There are few notable go-to software solutions that many small business owners use to help manage day to day operations. These include a POS system, bookkeeping software and inventory management system. A few additional tools like an email marketing platform and tax software are sometimes part of the mix as well. But all mostly focus on internal operations - what’s missing from the picture is a tool that addresses “external” intelligence or location intelligence. Specifically, a tool that helps businesses understand what’s happening in the surrounding area outside of their business.
The Many Layers of Location
Location can be analyzed thru several key segments: People, Businesses and Activities; In other words, what are the demographics of who works and lives nearby, what businesses and competitors exist there and what kinds of activity, such as traffic flow and events, make this area distinct. The images above and below provide examples of the kinds of data and analysis that location analytics sheds light on.
Getting Location Smart About Your Small Business
Finding the right location is just the beginning of building and growing your business. It may even be the largest capital expense you incur. So having the right set of tools to help evaluate and validate your location decision is vital.
With Spatially, businesses have a decision support system with reliable data and analytics. Our platform was built specifically for local restaurants, retailers and other small to medium businesses with the goal of providing a deeper understanding of the dynamics that exist in a Market Area.
Curious about your business’ location? Learn more with Spatially.