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Huff Model
In spatial analysis Spatial analysis or spatial statistics includes any of the formal techniques which studies entities using their topological, geometric, or geographic properties. Spatial analysis includes a variety of techniques, many still in their early deve ..., the Huff model is a widely used tool for predicting the probability of a consumer visiting a site, as a function of the distance of the site, its attractiveness, and the relative attractiveness of alternatives. It was formulated by David Huff in 1963. It is used in marketing, economics, retail research and urban planning, and is implemented in several commercially available GIS systems. Its relative ease of use and applicability to a wide range of problems contribute to its enduring appeal. The formula is given as: P_= \frac where : * A_jis a measure of the attractiveness of store ''j'' * D_{ij}is the distance from the consumer's location, ''i'', to store ''j''. * \alpha is an attractiveness parameter * \bet ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spatial Analysis
Spatial analysis or spatial statistics includes any of the formal techniques which studies entities using their topological, geometric, or geographic properties. Spatial analysis includes a variety of techniques, many still in their early development, using different analytic approaches and applied in fields as diverse as astronomy, with its studies of the placement of galaxies in the cosmos, to chip fabrication engineering, with its use of "place and route" algorithms to build complex wiring structures. In a more restricted sense, spatial analysis is the technique applied to structures at the human scale, most notably in the analysis of geographic data or transcriptomics data. Complex issues arise in spatial analysis, many of which are neither clearly defined nor completely resolved, but form the basis for current research. The most fundamental of these is the problem of defining the spatial location of the entities being studied. Classification of the techniques of spatial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail Analytics
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and then sells in smaller quantities to consumers for a profit. Retailers are the final link in the supply chain from producers to consumers. Retail markets and shops have a very ancient history, dating back to antiquity. Some of the earliest retailers were itinerant peddlers. Over the centuries, retail shops were transformed from little more than "rude booths" to the sophisticated shopping malls of the modern era. In the digital age, an increasing number of retailers are seeking to reach broader markets by selling through multiple channels, including both bricks and mortar and online retailing. Digital technologies are also affecting the way that consumers pay for goods and services. Retailing support services may also include the provision of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics Models
Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements. Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advocating "what ought to be"; between economic theory and applied economics; between rational an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
