Researchers have used a combination of social media and transport data to predict the likelihood that a given retail business will succeed or fail.
Using information from ten different cities around the world, the researchers, led by the University of Cambridge, have developed a model that can predict with 80% accuracy whether a new business will fail within six months. The results will be presented at the ACM Conference on Pervasive and Ubiquitous Computing (Ubicomp), taking place this week in Singapore.
While the retail sector has always been risky, the past several years have seen a transformation of high streets as more and more retailers fail. The model built by the researchers could be useful for both entrepreneurs and urban planners when determining where to locate their business or which areas to invest in.
“One of the most important questions for any new business is the amount of demand it…
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Last modified: October 12, 2018