olivia
Management Consulting - Milan, Lombardy, Italy
olivia Employees
olivia Details
Olivia was born in March 2020, during the pandemic, by a group of Italian students around Italy and the world, with academic backgrounds in Physics and Economics. During the Covid period, a problem and an opportunity emerged. We have seen the Italian restaurant industry bent by Covid-19. We've got Italy at heart: the Covid-19 hit the restaurant industry tremendously, with a 48% drop in dining out and a 9.6 billion revenue slump. The problem is the total uncertainty in demand for a restaurant; an opportunity is food delivery. In the lockdown phase alone, JustEat saw a 30 percent increase in the number of restaurants affiliating with the online storefront, so that it can state that "this is a market that we expect to be worth 1 billion in 2021 nationwide with further development in medium and smaller centers."Olivia was born with this idea: to deliver a simple, new, immediate tool to the average restaurateur, to help them make predictions, in an increasingly uncertain global and local scenario. We have collected and combined data from over 25000 Italian restaurants and we developed a neural network and other machine learning algorithms capable of giving profit forecasts to a restaurant. Olivia is able to recommend strategies, based on these predictions. Fascinated by these facts, we delved into the issue, with hundreds of surveys and dozens upon dozens of interviews with restaurants, consultants, and aggregators.
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