Method and system for optimizing business location selection
A method and system for making predictions about business locations. The method includes providing a spatial map and analyzing heterogeneous data having a spatial component to find utilizable data. Relationships are automatically extracted from the utilizable data. The step of automatically extracting relationships includes generating a composite indicator, which correlates spatial data with unstructured data. The extracted relationships are presented on a spatial map to make a prediction about at least one business location. Preferably, the predictions are presented as a rank-ordered list on the spatial map and a heat map overlays the spatial map to indicate predictions about particular regions.
1. A method for identifying profitability drivers for a business, comprising the steps of:
providing a display interface for displaying a spatial map;
analyzing heterogeneous data having a spatial component to find utilizable data, wherein one or more databases hold the heterogeneous data;
extracting composite indicators from the utilizable data; making a prediction using the composite indicators about at least one profitability driver for at least one business location; and presenting the prediction on the display interface in the form of a spatial map.
2. A method as set forth in claim 1 , further comprising:
presenting the prediction in the form of a rank-ordered list of profitability drivers and profitability inhibitors.
3. A method as set forth in claim 1 , further comprising:
presenting a heat-map to display regions having optimal profitability drivers.
4. A method as set forth in claim 3 , wherein presenting a heat-map includes displaying polygons of various colors.
5. A method for making and displaying predictions about business locations, comprising the steps of:
providing a hardware display interface for displaying a spatial map;
analyzing heterogeneous data having a spatial component to find utilizable data, wherein one or more databases hold the heterogeneous data;
extracting relationships from the utilizable data;
using the extracted relationships to make a prediction about at least one business location; and
presenting the prediction with the display hardware on the spatial map.
6. A method as set forth in claim 5 , further comprising:
presenting the prediction in the form of a rank-ordered list on the spatial map.
7. A method as set forth in claim 5 , wherein the spatial map includes a heat map.
8. A method as set forth in claim 7 , wherein the step of presenting includes displaying polygons of various colors.
9. A method as set forth in claim 5 , wherein the step of automatically extracting relationships includes generating a composite indicator.
10. A method as set forth in claim 9 , wherein the composite indicator correlates spatial data with unstructured data and structured data.
11. A method as set forth in claim 5 , wherein the composite indicator correlates the spatial data with at least one indicator derived from the group consisting essentially of: demographic variables, competitor proximity, accessibility, product mix, and comparable customer spending patterns.
12. A method as set forth in claim 5 , wherein the step of analyzing includes creating a data matrix having a particular dimensionality and the method further comprises the step of reducing the dimensionality of the data matrix.
13. A method as set forth in claim 5 , wherein the step of analyzing includes creating a data matrix having a particular dimensionality and the method further comprises the step of reducing the dimensionality of the data matrix by assigning relevancy scores to the data, selecting meaningful data based on the relevancy score and utilizing only the meaningful data.
14. A method as set forth in claim 5 , wherein the step of automatically extracting relationships includes extracting relationships using correlation analysis.