site selection

site selection

The process of choosing the best location for an anticipated use. Large national chain retailers and restaurants typically have very specific criteria regarding demographic profiles and densities, traffic counts, access and proximity to competitors, and amount of land required. Smaller companies usually piggyback on those requirements or simplify them dramatically.One rule of thumb for site selection says that a prospective retail site from which one can see a McDonald's and a branch bank is a good site.Persons skilled in the complex statistical and mathematical calculations and projections necessary for some industries are able to command high salaries.Also called location intelligence.