AI Spatial Prediction for Store Location Hunting
Among the abundant capabilities of AI, one that is necessary and prevalent in this modern world is AI for spatial prediction.
We have seen various adaptations of AI to several kinds of predictions and forecasting, such as promotion forecasting, weather forecasting, or medical diagnosis. We are all well aware that no one can beat AI when it comes to processing an enormous amount of data, analyzing, and identifying patterns in order to make predictions.
Every AI for data analytics and data science project has its own purpose, and that purpose starts with the question that AI is assigned to answer. The most popular questions usually begin with who, what, when, and where. For instance, we want to know who our potential customers are. So, AI will sift through piles of data, for example, demographics and website users’ behaviors to find the answer. To conclude, AI spatial prediction is to answer the questions that begin with “where.”
Sertis would like to introduce you to our AI Spatial Prediction solution and see how you can implement it in your business.
What is AI Spatial Prediction?
The AI for spatial prediction’s working process starts with acquiring spatial data from sources, such as navigation systems, sensors, surveys, or socioeconomic records. Then, the model will transform the data into layers of spatial representations, and analyze them to find patterns and trends that yield a useful conclusion, which leads to informed operational or strategic decisions.
The use of AI for spatial prediction technologies is becoming more prevalent owing to more proliferating geospatial data from advanced technologies like mapping, satellites, and sensors, which reduces costs and increases the efficiency of spatial prediction technologies.
It is forecasted that by 2022, 36 percent of mid to large-sized organizations will have deployed location intelligence technologies, securing a promising future for spatial prediction technology and ensuring its influence on several businesses.
Explore varying benefits of AI Spatial Prediction
Nowadays, there are diversified applications of spatial prediction technology.
Identifying high-risk areas or clusters of the COVID-19 outbreaks. Effectively executing social-distancing policies by using spatial prediction to manage crowd density. Determine where to direct marketing spending through offline marketing and advertising campaigns.
Besides, one of the most prevalent applications is location hunting for opening new stores or branches in order to achieve maximal sales and profits. This is one of the spatial prediction solutions with proven success from Sertis.
Location hunting solution for retail with AI spatial prediction form Sertis
One of the AI spatial prediction models, developed by our data science team, is a location hunting solution for retail businesses.
Location hunting for a new store or new branch needs data gathering and analysis, which can be time-consuming and resource-intensive, especially if it is manual. Most importantly, with humans’ limited ability, we might not get the conclusion drawn from a thorough analysis with every associated factor counted. This can lead to misplacement of the new store, resulting in revenue loss and store failure.
Our solution starts by collecting data on every factor that influences the store’s performance, such as demographics and points of interest. We, then, process the data with the spatial model developed by our data science team to predict potential store sales at each location and find the location that generates maximal sales.
We present to clients the dashboard that visualizes all the results we get, which makes it easy to understand and make a decision based on them.
Spatial prediction solution from Setis — 100% accurate, cost-effective, and profit increased
Clients can be assured that our machine learning model was tested and achieved high accuracy, compared with the estimation by our location hunting team. More notably, with equal performance, our solution helps free up employees’ time, boost productivity by leveraging more diverse data, and speed up the process.
We believe that our spatial prediction solution wasn’t only for location hunting, it can also be implemented and adopted in other businesses and for different purposes. With our expert team in data analytics and data science, We are positive that we can bring about the best solution for each client, regardless of the industries they belong to.
Join forces with us to create the best AI solutions that leverage your business, optimize efficiency, and maximize growth and profits, steadily and sustainably. Learn more about our solutions: https://www.sertiscorp.com/services