This article is published in the Case Study category.
Many factors impact the value of commercial properties. Those factors can mainly be categorized into two groups: global factors and local factors.
A global factor is any change in the overall market trend and usually are derived from macro-economic. Few examples of global factors that either directly or indirectly affect a business are natural disasters, changes in government rules and cultures, etc. On the other hand, a local factor is mostly related to the specific location of the property. Local factors include the size of the economically active population within the region but not limited to the number of visitors to the region and the size of the commercial district.
With LBASense Long Term Prediction, business owners can reduce the risk of being affected by the adverse local factors, if not prepare in advance. LBASense measures the population flow around the property using an IoT device in combination with an AI algorithm. It also provides a prediction of the number of people that will visit the area around the property in the upcoming weeks, months, and years. With this information, the business or the property owner is able to prepare the forthcoming changes in advance. This is especially important for business owners today because we live in an ever-changing world.
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