This Placer AI review will open your eyes to the exciting applications of artificial intelligence in real estate and housing innovation. It can help developers and real estate experts collect and analyze data for easier decision-making.
Below, you’ll get firsthand information about my experience with it. You’ll also learn about its features, pricing structure, and I’ve included a quick how-to guide to help you get the most out of it.
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What Is Placer AI?
Placer AI is an AI-powered location data collection and analytics software that provides its users (individuals and businesses) with accurate consumer foot traffic insights and analytics.
Furthermore, it gives detailed information about location visitation trends and related consumer behavior. This data can help businesses improve their performance and identify high-potential investment opportunities.
Its software employs data science, machine learning algorithms, and property-level techniques.
Additionally, you can access metrics that will help you understand your clients more deeply. This includes crime insights, consumer expenditures, climate data, performance measurement year after year, and lots more.
Features
1. Location Traffic Reports
Similar to Google Maps, Placer AI is designed to provide timely and accurate insights into location traffic from businesses and establishments.
I tested the feature for this Placer AI review, and I found that the dashboard has a map with pins representing different locations within any given vicinity.
Clicking any of these pins will zoom in on the establishment, providing data relating to:
- The number of visits and visitors
- Duration of visits
- Visit frequency
- The accompanying ranking among similar properties within the area.
Although the info was comprehensive, I didn’t like how crowded the map interface looked.
In addition, Placer AI accumulates information about tenant behaviors in available locations, such as the number of visits and growth. This gives you insight into their favorite attractions and the performance of businesses in the area. Here’s an overview of the Fort Worth Stockyards, in Forth Worth, TX.
Furthermore, you’ll get a color-coded heatmap showing the area’s market landscape. This map shows you how much business is going on in retail stores within the region.
2. Predictive Modeling/Trend Forecasting
Placer AI can make accurate forecasts regarding market trends, property values, consumer wants, and more.
This helps you make informed decisions as to when to invest, which areas to look into, and the type of properties to invest in.
Additionally, this feature provides you with more leverage and an edge over your competitors in the real estate industry.
3. Data Analysis
Thanks to its machine learning algorithms and the power of artificial intelligence, Placer AI can analyze a huge amount of data sets. It uses maps from Mapbox and OpenStreetMap to present its findings in visual form.
It can focus on visitor demographics, including their median income, education level, age, and household size. You’ll also get information about the common ethnicity of the audience in a certain location.
During my tests, it based its info on a Census from 2021. You can also select older or more recent datasets.
In addition, you’ll also get closer insights into the visitors’ journey in your chosen location. This way, you can see where the visits come from, their direction, and their nature.
The attention to detail is impressive, but it’s easy to get lost in all the categories and options. Still, this valuable information can help developers make data-driven decisions and take advantage of trends even before they become mainstream.
4. Competitive Intelligence
Like Mapbox, this feature grants you insights into the foot traffic patterns of your competitors. This provides you with even more information about where your target audience spends most of their time.
Also, it helps users improve their advertisements and campaigns so they reach the right audience.
5. Customizability
Placer AI has customizable dashboards where you can analyze your data based on your specific preferences and needs.
Also, it allows users to customize where the data is being sourced from while making it visual. I could create custom tags for my venues, and organize them. It’s not exactly novice-friendly, but it works as expected.
How To Use Placer AI
Here’s how to get started with the service:
- Visit Placer AI’s official website and sign up with the required information.
- Log in and click the Explore tab to scroll through the list of properties available on the platform. Alternatively, you can input the property name or the address of the place you want to analyze.
- Click the Open Report button next to any property you want to examine. This will reveal a suite of preset datasets in the form of graphs, charts, maps, and tables.
- Use the menu tab on the left side of the dashboard to choose the type of data or insights you want to gain. For instance, you can select the duration of visits, visitor journey, demographics, trade area, foot traffic movement, competitor analysis, etc.
- Select the start and end duration of the data you want to get. This will provide you with a more tailored report as feedback.
- Click the Export button to print the information or save it for offline use.
Pricing
Placer AI offers different premium pricing plans, including the basic free plan.
It’s suitable for small businesses and individuals alike who are new to the world of real estate. However, you’ll have limited access to features.
Still, you can use it to test and get a feel for the platform and see if it’s worth it before committing to a paid plan. And the commitment is a pricey one!
You can choose between:
- Premium ($1000 monthly): This plan is suitable for large companies and teams interested in more organized and comprehensive data analysis and insights. You’ll also gain access to all the functionalities.
- Enterprise (contact support): This is a custom plan that’s designed based on a customer’s or user’s needs. The price for this plan is only available upon request, so be sure to contact the support team via the official website for further help.
There’s also no money-back guarantee.
Placer AI Review – Verdict
As you can see, the rise of AI tools isn’t limited to language learning, study companions, graphic design, and video content creation alone.
Placer AI is an accurate location intelligence and analytics software you can use to gain insight into customer foot traffic movement and much more.
I appreciated its wide scope of features, including the provision of real-time updates, trend forecasting, and market and data analysis. All of these factors play a vital role in the efficiency of this platform and the accuracy of its predictions.
However, there are certain limitations to it, such as the interface and ease of use. Users who are new to data analytics will encounter difficulties along the way. Additionally, the Premium plan’s $1000 price tag is pretty expensive.
Hopefully, this Placer AI review has satisfied your curiosity!