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LAS VEGAS -- Troy, N.Y.-based MapInfo Corp. delivered a "sneak peak" of its soon-to-be-introduced AnySite Gravity Model, which will enable convenience stores and supermarkets to automatically define trade areas, forecast sales, and estimate transfer for all existing stores, competitors and potential locations within a defined market.
The AnySite Gravity Model is the first self-balancing solution of its kind, delivering marketing data in a fraction of the time and cost of traditional gravity models. Its final release is expected to be fall 2004.
For years, gravity modeling has helped convenience store retailers, supermarkets and drug stores calibrate market, competitor and customer data to simulate real world scenarios. However, these traditional studies required significant investments in time and resources. With AnySite Gravity Model's pre-calibrated market data analysis, retailers can eliminate a significant majority of the time and cost considerations of these traditional solutions. The AnySite Gravity Model reportedly can also deliver the flexibility to move quickly between different trade areas, and will support spatial analysis and integration with a full suite of demographic, lifestyle and other databases.
"With our unique, automated AnySite Gravity Model, convenience stores, supermarkets, drug stores, quick-service restaurants, gas stations and other retailers will be able to examine multiple real-world scenarios with a flexibility that has never before been available," said David Bunten, strategic industry manager, retail, at MapInfo. "MapInfo has created a sophisticated method to simulate markets and forecast sales accurately without investing significant personnel time or money. Now, with the new gravity modeling solution, retailers can conduct a quick market study and identify how many stores the market supports, fast and efficiently."