Estimating revenue and business demand of a newly opened venue is paramount as these early stages often involve critical decisions such as first rounds of staffing and resource allocation. Traditionally, this estimation has been performed through coarse-grained measures such as observing numbers in local venues or venues at similar places (e.g.
View Article and Find Full Text PDFBeing able to assess the impact of government-led investment onto socio-economic indicators in cities has long been an important target of urban planning. However, owing to the lack of large-scale data with a fine spatio-temporal resolution, there have been limitations in terms of how planners can track the impact and measure the effectiveness of cultural investment in small urban areas. Taking advantage of nearly 4 million transition records for 3 years in London from a popular location-based social network service, Foursquare, we study how the socio-economic impact of government cultural expenditure can be detected and predicted.
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