Geoblink, by Geoblink
Network Optimisation for the Retail Sector – Project winner of Horizonte Pyme, by MINECO
Why do some retail locations perform better than others? What are the estimated revenues of a store before it opens? What is your competition doing? What is the optimal location for a new store? Where should you focus your marketing campaigns?
Selecting where to open a new store is currently little more than educated guesswork. Executives in all sizes of retail companies have access to little information that can help them decide where the optimal location will be. Currently the only way to be able to know whether a store will be successful or not is to open the store. This is an expensive way of testing the market, resulting in many stores failing.
Furthermore, undertaking location based marketing campaigns is an inexact science. Knowing who to target is only part of the question, and it is vital to know where and how to you target these audiences and to be able to detect if they have been reached.
Recent developments have given retail executives a much better understanding of the line between success and failure within their business, while the growth of big data and locational analytics offers an even greater understanding of the environment around a store. However there is no product in the market that gives retail executives access to location data, undertakes intelligent analysis and makes it easy to visualise the retailer’s key performance indicators.
Geoblink analyses big and small location based data (collected through scraping methods) with advanced statistical and machine learning techniques, which are then presented in an easy to visualise format that give retail executives the answers to these crucial questions and allows them to make informed investment decisions.
Geoblink plan to use the SME instrument to bring to market Geoblink PRO, an advanced solution that is integrated with client retailer’s data to provide accurate answers to these questions, with an estimated 300 clients by 2021 and revenues of over 7M€.
The Geoblink project has been funded by Horizonte PYME.