Presented by Dr' Richard M' Fenker Founder, RMF Centre

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Art
27 FINAL
Science
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• Presented by Dr. Richard M. FenkerFounder, RMF
  Centre

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• When it comes to location intelligence, science
  has a long way to go to catch up.
• Lots of smart people have been making lots of
  good location decisions --- with a few bad apples
  --- for quite some time.
• In general the discipline of location
  intelligence suffers from the weight of its own
  fascination with technical self-absorption, a
  myopic world view and self-generated sales hype.

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Geographic Information Systems

• GIS was the greatest thing to happen to geography
  since green cheese was discovered on the moon.
• It has not been the greatest thing that happened
  to business --- until now?
• The medium is the message.

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• Within in the location domain, the artist is
  seldom confused by the complexity of the problem
  or the general issues that must be addressed to
  solve it.
• The scientist is often confused and insists on
  applying Victorian approaches instead of
  addressing the underlying scientific issues.
• Statistics instead of models for sales forecasts
• The trade area myth
• Network planning versus common sense knowledge
  about how retail networks operate

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A Brief Example

• You are predicting the performance of the stock
  price for a company that youve invested in for
  your secret Hawaii retirement account.
• You have all of the past stock performance data
  for the company that you can link to market
  averages, the price of oil or whatever.
• You have no data (such as a financial report),
  however, on the true performance of the company.
• You build one heck of a good statistical model
  using regression analysis.
• Who would you rather trust? Your model or an
  experienced broker who can actually see the
  companys performance data?

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• As the location intelligence area explodes with
  technological advancements, our role is to keep
  the glitter from our eyes and those of our
  clients and for once, do the dirty work of
  proper research, to leverage what the artist
  knows very well already our domain expertise!