Opening a New Restaurant in Baku, Azerbaijan
The objective of this capstone project is to analyse and select the best locations in the
city of Baku, Azerbaijan to open a new restaurant. Using data science methodology
and machine learning techniques like clustering, this project aims to provide solutions
to answer the businessquestion: In the city of Baku, Azerbaijan, if a property developer
is looking to open a new restaurant, where would you recommend that they open it?
Target Audience of this project
This project is particularly useful to property developers and investors looking to open
or invest in new restaurants in the capital city of Azerbaijan i.e. Baku. This project is
timely as the city is currently suffering from oversupply of restaurants. Data from the
National Property Information Centre (NAPIC) released last year showed that an
additional 57 per cent will be added to existing mall space, and the agency predicted
that total occupancy may dip below 58 per cent. The local newspaper Azerbaijani News
also reported in March last year that the true occupancy rates in restaurants may be
as low as 40 per cent in some areas, quoting a Financial Times (FT) article cataloguing
the country’s continued obsession with building more shopping space despite chronic
oversupply.