AUSTIN—IdealSpot, an Austin-based real estate analytics startup, has officially announced the launch of its business.

Bryan and Jeffrey Eisenberg, founders of the Digital Analytics Association, and Marc Smookler and Andrew Hunter, startup veterans from the big data and automation industries, started the business last summer, when the partners realized they could harness big data to help every business identify optimal locations for their business. IdealSpot provides affordable real estate risk analysis to clients in a simple, cost-effective and timely manner.

“When I met my co-founders Marc Smookler and Andrew Hunter, I shifted to the world of brick and mortar retail to bring the power of big-data analytics to the science of site location and democratize it so that any one could afford it,” Bryan Eisenberg told GlobeSt.com.

By analyzing thousands of metrics and data points, IdealSpot helps business owners minimize their risk, maximize their success, and make educated, informed choices about their next location based on data, not human bias.

“When was the last time you saw a Starbucks go out of business?” says Bryan Eisenberg. “Major corporations don't make mistakes when it comes to choosing their locations because they have in-house real estate analysis teams to ensure every spot they choose is a successful one. This data, and the confidence that it brings, has not been readily and affordably available to most businesses until now.”

Reviewing over 15,000 data metrics for each individual location, IdealSpot's proprietary and industry-tested algorithm analyzes this data and assigns a single and overall risk score. In a one-page report, IdealSpot assesses each of the top factors that contribute to the success or failure of any potential location. Businesses only answer a few questions to get started, and the report is available in less than five minutes.