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Business_Problem.md

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Introduction

Background

The main issue in starting a new business in food or retail or some other industry that needs to be in touch with customers is finding a suitable location. Traditionally, people used to make up their minds based on words of mouth of others no matter of how reliable they were. Moreover, since national and global businesses as well as franchises can't rely on that method to make this underlying decision, the demand for a modern method seems obvious. Data Science as the warrior for unknown and vague issues all around the science come to the field to propose a solution for making a change in the decision procedure.

Business Problem

The main goal of this project is to locate the best possible place for a particular type of business like restaurant (it can be easily generalized to other types). The target audience of this project could be various sized businesses with a broad scope of objectives planning to open a new center in one of the LGAs(Local Government Areas) of Sydney. For the purpose of generalization, top-level features will be analyzed for all LGAs of Australia. The result will be narrow down to NSW with some extra added features to make the decision more precise. The approach is based on a wide variety of features including population density, income of population, number of currently available businesses in that LGA at the related field which is provided through the foursquare web services and many others.