Big Data for Retail Space Optimization

Defining the design of a shopping center, determining the mix of store types and the optimal size of stores to maximize the benefits of commercial areas, are objectives that can be achieved through the proper analysis of large volumes of data.

Friday, April 16, 2021

The volumes of data being generated in the digital environment every second enables business leaders to make well-informed decisions that are based on the analysis of empirical evidence.

  • How many stores should be built in a new shopping center or shopping plaza?
  • What types of retail should be contemplated in the design of the property?
  • How many consumers might visit the site?
  • In terms of the mobility of people within the shopping center: How much rent should be charged to tenants?

These are some of the questions that a commercial space optimization model can answer to decision makers, when the project is in its early stages or at the moment of readjusting environments.

You may be interested in "Geomarketing, Successful Investments and Case Studies".

For Erick Macias, Senior Data Analyst at CentralAmericaData, from the use of different data sources, their processing and analysis, it is possible to determine the combination of types of stores and the optimal size of the same, which allow to obtain the best use of the commercial space and that the operator of the same receives the greatest benefit for the management and administration of them.

According to Macias, it is also "... possible to determine the natural flow of people within a shopping center or plaza, which is relevant information to determine those spaces with higher flow per person and therefore tend to bill a little more than the average, which also leads to establish a price structure for leasing space, specific for each of these."

See "Business Intelligence: Data as Maps"

When asked about the variables that influence the models used to make the decision on how to distribute commercial spaces, the specialist explained that "... square meters of different commercial developments and their type (clothing store, jewelry store, retail, etc.), both successful and unsuccessful, are usually taken from automated digital data collection mechanisms. This allows us to have a lot of information and evidence of what works best in the design of commercial spaces."

Finally, it is also possible to incorporate financial information and sociodemographic characteristics of the population that usually visits shopping malls, so that based on this information we can estimate turnover levels by type of business, concludes the Senior Data Analyst.

Do you need Business Intelligence solutions to optimize the commercial spaces of a property? Contact Us.









this site is protected by reCAPTCHA and Google's privacy policy and terms of service.
Need assistance? Contact us
(506) 4001-6423


More on this topic

How to Measure Pedestrian Flow with Mobility Data?

July 2021

Through solutions based on advanced mobility data analytics and predictive models, it is possible to identify different types of patterns, needs, strategies or even future consumer trends.

There are hundreds of solutions and analyses that can be performed thanks to mobility data, such as forecasting models, tracking and predictive market models, business intelligence, real estate project evaluations, solutions based on geomarketing, probabilistic models, among others.

How to Identify the Most Profitable Retailers?

April 2021

Analyzing the offerings of a supermarket, department store or convenience store and examining what type of consumers frequent those establishments is key to establishing which chains a company's products should be present in to increase their profitability.

By analyzing large volumes of data, it is possible to combine information on the products that commercial establishments sell with details of the types of consumers that are attracted to the different chains.

Traditional Channel: How to Increase Profitability?

April 2021

Determining if the highest possible profitability is being obtained at each point of sale and if the establishments with the greatest billing potential are being reached, is part of what can be solved with geomarketing solutions.

Through Big Data management techniques, it is possible to collect, validate and analyze large volumes of information for all types of points of sale, such as convenience stores or grocery stores that operate in Central American countries.

Business Intelligence: Data as Maps

March 2021

The large volumes of information that are generated at every moment in the digital environment allow transforming data into maps, tools that serve for the development of Business Intelligence solutions that are used by business leaders in all sectors.

After associating spatial or geographic information with phenomena that decision makers are interested in knowing and analyzing, it is possible to transform the data into digital maps, tools that allow companies to understand the environment of the locations of a commercial establishment, optimize their commercial routes, among other uses.

 close (x)

Receive more news about Business and Investment

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Aug 3)
Brent Crude Oil
0
Coffee "C"
0
Gold
0
Silver
0