An Assessment of the Impact of Geospatial Analytics on Business Location Strategies: A Case Study of Retail Chains in Benue State
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
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- Recommended for :
- NGN 5000
Background of the Study
Geospatial analytics leverages location-based data to inform strategic decision-making. In retail, it plays a critical role in determining optimal business locations, understanding customer demographics, and forecasting market trends. Retail chains in Benue State operate in a highly competitive environment where location strategies significantly impact profitability and market share.
The integration of geospatial analytics into business decisions enables retail chains to analyze factors such as population density, traffic patterns, and proximity to competitors. Research by Nwankwo and Ibrahim (2023) highlights the role of geospatial analytics in optimizing location strategies and improving customer accessibility. However, the extent of its application in Benue State’s retail sector requires further exploration.
Statement of the Problem
Retail chains in Benue State face challenges in selecting optimal business locations, often leading to poor customer accessibility and reduced profitability. Traditional methods of location analysis fail to account for complex geographic and demographic factors.
While geospatial analytics offers data-driven solutions, its adoption in Benue State’s retail sector is limited. Factors such as lack of technical expertise, high implementation costs, and inadequate data infrastructure hinder its usage. Research by Musa and Adamu (2024) underscores the potential of geospatial analytics to enhance location strategies, but practical applications remain underexplored in this context.
Objectives of the Study
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To evaluate the adoption of geospatial analytics in retail chains in Benue State.
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To assess the impact of geospatial analytics on business location strategies.
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To identify challenges associated with implementing geospatial analytics in retail chains.
Research Questions
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How widely is geospatial analytics adopted in retail chains in Benue State?
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What is the impact of geospatial analytics on business location strategies?
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What challenges affect the implementation of geospatial analytics in retail chains?
Research Hypotheses
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Geospatial analytics adoption is not significantly prevalent in retail chains in Benue State.
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Geospatial analytics does not significantly influence business location strategies.
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Challenges do not significantly affect the implementation of geospatial analytics in retail chains.
Scope and Limitations of the Study
The study focuses on retail chains in Benue State, examining the use of geospatial analytics in business location strategies. Limitations include restricted access to geospatial data and differences in analytic capabilities among retail chains.
Definitions of Terms
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Geospatial Analytics: The use of geographic data and tools to analyze and visualize spatial relationships.
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Location Strategy: A business plan focused on selecting and optimizing physical locations.
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Retail Chains: Businesses with multiple store locations operating under a unified brand.
