For a company that relies on choice of location for business success, machine learning can be used to identify target new locations matching the profile of top-performing facilities in an existing portfolio. Such a process can dramatically reduce the inherent risk associated with the launch of a new location.
While some location-based software can suggest how a company might perform in a given location, artificial intelligence can be used to show precisely where a company should situate in order to meet predefined objectives. Strategic planners are empowered by a search process that takes into account all relevant parcels, regardless of whether they are available for sale.
The process of deciding where to situate a new location is often driven by strategic planners’ personal intuition, supported by rudimentary data analytics. Once the initial location decision has been made, focus turns exclusively to the financial performance of the facility. Through continuous monitoring of both financial performance and location characteristics, a machine learning solution can reveal opportunities as conditions evolve, such as migration of vendors, customers, and competitors.