What is a site selection model?

A site selection model is a quantitative framework or algorithm used to systematically evaluate potential business locations based on a predefined set of criteria and data. These models help businesses make data-driven decisions when choosing new sites.

•Models integrate various data points such as demographics, competition, accessibility, and cost factors.

•They often assign weights to different criteria to reflect their relative importance to the business objectives.

•The output typically includes a ranked list of potential sites or a score for each location, indicating its suitability.

•Advanced models can simulate market performance and predict sales volumes for new locations.

•WhereToOpen.ai employs sophisticated site selection models to provide businesses with optimal location recommendations.