Product Description
A potential analysis defines your organization’s optimal quantity and locations of facilities in a specific geography – whether that’s a single market, a region, or the entire U.S. The analysis uses your site selection model, desired minimum performance threshold (e.g. how many visits each facility is expected to receive or an desired index score), and maximum cannibalization/trade area overlap tolerance (e.g. no more than 10% trade area overlap) to determine how many facilities the geography can support and the optimal placement of each. The analysis can be conducted to either optimize around existing facilities (infill) or without reference to existing facilities (whitespace).
If you have purchased multiple models for various service lines and wish to conduct a potential analysis for each, you can specify whether you wish to see the results for each service line separately or only the overlapping results (i.e. sites that are optimal for all service lines).
OUTPUT & UTILIZATION
Potential analysis results are deployed to SCOUT, which allows you to visualize the recommended trade areas. Buxton also deploys the trade area’s score and the smallest recommended drive-time within that trade area to show you the “hot spots” that should be the priority for your real estate search. Finally, we provide an Excel spreadsheet that summarizes how many locations each market can support.
DATA REQUIREMENTS
You provide data such as: Minimum performance threshold, maximum cannibalization/trade area overlap tolerance
Buxton provides: Current site selection model
IMPLEMENTATION
Potential analyses require a completed Buxton site selection model to conduct the analysis. To visualize the results, you need to maintain current access to the Buxton Analytics Platform.