Artificial Intelligence in Property – Interview with Enrico Faccioli, Gyana

About Gyana

Gyana is a big data startup that provides insights on human movement. Businesses with physical locations as a point of sale lack detailed insights into their customers, competitors or the locality they operate in. We have combined data points from more than 80 global data providers, and processed them with our AI pipelines, to produce a real-time understanding of consumer behaviour. Gyana offers a data insights platform which provides on-demand, up-to-date insights on people and locations. A customer can use our product to gain a 360-degree view of a customer, venue or area. This includes competitor analysis and real-time visit volume, variations in footfall and dwell time, customers’ behavioural breakdown and loyalty metrics, demographics and trends, and much more. Our product was designed to be used by a client without any technical background so that they can access customer insights and advanced big data intelligence within seconds without any training.

How are you using AI?

We process hundreds of Terabytes of human movement data every month. Without the use of artificial intelligence, it would not be possible to deal with such amounts of data. Thanks to machine learning, our product does the data structuring for us, providing valuable insights in real-time directly to the customer. Geofencing of locations is also done using AI. Our proprietary algorithm is able to identify physical locations and draw virtual walls around them, to know more precisely which exact location was visited and for how long. Moreover, telecom and GPS data are not always completely accurate. This results in uncertainty when deciding whether a person visited a cafe or a restaurant nearby, for example. This is when artificial intelligence comes in. Depending on factors like dwell time and visit frequency, we are able to understand whether that person was in the cafe or the restaurant.

An example of a client benefitting from your services

One of our customers, a shopping mall, experienced problems with their car park capacity. The owners wanted to find out whether all the cars entering their parking area were visiting their mall, or whether they were just benefiting of the free car park to go to a place nearby. Using our AI solution, we were able to discover that the majority of the people who parked at the mall were actually going to a gym close to the mall. Following this finding, the owners of the mall decided to introduce a fee for parking. This revealed to be a good strategic decision in multiple ways. The car park became less busy and started generating revenues, which contributed to balancing the below average performance of the mall.

What Real Estate companies should consider when trying to adopt AI

What has to be acknowledged in the first place is the complexity of artificial intelligence. Considering the status quo, it is very challenging for firms in any industry to implement this technology. It requires a significant investment of resources, the creation of a dedicated team and a thorough strategy for development and implementation. Those are all reasons why real estate companies have showed interest in Gyana. We have already done all the heavy lifting related to the development of effective AI. The SaaS tool elaborates all the data through our AI solution and offers real-time insights, which require no data science knowledge or any training.

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