2 min read
Data is King: our LocationEdge technology helps businesses predict the future
Starting or growing a business, who wouldn’t want a crystal ball to see what’s in store?
While we can’t predict the future, our LocationEdge solution comes close. But there’s no magic or mystery involved – this type of fortune telling is firmly rooted in science.
An automated geospatial tool, LocationEdge combines data sources, visual analytics and forecasting models to identify market and consumer trends. Its ability to predict sales potential at sites across the UK means franchises looking to expand can use its insights to shape investment decisions.
In 2018, Burger King was under new ownership after being bought by private equity firm Bridgepoint. It wanted to analyse its markets in more detail and identify opportunities for opening more restaurants. With food delivery becoming increasingly competitive thanks to the likes of Deliveroo and Uber Eats, it was keen to understand the impact on its own business.
Looking for insights driven by data, the brand approached Deloitte.
Discussions with our LocationEdge team began in the summer of 2018. By January 2019, we had delivered our first bespoke iteration of the technology. Held in the cloud, it can be accessed from tablets and laptops and gives users a wealth of information at their fingertips.
To tailor the solution for the client, we had to understand what drives success at Burger King. “We carried out detailed analysis of trading performance across all the company-owned and franchised restaurants,” explained Nielsen Harrap, LocationEdge lead within UK Consulting.
He added, “The model was applied to towns and cities to prioritise location opportunities, creating the ability to predict sales for any site in the UK and carry out detailed micro-evaluations of the markets.”
Not only can it offer insights on new locations, it can make predictions about different restaurant formats and how much money they might turn over. It can also provide analysis on market share and growth over time.
The solution will continue to evolve as markets change. New data sources will be added so LocationEdge can keep providing the most accurate analysis possible.
Nielsen concluded, “More and more we’re looking at how intelligent tech can be used to answer client questions and this solution will grow as our client grows. It now forms the cornerstone of Burger King’s strategy, providing transparency in capital investment decision-making to minimise risk and maximise return on investment.”
“In this new chapter of Burger King’s life, we wanted to challenge and analyse the market in much more depth and with a higher level of detail than ever before. We wanted new ideas and a fresh perspective, so it was extremely important that our new consultancy partner could make a real impact, both through new technology and unique data as well as being adaptable to our changing needs.
“Deloitte’s LocationEdge team have delivered this and more providing us with both a partnership, and an analytical framework, to grow and achieve even greater success.”