Abstract:Modelling the dynamics of urban venues is a challenging task as it is multifaceted in nature. Demand is a function of many complex and nonlinear features such as neighborhood composition, real-time events, and seasonality. Recent advances in Graph Convolutional Networks (GCNs) have had promising results as they build a graphical representation of a system and harness the potential of deep learning architectures. However, there has been limited work using GCNs in a temporal setting to model dynamic dependencies of the network. Further, within the context of urban environments, there has been no prior work using dynamic GCNs to support venue demand analysis and prediction. In this paper, we propose a novel deep learning framework which aims to better model the popularity and growth of urban venues. Using a longitudinal dataset from location technology platform Foursquare, we model individual venues and venue types across London and Paris. First, representing cities as connected networks of venues, we quantify their structure and note a strong community structure in these retail networks, an observation that highlights the interplay of cooperative and competitive forces that emerge in local ecosystems of retail businesses. Next, we present our deep learning architecture which integrates both spatial and topological features into a temporal model which predicts the demand of a venue at the subsequent time-step. Our experiments demonstrate that our model can learn spatio-temporal trends of venue demand and consistently outperform baseline models. Relative to state-of-the-art deep learning models, our model reduces the RSME by ~ 28% in London and ~ 13% in Paris. Our approach highlights the power of complex network measures and GCNs in building prediction models for urban environments. The model could have numerous applications within the retail sector to better model venue demand and growth.
Abstract:Understanding the impact that a new business has on the local market ecosystem is a challenging task as it is multifaceted in nature. Past work in this space has examined the collaborative or competitive role of homogeneous venue types (i.e. the impact of a new bookstore on existing bookstores). However, these prior works have been limited in their scope and explanatory power. To better measure retail performance in a modern city, a model should consider a number of factors that interact synchronously. This paper is the first which considers the multifaceted types of interactions that occur in urban cities when examining the impact of new businesses. We first present a modeling framework which examines the role of new businesses in their respective local areas. Using a longitudinal dataset from location technology platform Foursquare, we model new venue impact across 26 major cities worldwide. Representing cities as connected networks of venues, we quantify their structure and characterise their dynamics over time. We note a strong community structure emerging in these retail networks, an observation that highlights the interplay of cooperative and competitive forces that emerge in local ecosystems of retail establishments. We next devise a data-driven metric that captures the first-order correlation on the impact of a new venue on retailers within its vicinity accounting for both homogeneous and heterogeneous interactions between venue types. Lastly, we build a supervised machine learning model to predict the impact of a given new venue on its local retail ecosystem. Our approach highlights the power of complex network measures in building machine learning prediction models. These models have numerous applications within the retail sector and can support policymakers, business owners, and urban planners in the development of models to characterize and predict changes in urban settings.