Spatially launched Product-Market-Location Fit (PML Fit) today, a proprietary metric that quantifies the general suitability of any U.S. Business Area to a specific business type. With PML Fit, businesses will now have the ability to evaluate and compare multiple or individual Business Areas in a metro.
Spatially's PML Fit is expressed as a numerical value from 0 to 100, with 100 indicating the strongest suitability for a selected business type or category and 0 indicating the weakest. PML Fit is currently available in Miami, Boston and Seattle metros with plans to roll out nationally by the end of 2017 and will soon be released as a licensed API.
Among the geospatial data modeled and analyzed in the calculation of PML Fit are:
- Consumer behavior patterns
- Existing distribution of businesses (including complementary and competitor businesses)
- Spatial interaction between businesses and customers
- General tendency of people from any area to patronize such businesses