The Beta version of Plaace Fit score is live and available to customers with a paid tenant subscription. Email contact@plaace.co to upgrade or learn more.
What is the Plaace Fit score?
The Plaace Fit score is an assessment of how good an area fits for a retail store or restaurant concept, and it’s based on characteristics like demographics, movement patterns and the competitive situation.
The Plaace Fit score is created to add an extra data-driven dimension to the process of assessing new expansion areas, and should be used together with domain knowledge and other data insights in the Plaace platform.
More info coming soon on how we use advanced data analysis and machine learning to create a recommendation model.
How to read the Plaace Fit score
Click on the Plaace Fit score to see more details, like what retail chain or category the recommendation is for, the data drivers behind the assessment, and if the score is for the selected area, or a close-by area.
- There are 4 types of Plaace Fit scores: Low fit, Medium, Good and Great fit
- The Plaace Fit score is either for a specific retail chain, or a retail category
- There are 4 types of data drivers behind a Plaace Fit score: Competitive situation, Movement, Demographics and Other
- Orange vs blue fit scores
- Orange scores are for the selected area and a named retail chain
- Blue scores indicate that the score is for a retail category, or the closest area we currently assess fit scores for
- Areas that currently get a fit score are Basic statistical units. Commercial Hubs are coming soon
What’s next
We have many more cool features on the roadmap based on the Plaace recommendation model. First we will let our Beta customers test out the Plaace Fit score live on the Plaace platform. We work continuously to improve the accuracy of the Plaace Fit score. Some of our future plans are to provide Plaace Fit scores for Commercial Hubs, as well as more retail chains and categories.