3 Dec '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.
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%.
Earlier this year the effort was supported with $81,000 by Moscow Seed Fund, a fund set up by the Moscow City government to do venture investing.