Location of retail shopping, bank branches and headquarters, automated teller machines, and business facilities (e.g., insurance agencies, office buildings, co-working locations, etc.) has many attributes. Mapping attributes such as population density, traffic patterns and activity levels, commuting patterns, and density of existing commercial activity aid market location decisions by urban/suburban land developers, retail stores, franchise owners, grocery store owners, and shopping center developers.
Hoffman Strategy Group LLC prepared the above map to illustrate the "pull effect" of the central business district of Melbourne, Australia, on commercial asset locations such as bank branches, business facilities, and automated teller machines (ATMs).
The "pull effect" is based on a fancy, but straight-forward, calculation of weighted median population center. We are basically mapping the geometric population centers of Melbourne. This allow us to provide guidance to a client wanting to know the new site location(s) for their product, facility, restaurant, hotel, ATM, bank branch, retail shopping center, etc.
Attributes other than population that may be considered include total assets of banks and financial institutions or total retail sales of a sporting goods store by geographic areas (e.g., multi-county trade area, neighborhood clusters).
The synthesis of business intelligence with GIS mapping is a powerful way to analyze new retail market locations, monitor sales volume and sales patterns geographically, and manage supply chain resources.