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April 28, 2008

Location intelligence grows on you... Think Retail sales

1) Quantitative support to decision making. Fundamentally, that is what BI is all about.

2) The signal of location - in your data anyway - is pretty powerful...

I heard a fascinating statistic this past weekend: 95% of business decisions are based on data from Excel. If true, then location (where things are sold for example) is really powerful simply because without mapping your stores and looking at the same spreadsheet data through the lens of a map, you cannot see clusters, boundaries or gaps - gaps being no data (try finding 'no data' on something NOT in your spreadsheet!!).

Moreover, location allows you to integrate multiple sources of data: your sales and the location of your competitors... Might explain - might shed new light - on performance if you knew one set of stores had competitor stores nearby vs. those that do not.

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Posted by John D. Corbett at 3:45 PM | Comments (0)