Hi! I run a chain of stores and finding the right new locations is really hard. I know some companies use AI to pick good spots for new stores. Does anyone know how I can use AI for this? I have data on 10 of my current stores and how well they’ve done. Could AI help me figure out where to open the next store?
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You could probably look into a paid service that helps with this kind of thing. But how would you have done this back in the days of 2020? What was your process for picking a new location then?
You could try specialized consulting. Pay someone who knows this stuff to help you out.
If you’ve got the data, you could try using ChatGPT. Just feed it the data and ask it what it thinks about your requirements.
Can AI help here? Maybe. AI could probably help, but the quality of the result depends on how good your data is, how well you set things up, and the quality of your questions. You might be better off using a spreadsheet and modeling each location based on the data you already have. Then, you can run ‘what if’ scenarios with the new locations.
Companies like McDonald’s, IKEA, and Walmart have been doing this for years without AI.
No need for AI. Just use a GIS tool like this: ArcGIS Blog for Store Locations. It’ll help you find the best spots.
GIS tools are probably better for this than AI. With GIS, you can adjust different factors like what you want from a location and play around with different scenarios to find the best one.