Market Texture Analysis, Understand market opportunity with striking clarity.
Understanding areas of opportunity in a given market is growing increasingly complex. Both community demographics and the competitive landscape are changing rapidly.
As a business leader, you recognize the importance of demographics, consumer behavior, proximity, and human movement patterns. But if you’re like most busy, successful leaders, you find the data analytics landscape overwhelming.
When your business was smaller, and you had a few locations in a familiar market, it was “good enough” to have your friend or real estate agent bring you a potential site for expanding your business. You knew your local market well, and the addition of some standard demographic reporting was sufficient for the due diligence.
But as your success has driven you into new and often less familiar markets, you are probably less confident about where to “stick the pin” in the map.
Instead of relying on a reactive process that evaluates potential acquisitions or denovo sites in a random, opportunistic manner, imagine turning that process on its head to help you see all of the places that embody the desirable characteristics to drive business success.
This is why Datastory created the Market Texture Analysis™.
Using a set of criteria, known as Key Predictive Variables (KPVs) that are fundamental to your business success, a Market Texture Analysis combines data into a weighted index that scores every location in an entire market. The result is a visually intuitive map that shows you all of the places where those KPVs converge in the strongest combination. This “market texture” helps you quickly hone in on areas of focus for further analysis.
KPVs can include a wide range of data inputs including:
Demographics (e.g. population growth, household income, age, etc)
Businesses (e.g. proximity to competition, suppliers, collaborators, etc)
Market Share (e.g. percentage of current customers vis-a-vis total qualified population)
Consumer Behavior (e.g. spending patterns, preferences, psychographic segments, etc)
Proximity to Assets (e.g. distance to nearest bank, hospital, transit stop, etc)
Not sure what your KPVs should be? Datastory can help you develop your unique list of target criteria.
Proactively analyzing millions of locations across a market enables you to discover (and measure) opportunities that would otherwise go unnoticed.
Experiencing this data through an interactive, intuitive dashboard enables you to ask and answer questions such as:
Which markets present the highest overall opportunity?
(Market Expansion)
Which areas of this market are most fertile for additional growth?
(Market Penetration)What is the relative value of a subject business, as measured by its market opportunity?
(Mergers and Acquisitions)Based on market opportunity, how can I optimize my network in this market?
(Portfolio Management)
A Market Texture Analysis is Datastory’s way of transforming your target criteria into actionable insights, using location analytics, driven by reliable data. You’ll hear what your data is saying more clearly than ever. And these new insights will elevate your location intelligence to provide a solid foundation for your strategic planning and business decisions.
Contact Datastory to get a quote for MapDash + Market Texture Analysis to help you make better business decisions, faster, with confidence.
