Retail store expansion strategies are one of the most fundamental issues for growing retailers. Opening a new store can be a game changer if you get the location right, or your new store could be doomed to failure if the location doesn’t attract enough customers.
In addition to geographical factors, such as transportation accessibility and real estate prices, demographic factors and mobility patterns in the areas of interest play a key role in decision making. These data on population, purchasing power and consumption habits are what generate an optimal expansion strategy.
In order to bring our operations, processes and services under one single brand name, we have decided to transform CentralAmericaData and definitively integrate it into our global brand, PREDIK Data-Driven.
We will continue to provide the same services to our clients in Central America and Mexico, but under the new brand name.
Does it make sense to keep doing surveys to evaluate, for example, the ranking of a brand, when all the real, honest, and unbiased information can be inferred from people's behavior on the Internet?
"... Traditionally, when teachers or business people needed data, they commissioned surveys. They obtained data in an orderly fashion, either in figures or in boxes marked on questionnaires.
Measuring sales performance, observing trends and anticipating the impact that the crisis will have on the market in which each company operates has never been more important, and in this context, accurate data management and analysis becomes essential.
"... Twelve years ago, in the midst of the economic downturn in 2008, British Airways (BA) was cutting costs across the organization.
For companies, it is increasingly essential to support their strategies with artificial intelligence (AI) and "machine learning" tools, since these systems have the ability to suggest the best combinations of offers to ensure sales success.
For sales software used by companies, artificial intelligence (AI) and machine learning have become essential, because only in this way is it possible to successfully analyze the large volumes of information generated from information systems that record customer data.
Technology and tools for analyzing large volumes of information used by large corporations to make business decisions are also available to businessmen and small companies.
Finding the best location for a new sales point, finding the areas where potential customers move and analyzing their purchasing power and their behavior as consumers are just some of the things that can be done today with the help of new technologies.
The new government agency will focus on investigating trade flows and identifying market opportunities for importers and exporters in the country.
The new office will focus primarily on the identification of export business opportunities, within the accesses to markets that have been achieved in the negotiation of different trade agreements signed by Panama, informed MICI.
In El Salvador, the Ministry of Economy announced the implementation of a digital platform providing exporting companies with statistical information to explore potential markets.
Salvadoran authorities reported that the "Trade Intelligence System" provides up-to-date statistical information on global foreign trade, as well as the country's exchange with each of the world's nations.
Using information without defined objectives and not integrating it across the entire company are part of the mistakes that organizations can make when analyzing large volumes of data.
Although there are still many companies that have not begun to analyze the information they accumulate in their operation, there is a risk that the efforts they make in the future will not achieve the expected results if the mistakes that some organizations tend to make in the process are not avoided.
It has been estimated that this year companies´investment in business intelligence systems and data analysis will grow by 12% globally, driven by the banking sector and the manufacturing industry.
According to estimates by the firm International Data Corporation (IDC),"... worldwide revenues for big data and business analytics (BDA) will reach $150.8 billion in 2017, an increase of 12.4% over 2016.
When using data to make business decisions, companies must understand that having a lot of information is not the same as having real, verified and high quality information.
EDITORIAL
Every day more and more companies are using new methods of analyzing information to make their business decisions, but on the path towards change it is all too easy to make the mistake of believing that having a lot of information,real, is the same as having real, verified and high quality information.
Between January and September 2016 the Central American countries as a whole imported $97 million in fruit and vegetable juices.
Data from the report 'Imports of Fruit and Vegetable Juice in Central America',presented by the Business Intelligence Unit at CentralAmericaData: [Figure caption = "Click to interact with graphics"]
The success of companies increasingly depends on their ability to integrate data analysis both for strategic and operational decisions.
Both the availability of data and the ability of technology to use it for analysis, have increased exponentially in recent years.More sophisticated algorithms have been developed and computational and storage power has steadily improved. The convergence of these trends is fueling rapid technological advances, aiding better business management.
The failure of polls on the presidential election in the US shows that in order to get the right information, data must be collected and analyzed with scientific rigor, free from any bias caused by the personal interest of pollsters and analysts.
EDITORIAL
Only 1 out of the 20 main pollsters, newspapers and television stations in the United States who possessed all the tools needed to properly manage the demographic data and surveys, was right in indicating who the next president would be.
In 2015 Costa Rica led the import of aluminum and articles made of aluminium in the region, with $166 million, followed by Guatemala, which imported $147 million, and thirdly Panama, with $129 million.
Marketfiguresfor aluminium and products made of aluminium in CentralAmerica compiled by the Business Intelligence Unit at CentralAmericaData.com, show that in 2015 the countries in the Central American region as a whole imported 153,000 tons of aluminum and articles thereof, equivalent to $646 million.