OneFactor and "MAVT-Vinoteka" tested the platform for forecasting of revenue of shops using artificial intelligence

2018

On November 19, 2018 the oneFactor company reported that together with MAVT-Vinoteka implemented the joint project according to locations for opening of shops.

According to the company, with the help cloud platform of oneFactor retail can significantly accelerate decision making process at the choice of optimal places for the next outlets and reduce the level of investment risks for November, 2018 by 4 times. The platform identifies also profiles buyers on the basis of analysts own data retailers in consolidation with data mobile of operators, Internet- the companies and Wi-Fi-providers.

Within a pilot project of oneFactor analyzed the current customer base MAVT-Vinoteki for identification of a core of target audience and the main pattern of visit of outlets of the retailer. The analysis of a profile of buyers showed that target audience MAVT-Vinoteki for November, 2018 are men at the age of 35-44 with income level above an average on the analyzed city. At the same time 86% of buyers live not further 300 m from the existing outlets of the retailer.

During the second stage of work with the help of the oneFactor platform the model for assessment of the next locations MAVT-Vinoteki taking into account the identified target audience of the customer and the main pattern of behavior of buyers at purchase of goods of the retailer was constructed. For each point the analysis of number of men at the age of 35-44 with income level above an average on the city, living in radius of 300 m from a location was carried out. In addition in accounting more than 200 other external factors undertook. In a work progress the model on the basis of algorithms of machine learning transferred all entering factors about outlet to a uniform indicator – an average monthly goods turnover which would be earned by the customer if it opened shop in this point.

Within field testing for November, 2018 the rejection of the forecast from the actual revenue no more, than for 10% was considered as acceptable. During the project with the help of the oneFactor platform the similar result was achieved in 82% of cases. For comparison, on average in the market this indicator for November, 2018 is 21%. Similar level of accuracy managed to be reached due to technology of the company aggregating the depersonalized data from different sources.

The constructed model was implemented in the existing business process MAVT-Vinoteki according to locations before opening of the next outlets. Use of the oneFactor platform also allowed to reduce process of assessment of locations by November, 2018 till 48 o'clock in comparison with 3 weeks at "manual mode".

On the next stage of cooperation the ability to integrate the developed model oneFactor with the website MAVT-Vinotekai in the section "Is considered offer a location for lease". It will allow to optimize the existing processes of interaction with owners of a commercial real estate, to minimize labor costs and to reduce risks when choosing a location.