Tag: Spain

Opening a new Store for Kids in Madrid

Madrid Center, Spain

Kids' Apparel and Accessories

Goal: finding the best sites to open a new store for Kids' Apparel and Accessories in Madrid (central area).

We defined the business parameters for this analysis like:

For the Demand we defined the customer segment as young families (couple of male and female 25-40 years old) with children from 2 to 10 years old. We further added parameters about thier lifestyle and behaviours.

We added data about Competitors, Services available like parking and public transportation.

It took about 15 minutes.

The following shows the output of the analysis done by our engine:

Case1 - kids place 1-2

Two main areas of Madrid city center were selected as the best areas to open a Kid's store according to the business paramaters we entered.

Going deeper into details and zooming in a part of Area 1, this is what is displayed:

Case1 - kids place 1

Next step was to personally visit the discovered sites and check the heatmap areas in the real world.

The picture below shows the lower part of the heatmap, entering "Calle de Fuencarral" from south to reach the yellow area.

File_009_ob

At a first glance we found that this street is characterized by a wide sidewalk, allowing to safetly and quietly walk, stay and shop. It is also easily accessibile by public trasportation, being between two metro stops.  It includes an above the average concentration of shops with many kinds of goods for Kids (toys,etc) and two kinder gardens.

File_001_ob

Good to know, we have never been in Madrid but the area seems to be promising!

To better analyse the given results, we chose 6 different checkpoints on Area 1 where to measure people flows and understand the actual match of heatmap areas with target customers.

Case1 - kids place 1 - check points All - zoom in

We recorded people flows by Gender and Age during 2 days, on Saturday and Sunday for all the checkpoints from P1 to P6 at different daytimes. We further marked a special field for 'On Target'  to record the number of families with kids.

The following image shows the age and sex distribution of people flows in P1. 

openbusiness-survey-kids-families-graph1

We've found that P1, compared with all other points, registered the highest percentage of our target: young families (with children) were 25,9% of  total population compared to an average of 16,9% for point P2 and P3 and an average of 11,6 % for points P4, P5 and P6.

So the distribution rate of the target over total people flows was more than double of other 'general areas', those out of the areas of the heatmap.

Conclusions: the data visualization on a map gave us a simple but precise vision of the areas with greater potential for opening an apparel and accessories store for children.

The field test allowed us to validate the accuracy of the result obtained:

  • Hot areas actually had an important component of families with children than other areas not highlighted by the heatmap;
  • Moving even a few meters on a side street this concentration was significantly lower, as correctly predicted by the heatmap.

We can conclude that OpenBusiness turned out to be a powerful yet simple tool to find the best locations to establish a new business.

If you are interested in getting more information on this analysis or to try a free demo, just contact us

Event: “Open Data for European entrepreneurs” and FIWARE roadshow

Over 150 entrepreneurs invited to discuss about Open Data and Smart Cities in Pamplona, Spain on 1-2 March 2016.

 The event will attend European entrepreneurs to present and discuss the latest success stories of projects that have used fiware technologies as well as the relationship Open Data have with the world of entrepreneurship at European level.

An opening speech by Ragnar Bergstrom, head of sector of European Commission in the Directorate General of Communications, Networks and Technology will open the event. 

Some of the representatives of 16 Fiware accelerators funded by the European Commission, will present the evolution of business acceleration programs and future plans. Francisco Marín, general director of the Centre for the Development of Industrial Technology (CDTI), will participate in the conference with a speech dedicated to innovation in the public sector. Meanwhile, Juanjo Hierro, Telefonica, will discuss recent developments around fiware accelerators.

Parallel to the conferences and round tables, there will be meetings between entrepreneurs with potential investors, customers, as well as city representatives who may be interested in technological solutions proposed by the Startups.

Open Business, as one the startups invited to the conference, will show how Open Data can be used to help entrepreneurs to better analyse locations, discovering local 'underserved markets' and increasing longevity and performance of "brick and mortar" business. Choosing a location requires precise planning and research: it involves looking at demographics, assessing the supply chain, scoping the competition, staying on budget, understanding local laws, and much more. By using Open Data, franchisors, store chains or independent retailers can now decide where to open a new shops/store, analysing local markets in terms of demand, supply and services, reducing risks related to location and with more chance to run a successful business.

Open Data especially open government data, is a tremendous resource that is yet largely untapped. Government, citizens and business may benefit from the use open data. Several studies have estimated the economic value of open data at tens of billions of Euros annually in the EU alone. A research  from Warsaw Institute for Economic Studies (WISE Institute) and Microsoft shows why data mean an additional GDP at 206 Bn Euro in EU-28 in 2020 thanks to data-driven decision making, business process efficiency and increased competition from use of data.