17 Aug '18
BestPlace, a Russian start-up, is developing an analytical platform that enables businesses to forecast whether a certain location for a new retail outlet will be money-making.
Earlier this summer the effort was supported with $81,000 by Moscow Seed Fund, a fund set up by the Moscow City government to do venture investing.
The Russian system operates using artificial intelligence (AI) and machine learning, analyzing more than 60 categories of data on a facility/room based on open or paid sources and a customer’s information.
The project developers claim that BestPlace analytics helps customers predict future retail outlet revenues with an accuracy of up to 95%.