unlock the secrets of what factors drive revenue, and can deliver remarkably accurate prediction models that return estimates (in $’s) of the turnover potential of any potential future sites or territories.
In addition to predicting sales for new sites of interest, these models can prove just as useful in analysing the existing network of stores with respect to actual vs. potential sales. This will highlight possible operational issues (underperformers) within the network, and also identify who the overperformers are (maybe the rest of the network can learn from these stores).
This process takes the guess work out of important decisions such as where to locate a new store, and provides insight into your current store network, both of which assist with network planning and business strategy moving forward.