In the realm of spatial analysis, where the geographic footprint of retail stores holds the key to strategic decision-making, emerges the technique of Convex Hull analysis. Explore the power of “Spatial Retail Store Analysis with Convex Hull,” offered by MAPOG. Discover how this method unveils the expansive reach of retail stores, offering invaluable insights for businesses across industries.
Key Concept:
Convex Hull analysis involves delineating the coverage areas of retail stores by creating a convex polygon. That encompasses all the points representing store locations. This methodology offers a comprehensive understanding of the spatial distribution of retail outlets. And aiding businesses in market segmentation, consumer behavior analysis, and strategic expansion planning. Check our other blog How to Merge Polygons in Maps.
Process:
Step 1:
Upload Data: First, open the MAPOG Map Analysis interface, then add your retail store data. Go to “Add Upload”, then click “Upload Vector File.”
Step 2:
Save Map: Now, save your project after uploading the data to ensure easy access and retrieval. For that, go to the pencil icon and then, give a suitable name to the untitled map. Then click “Save Map”.
Step 3:
Convex Hull Creation: Utilize the Convex Hull feature by selecting the ‘analyze data‘ option, after that click ‘convex hull‘. Provide your dataset and attribute for convex hull creation, specify buffer range, and then Submit your selections to generate the convex hull.
Step 4:
Category Styling: Now, customize the visualization of your data by applying category styling. Go to “Style Data”, then click “Category Style“. After that, select the layer. Then choose the attribute, and customize the color if needed, last click “Save Style”. This highlights distinct types of retail establishments within each convex hull to enhance clarity and understanding.
Step 5:
Analyze Final Map: Analyze the final map to gain insights into the coverage areas of retail stores and the spatial distribution of different retail categories.
Major Findings:
- Comprehensive Coverage Areas: Convex Hull analysis accurately delineates the coverage areas of retail stores, providing a detailed view of their spatial distribution.
- Market Segmentation Insights: Through category styling, distinct types of retail establishments within each convex hull are highlighted, facilitating market segmentation analysis.
- Consumer Behavior Understanding: By examining the spatial distribution of retail stores, businesses can gain insights into consumer behavior patterns and preferences.
- Strategic Expansion Opportunities: Convex Hull analysis empowers businesses to identify potential areas for strategic expansion, optimizing store locations for maximum reach and impact.
Industry and Domain:
- Retail Chains: Retail chains can leverage Convex Hull analysis to optimize store locations, assess market coverage, and strategically expand their presence.
- Property Developers: Convex Hull analysis aids property developers in understanding market demand and planning developments in areas with high retail store concentration.
- Marketing Agencies: Marketing agencies can utilize insights from Convex Hull analysis to tailor advertising campaigns, target specific consumer demographics, and optimize marketing efforts for maximum impact.
Conclusion:
MAPOG‘s Convex Hull analysis presents a robust methodology for accurately delineating retail store coverage areas. By integrating spatial analysis with category styling, businesses can gain valuable insights into market dynamics, consumer behavior, and strategic expansion opportunities. This approach empowers companies to make informed decisions, optimize marketing efforts, and drive growth in the competitive retail landscape.