Analyzing competitor locations using traditional data sets like demographics and traffic counts is a great way to get started. But there is a lot more you can do if you dig into the data.
Brand Affiliation Graph:
We recently curated a data set utilizing mobile data to create brand affiliation metrics. What does this mean? In simple terms, brand affiliation is taking a location and analyzing where else people are going.
What other brands are people visiting?
This analysis can be illustrated in the chart. We ran a static address and pulled the affiliated brands that people that visited the static address also visited the same month.
Use an address to create more intelligence:
If you know where consumers are going, you can then pull the addresses of the affiliated brands and figure out other potential locations using IdealSpot data sets. The coolest part about this is it gives you insights and intelligence that would be hard to come by without this tool.
We have been playing with this for several months, and have mainly been using it for custom insights. Leveraging the power of data this way is a game changer for site-selection.