What’s missing from your Real Estate Site Pack?
Help your organization make informed location-based decisions with highly specialized data and insight
In today’s competitive retail landscape, companies are using the latest data and analytics tools for nearly every aspect of their business, from sales and marketing to operations and supply chain. At the same time, choosing the right location has become a more essential decision than ever. This is hardly surprising, given that the wrong site decisions can have million-dollar consequences. Forward-thinking organizations are constantly fine-tuning their process to make sure the sites they select are the very best ones to grow their business and turn a profit.
It stands to reason, then, that the Real Estate Site Pack — that is, that stalwart binder of information about potential locations presented to high-level decision-makers — would include the most relevant data, based on the best analytics, to help the organization’s make the most informed location-based decisions. It would be created quickly and be easily updated to reflect the latest data, with highly-targeted information about fully-researched attributes, depending on the company’s needs and different geographies.
Unfortunately, that is often not the case. Not by a long shot. The traditional Site Pack binder, in fact, typically takes a long time to compile, using a variety of disparate tools; is needlessly long, with pages of generic, irrelevant and inaccurate demographic information; and highlights data that may not be from a reliable single source. Hardly the best way to boost decision-making confidence.
It’s time for change
The Real Estate Site Pack should be based on current data and should be presented in a compressed, easy-to-digest format with intuitive graphs and data visualization. Sophisticated, data-driven tools that leverage Artificial Intelligence and Machine Learning are able to package this up for retail organizations with relative ease.
Do you know what’s missing from your Site Pack? While the traditional, often painfully-produced Site Pack has long been accepted and tolerated, there is another way.
Let’s look at what is typically missing from the Site Pack, as well as the data that really matters to location decision-makers:
Step One: Deal with your data sources
To improve your Site Pack by aligning every bit of information with the best data possible, the first step is to delve into the data sources you currently use. For example, does your data, whether demographic, traffic, or mobile, come from a single source? Or, do you get some information from your broker, some from an internal GIS mapping tool, and some from your own online sources? And no matter where it comes from, is it validated? True alignment comes from single-platform, centrally-validated data. Even if the data comes from different sources, it should be gathered into one tool and analyzed in one tool to make sure it all adds up.
Step Two: Make a predictive move
A predictive data-driven model can help take your location intelligence from good to great. That way you can, over time, develop an increasingly deep understanding of what variables and data points are driving performance. Including sales projections for each potential location as part of your the Site Pack, with data to back it, has never been easier.
If you are an emerging brand that doesn’t yet have the data to support a full predictive model, that’s okay. With the latest location intelligence tools, you can still create meaningful reports that compare existing sites to potential sites, showing variance between key data points, inside of your own specified trade areas. Over time, as you grow, you can progress to a full predictive data-driven model, all within the same central platform.
Step Three: Analyze data points you may not have delved into before
With the latest in predictive location intelligence, you can delve into data points you may not have looked at deeply in the past, and you can report on them. However, many Site Pack reports today will not map out your sales projections, and if they do, there is often no comprehensive understanding of how they were aggregated; today, that’s only a click away. Report on how competitors or co-tenants affect your business; how a subject site compares to your existing sites; how custom characteristics impact your projections; and basic demographic reports.
Have you examined traffic patterns, such as understanding which side of the road is optimal for your site? Should it be on the customer’s way home from work? Or along their morning commute? What are the average daily volumes by direction? These are not simply standard Department of Transportation numbers that may be many years old…and these are just a few use cases.
The Ultimate SitePak™ from SiteZeus
The pioneering Ultimate SitePak™ from SiteZeus takes your real estate location intelligence to the next level. You can present the very best, most efficient, targeted information to your decision-makers so they get the information that matters, in just a few short pages rather than a thick tome.
Here’s why predictive modeling, driven by modern A.I. and machine learning tools, is taking the site selection space by storm:
Potential sites sales projection report
Ideal for evaluating potential sites, the Zeustimate SitePak™ report tells you how a potential location will perform compared to your average unit volume. Get insight into which variables impact your sales projection and see what existing sites most resemble the site in question.
Correlations sites report
The Synergy SitePak™ report takes a site in question, and analyzes its location data against an average of your existing sites or a chosen subset of your sites, quickly displaying the variance between those variables in question, but also displaying correlations to success observed by our technology, allowing users to better understand the site in question.
Comparable sites report
Much like the Synergy SitePak™ report, except there are no correlations indicating ties to revenue. This specifically allows you to compare demographics for a subject site with the average of all your sites, or the average of a subgroup of sites.
Demographic comparison report
Compare demographics for up to 10 sites in a given trade area. View up to 10 sites, side-by-side, and compare them purely on their demographics per your selected trade area.
Single site report with trade area and variable analysis
Simple as it sounds, this is intended to provide a detailed demographic preview for a particular site, existing or of interest, for any preselected trade area.
Quick Demographics SitePak™
An easy to digest snapshot of popular demographics
A snapshot of commonly used demographic data presented in an easy to digest graphical style.
Site Attribute SitePak™
Report on Site Attributes and their impact on specific sites
Easily understand the monetary impact a Site Attribute, or custom site characteristic, has on any given sales projection for a specified site.
Nearest Sites SitePak™
Report on your existing sites surrounding a location of interest
Quickly visualize the closest five existing sites in surrounding area to the location of interest.
Nearest Layers SitePak™
Gather data on all of the layers surrounding a location of interest
Layers are locations that are either competitive or synergistic to your brand, that we allow users to visualize on the map. These layers also impact our models, thus impacting every given sales projection. This report allows you to gather data and visualize the layers around a specified site to assist with the presentation of this data.
Detailed INRIX Data Traffic Volume report and visual snapshot
The first of its kind, our Traffic Volume report not only visualizes the live traffic matrix, but also presents a summary of vehicles present on a road segment by day part. Get granular with and hourly breakdown of traffic, by day part, or visualize our week in review. Gleaming insight from traffic has never been easier.
From old challenges to new opportunity
Traditional real estate packages, or Site Packs, no longer keep up with the speed, flexibility, efficiency, and depth of data that today’s organizations need and expect. Retailers can no longer compete with old, inaccurate demographic information or reports that take forever to put together in Photoshop. With today’s sophisticated predictive intelligence tools, there is a new opportunity to provide decision-makers with the best data and analytics, from one central source where everything is compared apples to apples. You get more, better data — but only what you really need, when you need it.
Don’t re-use the same binder you’ve been using for the past 10 years. Don’t leave money on the table because you didn’t have the data you needed and dozens of pages of unnecessary information. Instead, invest in targeted reports with the right, updated data, that can help you make million-dollar decisions with confidence.
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