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How to read revenue prediction heatmaps
Andreas DIERYCK |
0 step |
40 seconds
Important: this tutorial is for users who have access to a GEO-AI project. Should that not be the case for you, please get in touch with us.
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First of all, enable "Statistics and heatmaps"
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Select "Heatmaps"
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There you will find 2 heatmaps:
- Revenue: This heatmap will be coloured depending on the revenue a new store could make in each cell. The brighter the better.
- Revenue (gain): This heatmap will be coloured depending on the revenue a new store could make in each cell. The brighter the better.
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On the map, each bright cell represents an area where a new store could make a high revenue
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When I hover on this cell, I can see that opening a store would potentially yield a revenue of 596,000 USD. The overall gain for my brand would be 306,000 due to cannibalisation effect.
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When you change to the "Revenue (Gain)", your map will change a lot. The areas in which you already have locations get darker, as opening a store there won't bring you a lot of revenue due to cannibalisation effects.
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For instance here, even though a new store would have a revenue of 380,000 USD, the overall marginal revenue for the brand would only be 147,000 USD. The reason is the proximity of the other store: the 2 stores would cannibalise one another.
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The same thing would happen here: the predicted revenue is high.
From the brand's perspective, this store would only bring half as much revenue, as the customers it attracts would come from other stores.
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